A small-town riverside revival is happening just miles from New York City
A New Jersey city, once bustling with industries and factories, is slowly transforming itself into a cozy and convenient suburb.
Harrison is in the shadow of New York City, about eight miles by car. The population is approximately 20,000. Developers have taken note of its untapped potential as a residential hub, thanks to easy access to public transport, highways and a major airport.
“Harrison differentiates itself by maintaining a small, ’boutique’ scale that provides a sense of exclusivity and neighborhood control that a massive metropolis like Newark cannot easily replicate,” says Hannah Jonessenior economic research analyst at Realtor.com®.
But Harrison has long been known as an industrial city. It’s not as big as its neighbor Newark, which has an average list price of $429,000 and has about 133 active listings as of January. Homes in Newark are on the market for approximately 62 days.
The opposite is the case in Harrison, where there are only 16 active listings on Realtor.com (at the time of writing), and most are multi-family properties in densely populated neighborhoods.
This city’s turnaround took place in the Riverbend District along the Passaic River, which is now filled with luxury apartments and shops – a hidden gem in a once factory town.
Riverbank revival
The Riverbend District was founded in 2005 and the first phase of a $750 million Harrison Station project was completed in 2011. A mixed-use building was created near the trains (known as PATH), which run back and forth from Harrison to New York City. Approximately 275 apartments and 3,000 meters of retail space were built and fully leased within a year.
“Strategic transportation hubs act as a magnet for private investment, converting dormant industrial land into high-quality residential real estate,” Jones explains. “By providing a direct and reliable connection to global economic centers like New York City, a small city can bypass local economic stagnation and become a primary residence for high-income commuters. Ultimately, robust public transportation reduces the cost of distance, helping a city grow faster because people are willing to pay a premium for the time they save every day.”
The second phase in the riverfront revival was completed in 2014 and this time it included a 138-room Westin hotel. That same year, the third phase was initiated to add 320 homes and more retail space.
Meanwhile, luxury apartments and condos, as well as a Marriott hotel, were built along the river, and the green space was transformed for residents and locals to enjoy.
The neighborhood is near Sports Illustrated Stadium where Major League Soccer teams New York Red Bulls and Gotham FC play, the Prudential Center (home of the NHL’s New Jersey Devils), and the New Jersey Performing Arts Center.
It’s quite a transformation compared to decades ago, when factories powered the economy.
Industry names
Harrison’s industrial growth dates all the way back to the nineteenth century. Edison Light Works opened a factory in 1882 with 150 employees to manufacture the incandescent light bulb. In 1912 the factory employed 4,000 people, but the factory was closed down in 1929 and operations moved to other parts of the country.
The factory did not remain empty for long. RCA bought it and started making radio tubes; more than 3 billion radio tubes were manufactured at that one location. The company expanded its campus to nearly 25 acres with 26 buildings, but new technology ultimately led to the demise of the factory, which closed in 1976.
The same could be said of The Crucible Steel Co., which operated in the 1900s through World War II making war equipment. It later turned into a locomotive shop before closing.
Since the factories closed, cleaning up the environment has been crucial to making the housing projects a success. Now, people looking for a more affordable, yet convenient, walkable alternative to the likes of Hoboken or Jersey City are willing to move a little further to Harrison.
