PENNS GROVE, N.J., July 12, 2005 (PRIMEZONE) -- Groundbreaking of the first phase of The Riverwalk at Penns Grove, a mixed-use waterfront development in Penns Grove, Salem County, New Jersey, will take place on Tuesday, July 19, 2005, officially kicking off construction of the 195,500 square foot project along the Delaware River. The first phase of the project includes construction of the Riverwalk's promenade and seawall by the Borough of Penns Grove.
According to George Kearns, managing director of Fenwick Commons, L.L.C., developer of The Riverwalk at Penns Grove, the groundbreaking culminates a five-year planning process to obtain the necessary permits, approvals, and financing to construct the retail, entertainment, dining and office complex on the 26-acre tract.
"We are delighted to be launching the next phase in the creation of The Riverwalk at Penns Grove," said Kearns. "This complex development required us to collaborate closely with many organizations in order to bring it to fruition, but it was worth the necessary time and effort. The involvement and support of local and state officials have been tremendous in helping us to make our vision a reality."
"The groundbreaking and construction of the promenade and seawall marks a new beginning for Penns Grove as we launch the Riverwalk project," said Mayor John Washington, who will lead the groundbreaking along with Kearns. "Many new projects are in the works that ultimately will transform our community into an entertainment and commerce destination for the entire region."
The Riverwalk at Penns Grove will feature a nautical, maritime theme that takes advantage of the sunset vistas along the Delaware River as well as the historical significance of Penns Grove, which is one of the original landing sites of William Penn.
A riverfront promenade lined with shops and entertainment attractions will connect to a 900-foot long pier, providing a dramatic view of the river and the Delaware Memorial Bridge. An island at the end of the pier will be utilized for public entertainment. In addition, a floating breakwater with 240 feet of wharfage at the end of the island will provide an area for tall ships, a ferry landing and other attractions for day-trippers.
The development will feature four restaurants, including a 40,000 square foot entertainment, banquet and conference center and a 4,500 square foot 1920s-style themed Italian restaurant in a former bank building located at the site. The bank was once robbed by gangster Pretty Boy Floyd. The other dining facilities include a 10,000 square foot seafood restaurant and a microbrewery, which will be located in the Riverwalk Center and tied to the development's interactive artisan space.
Other highlights of The Riverwalk at Penns Grove will include a 60-room hotel with business meeting space, and short-term and extended stay suites, a food court, approximately 40 retail shops and office space. The complex will offer entertainment and will include interactive artisan workshops for glass art, which has a rich local history in Salem County, including courses of study at Salem County Community College. The development also pays homage to the famous French's Hotel and Picnic Grounds, which were located at the site a century ago. The complex will serve as a showcase to commemorate special public events throughout the year, such as holiday celebrations, art exhibits, boat races on the river and outdoor concerts.
"Our goal with The Riverwalk is to create a unique destination experience with many elements that will appeal to families and individuals of all ages, with the history of Penns Grove and the nautical theme as our backdrop," said Kearns. "We believe that by providing a broad commercial mix of retail and entertainment opportunities The Riverwalk will draw repeat visitors and help to stimulate additional development in the Penns Grove community."
According to Kearns, construction of the project will involve both Fenwick Commons and the Borough of Penns Grove. Fenwick Commons will construct the Riverwalk Center, which will include the restaurant, hotel, shops and a museum, as well as the rebuilding of the stone and cement pier that is located on the site. Penns Grove will construct the waterfront bulkhead and the actual promenade, which will be similar to a boardwalk but will be a hard, paved surface. The Riverwalk is part of series of larger interrelated development projects slated for Penns Grove, totaling $65 million.
"The Riverwalk will have a very positive economic impact on Penns Grove and all of Salem County," said Chuck Sullivan, Salem County Freeholder Director, who will also attend the groundbreaking. "This project will also help to jumpstart other developments in Penns Grove."
Construction of the project will take place through the balance of 2005 into 2006, with grand opening of shops slated for the summer of 2006. Long term plans include the addition of a marina along the pier.
The Riverwalk at Penns Grove is expected to draw tourists and visitors from throughout the Philadelphia-Wilmington-Atlantic City consolidated metropolitan statistical area. Four million people reside within a 30-mile radius of the site. The Riverwalk is located within two miles of Interstate 295 and is accessible from the Delaware Memorial Bridge, Commodore Barry Bridge, I-95 and the New Jersey Turnpike. It is reachable in 35 minutes from Philadelphia, 30 minutes from the Main Line, 15 minutes from Wilmington and 20 minutes from Newark, DE.
Retailers and other businesses interested in additional details about The Riverwalk at Penns Grove should contact Legend Properties, Inc.'s Joseph Scarpa, 856-231-1010, extension 108, or Steven DePetris, 856-231-1010, extension 103.
The Riverwalk at Penns Grove logo is available at: http://www.primezone.com/newsroom/prs/?pkgid=1714