Long time NJ developer forms new firm to capitalize on Hudson County housing market

Rending for 8701 Churchill Road in North Bergen. - SKYLINE DEVELOPMENT GROUP LLC

By Linda Lindner / llindner@njbiz.com

Louis Mont, a real estate builder and developer on New Jersey’s Hudson River Gold Coast, announced on Tuesday the formation Skyline Development Group LLC.

The new firm will leverage Mont’s four decades of experience in urban construction and operations and special outside relationships with prominent financial institutions, development partners, and municipal and state agencies, to acquire, develop and manage multi-family real estate assets.

The company will focus its efforts on mixed-use and high-rise development opportunities in key New Jersey Gold Coast cities where Mont’s expertise in design and development, marketing, leasing, occupancy and management can be employed.

Mont will lead Skyline Development Group as chief executive officer and has assembled a team of key employees with whom he has worked with on previously successful projects in Hoboken and Jersey City.

Mont

“It’s no secret Hudson County has become a hotbed of residential development and a sought-after location for both New York metro area buyers and renters,” commented Mont.  “I’m thrilled to be able to create a fresh new company that’s uniquely positioned and staffed to tap into this flourishing market.

Skyline Development Group launched with the acquisition of a fully approved 14-story project that will deliver 70 boutique and unique condominiums to 8701 Churchill Road in North Bergen.

Construction is slated to begin in September for the yet-to-be-named development located just off River Road. Skyline secured $55.5 million in financing for the building from Mosaic Real Estate Investors, which maintains offices in Calabasas, Calif. and New York City. Jonathan Aghravi of New York City-based JBA Equities served as broker for the transaction.

In addition to the North Bergen project, Skyline Development Group has secured property rights to develop a 350-unit project in Jersey City’s up-and-coming Bergen Lafayette neighborhood and anticipates additional future projects to follow.

Prior to the creation of Skyline Development Group, Mont was the chief operating officer of a Jersey City-based company which has built over 600 luxury rental units in several Jersey City high-rise buildings in recent years.