On The Waterfront
Will Pesce, President & CEO, announced the signing of a 15-year lease in an office building to be located on the Hoboken, New Jersey waterfront. Wiley will occupy eight floors of the 13-story building, covering nearly 400,000 square feet. Groundbreaking took place in October, with a scheduled completion some time in the second half of 2002.
According to Mr. Pesce, “The relocation will result in significant rent and tax savings for Wiley, and thus enable us to fund investments in our expanding global business.” These investments will strengthen the company's position as a leading publisher with a worldwide presence.
Overlooking the Hudson River, the site, known as The Waterfront Corporate Center, will contain office and retail space, a 300-room hotel, over 500 residential units, parking, and more than seven acres of public open spaces. Adjacent to the historic Hoboken Terminal, the site offers convenient access to the region's mass transit system. In addition, ferry service and the Hudson-Bergen Light Rail Rapid Transit System, currently under construction, are minutes away. Midtown and downtown New York City, Newark International Airport, and the Meadowlands Sports Arena are also readily accessible.
The Waterfront Corporate Center has been designed to preserve and complement Hoboken's rich architectural heritage. Hoboken Mayor Anthony Russo has lauded the redevelopment plans, saying, “Our waterfront project was recently praised by the Sierra Club [America's largest grassroots environmental organization] as `the best example of urban planning in New Jersey.'”