Investments

Bank Of America Investment A New York golf course developer and management company has applied to the state Department of Environmental Protection for a waterfront development permit to start building Hudson County's first golf course in Bayonne.

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Investment Opportunity The course, to be known as the Bayonne Golf Club, is projected to open sometime next year.

Banc Of America Investment The development permit application submitted by Empire Golf, LLC, of New City, N.Y., also includes a proposal for building a 1.74-mile stretch of the Hudson River Waterfront Walkway, the state-mandated 30-foot-wide public promenade that is designated to run from Bayonne to Fort Lee.

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Banking Investment The 18-hole Scottish links course along LeFante Way (formerly the old North Hook Road) would be privately operated and would spread over 125 acres of vacant land that once contained the old city dump and an old PSE&G facility. The area is now being covered by 4 million cubic yards of dredged materials. OENJ Cherokee, which owns the land, would lease it to Empire.

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Investment Solution Strategic The overall development cost is pegged at more than $2.78 million, according to the application filed Dec. 30 in Trenton on Empire Golf's behalf by Sadat Associates, a Trenton-based consulting firm.

High Yield Plus Fund Inc. (the Fund) is a diversified, end management investment company. The Fund's primary objective is to provide a high level of current income to shareholders. It seeks to achieve this objective through investment of at least 80% of its investable assets in publicly or privately offered, rated securities of comparable quality. As a secondary investment objective, the Fund will seek capital appreciation, but only when consistent with its primary objective. The Fund has agreements with, among others, Wellington Management Company, LLP (the Investment Adviser) and Prudential Investments LLC (the Administrator). The Investment Adviser makes investment decisions on behalf of the Fund.

Investment Banking Services A 90,000-square-foot plaza and fishing pier is planned for the northeast corner of the site.

Bank Investment "A property grassing plan will have the dual function of providing a final vegetative layer . thereby culminating the remediation (of contaminants on the site) and establishing the necessary landscaping for (the) course," writes Laura N. George, senior project engineer for Empire Golf, in the company's application.

Alternative Investment Empire Golf, the designer of the New Jersey Pine Barrens Golf Course, the Hudson National and New Jersey National courses, plans a 70-par, 6,900-yard course for Bayonne, with 4 acres reserved for a clubhouse and restaurant, 3 acres for putting greens, 4 acres for tee areas, 20 acres for fairways and 60 acres for "secondary roughs."

Online Investment Services No driving range is planned.

Accompany Essential Investment Access to the golf club will be provided, the application says, by extending LeFante Way 350 feet, via a 25-foot private access drive at the property's eastern end, leading to a 154-car parking lot and clubhouse.

Investment Company In the application, Empire estimates it will sign up 350 members but says nothing about membership fees.

Investment Management Solution The company's Matawan traffic consultant, Mason Consulting, Inc., projects that 150 rounds of golf will be played daily during the summer season.

Investment Management Services During a typical Saturday peak hour, Mason estimates there will be 83 trips made in and out of the facility, for which existing roads will have "adequate capacity."

Guide Investment Stock City Planner John Fussa couldn't be reached yesterday for an evaluation of Mason's projections.

Investment Manual Solution Meanwhile, the Bayonne section of the Hudson River Waterfront Walkway is billed by Empire as "the longest contiguous section (to be) constructed by a single developer to date." When complete, it will grant the community access to the Constable Hook waterfront for the first time in a century, according to Mayor Joseph V. Doria Jr.

Investment Stock Scenic vistas of the Verrazano Bridge and the Manhattan skyline will be afforded to those who stroll or bike along this section of the walkway, and a boardwalk bridge will give visitors a view of local wetlands and wildlife, the application notes. The walkway will be open from dawn to dusk.

Essential Investment Solution By Ronald Leir
Jersey Journal - 1/8/2002

Topic: Less Sprawl

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