Construction on the 14-acre site could begin in early 2017.
BOGOTA -- A $100 million mixed-used development on the Hackensack River is one step closer to starting construction after the borough's planning board approved the project Tuesday night.
The River Club, a 421 unit luxury development complete with a river walk, outdoor plazas and commercial space, is planned on the former Hess property site.
The 14-acre site will include a riverwalk along the Hackensack River.
River Development LLC purchased the site several years ago and has since removed 17 oil tanks left behind by Hess Corp, Managing Partner Warren Waters previously told NJ Advance Media.
Waters said construction at the site could begin in early 2017, with a couple of the planned five buildings rising in within 24 months.
Borough officials estimate the project will bring in $60 million in revenue over 30-years.
The site will also contain 800 parking spaces, a retail component on West Fort Lee Road, as well as more than 40 units set aside for affordable housing.
Borough Councilman Tom Napolitano said the plan could be approved by the full council and mayor by the end of the year.
Fausto Giovanny Pinto may be reached at fpinto@njadvancemedia.com. Follow him on Twitter @FGPreporting. Find NJ.com on Facebook.