An important component to developing in downtown areas is the ability to integrate street level retail with residential above. This is a challenge on many levels including planning, financing, marketing and managing. Applied has successfully developed over 250,000 square feet of street level downtown retail to compliment its residential portfolio. Typically, the development of the retail component requires a great deal of creativity, as "downtown retail" generally does not fit the traditional retail mold. Accordingly, the planning, marketing and execution must be flawless to ensure success. The Shipyard Development in Hoboken is a shining example of the integration of retail and residential with over 60,000 sq. ft. of vibrant retail including a King's gourmet market, Rite Aid Pharmacy, Starbucks, Sparrow Wine Shop and Hollywood Video integrated with over 1,100 premium residences.
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