FORT LEE—Fort Lee Redevelopment Associates, a partnership of real estate developer SJP Residential Properties, Bergen County attorney James Demetrakis and real estate investment firm Palisades Financial, has secured site plan approval to develop The Modern, a residential development highlighted by two 47-story towers.

The Modern’s all-glass towers will each contain 450 luxury rental apartments featuring a mix of studios, one-, two-, and three-bedroom residences that offer views of the Hudson River, New York City skyline, George Washington Bridge and the surrounding landscape. Construction is expected to commence in the summer of 2012.

The towers, situated on a nearly eight-acre site, are to be located at 100 and 800 Park Avenue (formerly known as Martha Washington Way), immediately south of the entrance to the George Washington Bridge. Total investment in the project is $500 million.

The Modern’s two-story lobbies will feature 24/7 concierge and doorman service as well as package and dry cleaning reception and refrigerated storage availability. The buildings will offer free WiFi access in all community areas. Each tower will be wired for clear cellular phone service throughout.

The Modern is part of a larger mixed-use redevelopment of a 16-acre site adjacent to the George Washington Bridge that will contain 165,000 sq. ft. of retail in an adjoining development parcel to the west of FLRA’s site.