Going up, up, up…
Jersey City continues boom with plan for 12 towers on top of ShopRite area, other projects
by Al Sullivan
Reporter staff writer
Nov 26, 2017 | 3126 views | 0 0 comments | 66 66 recommendations | email to a friend | print
DEVELOPMENT
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Several key projects opened or held groundbreakings during November in Jersey City, which has already experienced the most new development of any city in New Jersey in the last several years.

The projects include VYV, part of a massive redevelopment along Marin Boulevard near the ShopRite and Pep Boys parking lot that will ultimately include 12 residential towers. It will ultimately revamp the 18-acre Metro Plaza shopping center, which also includes BJ’s Wholesale Club and Bed, Bath & Beyond. The street grid will include a park installed in the middle of the project. Some existing businesses will be built into the new development.

Also, Mack-Cali Realty Corporation and SJP Properties have unveiled their “Intelligent Building” Design for Harborside Tower in Downtown Jersey City. And The Lenox is the only new residential building in the city’s Paulus Hook neighborhood.

First for a massive project on Marin Boulevard

Although they held a recent groundbreaking, work on Hudson Exchange West actually began in 2016. Over the next 20 years, the project is expected to result in the construction of 12 new residential towers on the 18-acre site near Marin Boulevard and Second Street, close to the Newport Mall and near the waterfront.

VYV, near the Harborside station of the Hudson Bergen Light Rail, is intended to transform the strip mall-like shopping area into a large mixed use development, including commercial space and residential units. The lead developer on the project is Forest City, a company that also built the Barclays Center in Brooklyn.

Last year, the Jersey City Council approved a 25-year tax abatement that allowed the construction to move forward. In exchange for the tax abatement, developers Forest City will pay Jersey City 7 percent of its annual gross revenue from the $449 million project.

The first tower, which has just been completed, is a 35-story residential building on the site of the former Pep Boys auto store that cost about $220 million. The first two towers are expected to cost about $449 million to construct.

What makes this project unique beyond its massive scope is that for the first time in more than three decades, affordable housing will be included in a project along the waterfront, some twenty percent of the total units, officials said.

This 20 percent mark has since become a requirement for all new abated properties in the city, as a result of an ordinance passed by the City Council earlier this year.

This project received $40 million in tax credits approved by the state Economic Development Authority, and this allowed the project to include affordable housing, officials said.

The two initial towers will bring 165 such units to the waterfront for the first time.

Market-rate rents for the building are expected to range from $2,325 for one-bedroom apartments to $3,500 for two-bedroom units. Rents on the affordable units will range from $954 for one-bedroom units to $1,194 for two-bedroom apartments.

‘Intelligent Building’ design for Harborside Tower

Calling it the next generation of office buildings, SJP Properties and Mack-Cali Realty Corporation this month ushered in a new archetype for modern work place design with the unveiling of Harborside Tower, which will integrate the latest in “intelligent building” technology.

The 40-story tower will feature 1.2 million square feet of office space, configured to optimize densification, and outfitted with high-performance infrastructure to enhance the operations of established companies and growing businesses alike.

A sustainable workplace, Harborside Tower will meet LEED Gold certification for environmental standards using an integrated building management system that employs direct digital technology for monitoring and controlling all building systems in order to improve operating efficiencies and energy consumption.

The building will also provide a web-based service request system that will allow tenants to notify management of any service needs through a seamless online platform. A distributed antenna system will enable tenants to connect to exceptionally fast internet service with unlimited bandwidth.

Located within the Harborside neighborhood, the building provides walkable access to the PATH , NY Waterway ferries, and the Hudson Bergen Light Rail. Harborside Tower will also feature an enclosed 600-car parking garage for use by tenants and their guests.

”Jersey City’s renaissance has been heralded, with an influx of new residential and retail options that have attracted residents and created a dynamic energy fueling the city’s growth,” says Steven Pozycki, founder and CEO of SJP Properties.

Recently named the most diverse city in the U.S., Jersey City is a fast-growing community that draws from a large, highly educated labor pool and one of the country’s largest concentrations of technology workers. The influx of young educated workers to the city is not slowing down; since 2008, approximately 9,000 new residential units were delivered in Jersey City, with another 4,000 units currently under construction, and 7,000 units in the pipeline.

In addition to the building’s office space, Harborside Tower will feature two units of retail space – consisting of 12,000 and 25,000 square feet respectively – that will be situated off the lobby.

Companies that locate to Harborside Tower will be eligible for New Jersey’s “Grow NJ” assistance program and other economic incentives.

Ribbon cut on first new luxury building in historic Paulus Hook

Mayor Steven M. Fulop and other Jersey City officials joined representatives of Fields Development Group this month to cut the ribbon The Lenox, a new 15-story tower, which is the only new luxury residential development in Jersey City’s Paulus Hook neighborhood.

Located at 207 Van Vorst St., The Lenox comprises 255 studio, one-, two- and three-bedroom homes complete with a number of high-end amenities – which the developers say are rarely found in the Jersey City market – as well as more than 7,200 square feet of ground-floor retail space.

The building was designed by Hoboken-based firm Marchetto Higgins Stieve to fit seamlessly into Paulus Hook’s existing landscape, officials said.

“As someone who lived in Paulus Hook for quite some time, it’s really terrific to see the changes that are happening, and the role that Fields is playing in the neighborhood’s evolution,” Fulop said. “It’s also been great to see the growth that Fields has experienced in recent years. It’s been inspiring to watch the company grow its business here, while employing Jersey City residents, and making a true difference in the community.”

The apartments, which range in size from approximately 430 to 1,530 square feet, feature spacious living areas with designer flooring, and stylish kitchens equipped with stainless steel appliances and fixtures, quartz countertops and sleek, modern cabinetry. Every residence features a washer and dryer, pendant lighting, and walk-in closets, and select residences feature private terraces.

Amenities include a rooftop pool, 24/7 doorman and concierge, automated parking garage, Amazon Hub electronic package storage system, and a grand lobby that is activated with lounge areas, game rooms, and a café. Residents will also have access to a fitness center with spin and yoga rooms and TRX equipment; electric car-charging stations; a dog run; common area washers and dryers for commercial style laundry; and Wi-Fi throughout all common spaces.

Al Sullivan may be reached at asullivan@hudsonreporter.com.

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