IMPACT: The Gold Coast spreads inland

  1 / 3 
Jersey City's housing boom may make it New Jersey's most populous city after the 2020 U.S. Census.
  2 / 3 
Hudson Mews in North Bergen.
  3 / 3 
The Avora in Weehawken.
×
  1 / 3 
Jersey City's housing boom may make it New Jersey's most populous city after the 2020 U.S. Census.
  2 / 3 
Hudson Mews in North Bergen.
  3 / 3 
The Avora in Weehawken.

As always in Hudson County, major development projects are quickly on the rise, with a backlog of many more huge developments being proposed to local officials.

Dozens of moderately sized developments are underway, and major residential and mixed use high-rise projects continue to boast thousands of brand new residential units. Rentals and condos of all varieties and bedroom numbers are, as usual, hitting the market at an explosive rate in every town and city.

Here’s a run-down of this year’s major developments, and proposals that generating some buzz on the real estate radar.

Bayonne

The site of the former Military Ocean Terminal in Bayonne (MOTBY) will continue to be a hot spot for the city’s more ambitious residential endeavors, after the local government took ownership of the man-made stretch of land in 2000. Since then, the buyers have come in droves.

A development, known as 50 Flagship Street on a property purchased by developer Raj Gupta, will one day contain 1,100 units according to plans. Gupta received a 25-year tax abatement, a measure which city officials hope to use in order to encourage more developers to make daring investments in the terminal’s former location.

A joint venture partnership between JMF Properties of Whippany, RD Management, LLC, and Accurate Developers and Builders of Lakewood recently purchased 14 acres of MOTBY turf. That venture aims to develop another several hundred units.

In March, city officials took part in a topping out ceremony of 477 Broadway, an eight-story mixed use development which will feature 72 individual units, in the heart of Bayonne’s business corridor. The development, overshadowing most of Broadway’s buildings, came to fruition after a vacant retail space was demolished in 2017.

Hoboken

Sales moved along this year on Via Lofts in Hoboken’s northwest end. The ten luxury condominiums, which were developed by Bijou Properties in an upscale boutique building at 1410 Grand Street, were constructed with eco-friendly materials. The building, minutes from the Lincoln Tunnel could mark a northern transition of investment in developing Hoboken.

Sales launched in late 2018 for the development 1425 Hudson at Hudson Tea, and the project has been generating plenty of buzz since. The glass tower, with a red brick base, is comprised of 99 homes over 12 floors. The homes range from one to four bedrooms, and many have outdoor terraces and patios. The development was a product of Toll Brothers City Living, and touts ample lounges and an outdoor pool.

At the Neumann Leathers complex in Hoboken, which was used since the mid-1800s as a leather manufacturing facility, a project is in the works to create a 14-story residential development add-on to the existing structure, following an agreement between Nastasi Architects and City Council that dates back to 2017.

Jersey City

Things are, as always, expanding quickly in Jersey City.
99 Hudson, a 79-story condominium tower is still under construction by developers China Overseas America, Inc. The tower boasts spacious studios, one- and two- bedroom condos, and penthouses. Now topped out, the building is the tallest in the entire state, and developers anticipate a launch this year.

90 Columbus, a 51-story in Jersey City’s downtown, opened its doors this year. With over 500 units, this development includes a landscaped rooftop deck with a swimming pool, among other recreational amenities at the base, with an expansive view of the Hudson River. At the floor of the tower, an entrance to the PATH station is mere feet away.

Earlier this year, City Council green-lit redevelopment of the Emerson Radio Factory at 16th Street and Coles Street. The massive, five-story factory is currently undergoing demolition, and city officials are looking for developers to rehab the old structure while also developing some public park space. Developers will also be required to build a second Jersey City Police station on the property at their cost.

Lennar subsidiary LMC recently topped out an 18-story luxury apartment complex at 321 Warren Street, in an area where vertical construction is bustling. The plan also includes a spacious theater, which will be operated by Nimbus Dance Works. The project is expected to launch in late 2019.

Kushner Real Estate Group is moving full speed ahead on Journal Squared, a three-tower residential complex in which each tower will be completed in phases. Each tower will boast either over 50, over 60, or over 70 floors.

Currently, the second tower is being constructed, and is expected to top out in 2020. The third Journal Squared tower is reportedly expected by 2024.

Park and Shore, a luxury condominium development, topped out in April of last year. Two structures, at 75 Park Lane and 2 Shore Lane, each have hundreds of condominiums in a Downtown Jersey City spot minutes from the Newport PATH station.

In February, Jersey City approved a plan to allow developer Claremont to construct a 20-story tower on the former property of St. Lucy’s Church at 619 Grove Street. The building will hold over 400 luxury rentals, while sparing and rehabilitating the facade of the church. The developers also agreed to build a new homeless shelter across the street to replace the existent one.

North Bergen

In North Bergen, Hudson Mews is the talk of the town in terms of residential development. The townhouses, which are either one- or two-bedroom, will bring plenty of residents to 1305 Paterson Plank Road, in an area that is undergoing a major shift to residential from its industrial roots.

The Hudson Mews developers also laid down the foundations of a public park across the street from the development, in a joint effort with the township to carve out some more green space in that area of North Bergen. Among other amenities, the development will include a 5,000 square foot clubhouse, a fitness center, a swimming pool, and other private recreational spaces.

The owner of a property at 9001 River Road also proposed constructing an eight story, 66-unit residential building on the premises of that address. The plans went before the board of adjustment in February, and a special meeting was held on May 29. Currently, the property is used as a liquor store, and the proposal will likely see extensive review prior to being fully approved.

These two major developments were preceded by a project being carried out by James Demetrakis, who purchased the former site of the Manhattan Trailer Court at 4828 Tonnelle Ave. and began work in 2015. Demetrakis plans to construct a rental complex comprised of 214 units on that site, and agreed to a substantive PILOT (Payment in Lieu of Taxes) plan with the township that would contribute hundreds of thousands of dollars more to North Bergen than what the township now generates from that parcel.

Secaucus

In Secaucus, The Harper at Harmon Meadow boasts 469 luxury rental units with plenty of amenities, and has been selling hot since a ribbon-cutting ceremony was held last year. The rental community offers a salt water pool with cabanas and lounges, a yoga studio, a spin room, and a dog park.

Secaucus Riverside Urban Renewal, LLC currently owns a property at 1631 Paterson Plank Road that once served as a cement plant. The owners are currently proposing to construct a development that would include 116 residential units, with 163 parking spaces. 23 of the units, according to plans so far, will be “affordable” housing

Union City

Union City is currently working with developers to construct an affordable senior housing complex at 720 8th St. at the southern end of the city, where a city-owned public parking lot currently sits. The 12,500 square foot facility, as it is currently planned, is designed to provide 101 housing units reserved for low-income seniors, and would be most directly comparable to Bella Vista Apartments, which houses over 200 low-income senior citizens in Union City. The building will include a two-level parking deck.

Developers seeking to construct a 55-unit apartment complex at 1300 Manhattan Avenue in Union City have already received municipal approval to develop the property, which is one of the few undeveloped cliffside parcels left within one of Hudson County’s densest towns. Since Manhattan Avenue is a county road, the developers, Manhattan Avenue Capital 1300, LLC, will need to gain approval from county government this month aside from the approvals they already received from Union City.

A three-unit condominium complex called Palisade View invited guests to an open house in March, to showcase the units at a site on 309 Palisade Avenue. The condos offer a view of the New York City skyline, as well as a rare commodity for any Union City residents— backyard space, complete with outdoor decks.

West New York

In West New York, developers are coming in hot with plans, both on the waterfront as well as within the dense mainland.

6401 Park opened up atop the Palisades, and offers 15 luxury condos priced anywhere from $300,000 to over $400,000, over five stories. The development comes with a parking garage, and offers homeowners a five-year tax abatement.

Nine on the Hudson, developed at Port Imperial by K Hovnanian, continues to draw in residents to the 13-story condominium complex directly at the waterfront. The development is less than a mile away from the NY Waterway Ferry Terminal and is a walkable distance from a Light Rail station. The development touts over 30,000 square feet of recreational amenities, both indoor and outdoor.

In February 2018, town officials designated Culver Development Company as a redeveloper of two properties, both of which are currently owned by the towns’ Parking Authority near Bergenline Avenue. While still in the proposal stages, there are twin 14-story towers being proposed where parking lots currently sit.

Weehawken

With the advent of a huge expansion to park space on Weehawken’s Waterfront, developers are coming in hot to build at Port Imperial adjacent to the $12-14 million public space, which will feature three pools, a great lawn, and plenty of recreational fields and tennis courts.

Towering at 11 stories high, the Avora development is now almost fully complete. Avora will be the latest development to debut on Weehawken’s Port Imperial Waterfront, and is already over 55 percent sold, according to spokespersons. The 183 luxury homes are directly adjacent to both the NY Waterway Ferry Terminal and a Light Rail station. The one-, two-, and three-bedroom homes range from $800,000 to $4 million.

Harbor 1500 continues to generate buzz as development comes to a close. A product of the Maxal Group and Hartz industries, this 236-unit rental project will be available for leasing in the Lincoln Harbor neighborhood soon. It features ample recreational space on the sixth floor, and juts several hundred feet into the Hudson River.

Two condo communities, 1200 Avenue at Port Imperial and Henley on Hudson, are nearly selling out at Weehawken’s waterfront. Both were developed by Lennar Urban, and will be directly adjacent to the developing public park that will feature outdoor pools, a great lawn, and an ice skating rink, in what officials estimate will be a $12-$14 million project. These two projects comprise over 300 luxury condos, though very few are still on the market.

Hartz Mountain Industries is currently in construction at another site, at 800 Lincoln Harbor. This 15-story development, dubbed Hamilton Cove, will feature 586 housing units at the Hudson River in the southern part of Weehawken.