The first part of Jersey City’s ambitious Bayfront project has been approved by the Jersey City Redevelopment Agency, which will pave the way for the creation of a six story building alongside the Hackensack River Waterfront.
The new building, titled the Bayfront Promenade, will include 209 units, with 35 percent of it set aside for affordable housing. It will also include retail space, green infrastructure, flood mitigation and other amenities.
“This marks a major milestone as we successfully move forward with the Bayfront redevelopment project, which has already triggered interest, investment, and revitalization within the city’s Greenville and West Side neighborhoods,” said Mayor Steven Fulop in a statement.
The new building will also house about 10,000 square feet of community facility space and other amenities such as an outdoor terrace, a community lounge with a kitchen, and others.
The Promenade is part of the city’s Bayfront redevelopment project to turn a formerly contaminated 100-acre site once owned by the Honeywell Corporation into a mixed-use redevelopment, which includes proposals for 8,100 housing units, spaces for retail, offices and public space, and 19 acres of parkland, a ferry pier, a fire station and a K-8 school.
The agreement was signed with Bayfront Development Partners LLC, a joint venture between developers Pennrose LLC and Omni American LLC. The project was also approved by the Bayfront Community Advisory Committee.
“We are seeing incredible progress as we transform the 100 acres of underutilized and remediated land into a welcoming and affordable community along the Hackensack River Waterfront,” said JCRA Executive Director Diana Jeffrey.