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NJs Skyline Is Chaging Specially At The Shores Of The Hudson Here Is Why
New Jersey has recently seen an upswing in new residential construction, especially along the Hudson west shore. Due in part for the younger generation desire to be close to NYC.
The transformation is more evident in Jersey City's Journal Square, which is showing renewed interest among developers. Journal Squared is a planned three-tower project that will bring 1,840 units to the area. There is also a 950 foot tower planned for 99 Hudson St. which will be come the tallest building in the state once construction is completed.
These are the 13 major projects:
1. The Modern: The first tower -- 47 stories -- started leasing in October. The second will be built later this year. SJP Properties is the developer of the $500 million Fort Lee-based project.
2. Journal Squared: KRE Group broke ground in October on the first of three towers planned for property between Magnolia, Pavonia and Summit Avenues in Jersey City. The tallest tower of the $666 million project is expected to reach 70-stories.
3. One Journal Square: Kushner Companies announced in January that it had purchased the vacant One Journal Square in Jersey City. No additional details of the project have yet been released.
4. URL Harborside: Mack-Cali Realty Corporation and Ironstate broke ground on this 69-story residential tower on the Jersey City waterfront in January 2014. The $291 million project is expected to be completed by mid-2016.
5. Trump Bay Street: This 50-story residential tower is the second phase of a project that started with Trump Plaza. Kushner Companies and Donald Trump broke ground on the project in May. The project is estimated to cost $215 million.
6. 30 Journal Square: Kushner Companies plans a 40-story residential tower for the former Jersey Journal headquarters. Projections on the project's costs are not yet available.
7. Hoboken rail yards: A baseline 2.2 million square foot mixed-use project is planned for the NJ Transit rail yards. The city recently approved a redevelopment plan for the project. The plan calls for office buildings reaching a maximum of 22 stories tall-- 24 if LEED certification is met. Residential buildings would be up to 13 stories tall under the proposed plans.
Source: Kathryn Brenzel | NJ Advance Media for NJ.com | http://www.nj.com/hudson/index.ssf/2015/02/12_major_development_projects_that_could_change_nj.html