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Thread: Jersey City Rising

  1. #4426

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    Journal Square is NOT the downtown waterfront, to the critics of the approval... there are no more long term abatements for that area, it's potential is already well known to developers. The new project would be the only other large scale project going on in the area besides the first of the three Journal Squared project towers... there is a lot of development ahead before we can say that developers shouldn't get generous tax abatements. First comes the completion of several developments as well as the full conversion of the Loews to a major performance arts center, greater retail and dining options and the development of public plaza space. You get a developed center at Journal Square and you don't have to depend on the granting of tax abatements to encourage building and development there. Possibly effects of development goal all the way to Mc Ginley Square with its apartment tower with grocery store and movie theater. Also much will happen in the Garfield- Jersey Avenue areas as well as Bayside and NJCU expansion/residential/retail for the West Side. Development besides downtown/ waterfront Jersey City is happening.... each city should do what it can do to attract growth and development and I think JCMan is right... we shouldn't just end abatements for ourselves and leave them to other cities. We're just starting to expand the benefits of development outside downtown/waterfront.... Jersey City is now emphasizing other areas that really need the investment and these developers do not have the incentive as is to just build in those areas. Until it makes economic sense to no longer grant extensive abatements, as residential abatements will no longer be in the downtown/ waterfront areas because people are attracted now to that area and its viability is much more certain than in the days of abandoned railways and junkyards, then you need to keep the incentives going. Journal Square is nowhere near comparable to the Gold Coast yet... more like the days of the aforementioned abandoned railways an junkyards.

  2. #4427
    Forum Veteran West Hudson's Avatar
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    Quote Originally Posted by citybooster View Post
    Journal Square is NOT the downtown waterfront, to the critics of the approval... there are no more long term abatements for that area, it's potential is already well known to developers. The new project would be the only other large scale project going on in the area besides the first of the three Journal Squared project towers... there is a lot of development ahead before we can say that developers shouldn't get generous tax abatements. First comes the completion of several developments as well as the full conversion of the Loews to a major performance arts center, greater retail and dining options and the development of public plaza space. You get a developed center at Journal Square and you don't have to depend on the granting of tax abatements to encourage building and development there. Possibly effects of development goal all the way to Mc Ginley Square with its apartment tower with grocery store and movie theater. Also much will happen in the Garfield- Jersey Avenue areas as well as Bayside and NJCU expansion/residential/retail for the West Side. Development besides downtown/ waterfront Jersey City is happening.... each city should do what it can do to attract growth and development and I think JCMan is right... we shouldn't just end abatements for ourselves and leave them to other cities. We're just starting to expand the benefits of development outside downtown/waterfront.... Jersey City is now emphasizing other areas that really need the investment and these developers do not have the incentive as is to just build in those areas. Until it makes economic sense to no longer grant extensive abatements, as residential abatements will no longer be in the downtown/ waterfront areas because people are attracted now to that area and its viability is much more certain than in the days of abandoned railways and junkyards, then you need to keep the incentives going. Journal Square is nowhere near comparable to the Gold Coast yet... more like the days of the aforementioned abandoned railways an junkyards.

    Actually, there are still long-term tax abatements for downtown projects. Besides having been given to a select few projects over the past 2 years, the long-term abatements (20 year term) are standard for all projects located within the Powerhouse Arts District, which is right in the heart of downtown.
    Last edited by West Hudson; November 28th, 2014 at 10:05 PM.

  3. #4428

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    It's certainly phased out for most residential developments, but yes a few of the powerhouse district located ones still can get pretty lengthy deals. Ordinary condos or rentals though are not getting it outside of those and precious few other exceptions, though. However commercial tower developments, which we still have seen a great slowdown in since Harborside V and Newport VII, can still receive 30 yr abatements.. until it's second nature for companies to relocate significant portions of their operations here it makes economic sense to use the carrot of grants, breaks, and other lures such as 30 yr abatements.

  4. #4429
    Jersey Patriot JCMAN320's Avatar
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    Thumbs up JC Leads in Housing Development Yet Again!

    Jersey City leads state in new housing permits, Census data shows

    By Patrick Villanova | The Jersey Journal
    on December 01, 2014 at 5:00 PM


    Groundbreaking ceremony for Journal Squared, a three-tower, mixed-used development adjacent to the Journal Square PATH station in Jersey City on Tuesday, Oct. 21, 2014. Reena Rose Sibayan | The Jersey Journal

    New Jersey's second largest city continues to be the state's leader for new housing, according to the latest data from the U.S. Census Bureau.

    Jersey City, which has experienced a residential construction boom in recent years, is tops in the state for new housing starts, with permits issued for 1,286 new units from Jan. 1 through the end of October.

    The Census Bureau numbers, which were released last week, also showed an 18 percent increase in building permits for the state, with more than 60 percent of the permits being for multi-family projects.

    “We are pleased that Jersey City continues to lead the state in new housing starts, helping to boost the economic recovery and the housing market,” Mayor Steve Fulop said in a statement.

    “Jersey City continues to be a magnet for investment and as we work to develop more areas of our city – including Journal Square and Bergen Lafayette – our goal is to continue to lead the state in construction.”

    Of the 1,286 permits issued for new housing units though the end of October, more than 1,100 of those units are for multi-family projects, city officials said, adding that more than 6,000 residential units are currently under construction in Journal Square and Downtown.

    An additional 18,000 housing units have been approved around the city.

    Meanwhile, Secaucus is third in the state in home-building activity, behind New Brunswick, according to NorthJersey.com. The website cited a major rental project being built by a Woodbridge-based developer near the Secaucus Junction train station as one of the factors that led to the Meadowlands community's high ranking.

    http://www.nj.com/hudson/index.ssf/2...l#incart_river

  5. #4430

  6. #4431
    Forum Veteran West Hudson's Avatar
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    Default Construction On at Harbor Lights??

    Great photos as always Nexis! In your first pic for 160 Morgan, is that a pile driver in the background for 160 First Street (aka the long-awaited, much talked-about Harbor Lights)? If so that's great to see it finally happening, and it would be the first major condo project in downtown since 217 Newark Ave. There were at least 2 groundbreakings for Harbor Lights since 2006...but if they're pile driving, it's for real this time.

  7. #4432
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    Yes , there was another project further down the street.

  8. #4433

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    70 Columbus is architecturally interesting

  9. #4434
    Jersey Patriot JCMAN320's Avatar
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    Yes that is Harbor Lights getting going. It has been being cleared out for a few weeks now. Yeah I am actually surprisingly pleased at how 70 Columbus has turned out. The hotel addition in front of the cinder block well should get started once major work on 70 is done. The hotel has an opening date slated for 2016.

  10. #4435

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    My only problem is that I read technology has improved greatly for central air conditioning they don't need to put up those vents for A/C and heating...they take away from otherwise very nice buildings. I'm really happy with 70 Columbus and eagerly awaiting 90 Columbus. Gene Kaufman has a well earned reputation as very mediocre architecturally but did well with this one.

  11. #4436
    Forum Veteran West Hudson's Avatar
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    Has anyone heard anything about the Silverman tower across Marin from Provost Square? Or the KRE building on 9th & Marin?

  12. #4437
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    245-DSC_0778
    by etcbeatty, on Flickr

  13. #4438

  14. #4439

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    Quote Originally Posted by West Hudson View Post
    Has anyone heard anything about the Silverman tower across Marin from Provost Square? Or the KRE building on 9th & Marin?
    Not sure about either but the Silverman tower got stalled by weird NIMBY arguments that at 38 stories and about 400 ft it would be out of character for the neighborhood. HELLO? There's a 40 story tower(the first Provost Square building) that's slightly taller and will have a 36 story, 375 ft. one right behind it (which will have the saved, refurbished façade of the old Manischewitz factory).. another neighbor, 70 Columbus, is 50 stories and roughly 550 ft and will be joined by a second tower of equal height. Across the street you have the 30 story, 310 ft. Grove Pointe... the Silverman tower ought to most certainly get built and no way it's out of character. Only other delay may be Silverman might be having problems getting funding, which hopefully isn't the case. The KRE building I believe did get greenlighted by the planning board despite the nimby pambies crying about it's 16 story height...jeez, it's not ridiculously out of scale but hopefully it's still on track to get going sometime next year.

  15. #4440
    Forum Veteran West Hudson's Avatar
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    I guess time will tell with regard to the Silverman tower. It would be great to see Marin start to fill in as a more complete main corridor (although they def need to work on traffic congestion on the entire stretch, especially south of Shoprite since the Columbus/Marin intersection is always a disaster and south of Columbus, where Liberty Harbor will be adding alot more vehicles to the boulevard.

    btw - I never realized that 70 Columbus is almost as tall as the taller Trump tower - not bad! And for some reason it never clicked for me til now that besides City Hall having its back to NYC, the post office also has its back facing NYC. Interesting.

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