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Thread: Jersey City Rising

  1. #5281
    Jersey Patriot JCMAN320's Avatar
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    ^ That is very good news. Even though we may not see a building over 800ft in JSQ in the near term, those buildings being elevated on the Palisade rock cliffs will make for a impressive presence on the JC skyline regardless. There is no height limit in the area so we will probably see one between 800-900 ft eventually.

    It absolutely ridiculous that the FAA is clamping down on the height of these buildings to 900 feet along the waterfront. It seems to perfectly okay to have 1,776ft building across the Hudson in Lower Manhattan and another 1,000ft over in Brooklyn but can't have a building over 900ft.

    The tower crane for 99 Hudson is being assembled today. The mast portion has been erected along with the cab; all that is left to attach is the jib and vertical construction can commence!

  2. #5282

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    Yep... my brother and I noticed the crane preparations yesterday and soon enough it's going to be exciting as vertical construction of 99 Hudson really can get going now with everything in place. The guys at Skyscraperpage were flabbergasted by just how much the FAA had cut two towers on Queens that had been intended to rise over 900 ft to only around 750 ft, so for whatever reason yeah they're being especially tough on some high rise zones.

    But like you implied JCMAN, being that Journal Square being elevated will still make those towers stand out in the skyline. Hopefully the one at 30 Journal Square which probably will rise once the two Journal Squared towers are completed can get a height bump from 72 stories, 799 ft since it's in a location that potentially has no height limit(one of the very few that have this maximum potential) and if the specifications of the proposed Loew's arts district plan are realized another couple of 700-800 ft. residential towers can be realized.

    Do you think any or both of the two remaining lots on Hudson Street(owned by Goldman Sachs, 55 and 50 Hudson Street) have any potential soon of being developed as well as the huge lot at 111 First that was supposed to be the site of the now discarded Koolhaus jenga tower? Mayor Fulop made a thing last year about the possibility of at least a 900 ft mixed use tower at the 50 Hudson lot. Getting one or two 900 ft towers in those slots will fill in the skyline nicely. Plus that huge lot Evertrust owns behind Harborside 5... what do you think could go there? We saw late last year Mack- Cali making noises about finally building Harborside 4 as an office tower, and the renderings made it appear pretty tall compared with other buildings around... I estimated something around 700 ft.

  3. #5283

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    Anyone know what is going on Hoboken Ave across from the Hoboken Motor Cycle club. There is a lot of construction activity there.

  4. #5284

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    Quote Originally Posted by beastofbergen View Post
    Anyone know what is going on Hoboken Ave across from the Hoboken Motor Cycle club. There is a lot of construction activity there.
    it may be one of these



    http://www.hbrownstone.com/vlp/

  5. #5285

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    anything happening with 99 Hudson? Journal Squared?

  6. #5286
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    The core of 99 Hudson is going up now, and the crane is up. You can see pics here: http://yimbyforums.com/t/jersey-city...-floors/296/69

    One Journal Square has seen no movement.

    By the way, I was at the New Journal Sq Community Association meeting today and a representative from Harwood Properties was there to talk about their plan for the Journal Sq arts district. They want to build 1,200 apartments on the site of their current 1,000-space parking garage at 801 Pavonia Ave. The apartments will be split between two towers. The total amount of parking will be reduced to 450 spaces. There will also be a separate low-rise building with a black-box theater and one with a gallery. There will be a park space at Van Reipen Ave, there will be an esplanade along the PATH tracks, and there will be a pedestrian plaza at the end of Magnolia Ave. They hope to go before the Planning Board in the next month for approval. Then they hope to get financing and start construction within two years, with full build-out in 7 to 8 years. We'll see how they do, given that the multifamily financing market is tightening up. The slides included pics of the proposed site plan and preliminary renderings of the towers. I couldn't get good pics of the slides, but the rep said that they'd email them to us soon. I'll post them when I get them.

    The Harwood rep also said that a different developer is in the process of buying the Journal Sq Pub building south of the Loews Theater, as well as the buildings that include Boulevard Drinks and McDonalds to the south of that. They think we'll see a development proposal there soon, and hope to work with that developer on maintaining the new esplanade along the PATH.

    Also, the New JSQ Association also hosted a meeting with the developer of 232 Sip Ave 10 days ago. He hopes to build a 14-story, 129-unit apartment building there, designed by LWDMR Architects. The developer said that he'll try to get financing as soon as he gets approval for the building. He said financing is getting hard to come by in Jersey City, and he figures that half of the projects proposed/approved for Journal Square will not get built due to financing troubles.

    Finally, I just wanted to warn everyone that Councilman Boggiano is trying to gut the Journal Square 2060 Redevelopment Plan. He convinced Fulop and the planning board to kill a 6-story proposal on Perrine Ave that was as-of-right, and I think he wants to restrict density on most of the blocks west of Summit Ave. He said that developers who want to buy two-family houses to build "tall buildings" (i.e., 6-story buildings) should "get the hell out of our neighborhood." Fulop appears to be going along with Boggiano's silly NIMBYism because he doesn't want Boggiano to run against him in the mayor's race in November. He said the city will re-evaluate the 2060 plan this year. I hope that people on this board will join me in opposing Boggiano and his NIMBYs when the time comes.
    Last edited by Hamilton; March 11th, 2017 at 07:25 PM.

  7. #5287

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    City center project is still a no go anyone have any info?

  8. #5288
    Forum Veteran West Hudson's Avatar
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    My guess is it's a financing issue. There are way too many new apartments hitting the market over the next year and it's going to take awhile to absorb them all.

  9. #5289

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    I think though that it would depend on the developer and this is also Kushner owned (other side of the family, sans Jared selling his shares in the company) property... I don't think it makes any sense they would have that kind of difficulty, more the smaller developments planned for the area. Maybe JCMAN or someone else has some info?

  10. #5290
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    There's demand for apartments, but at the mid-market level, not the luxury tier. Richard LeFrak pointed out as much today on Bloomberg.
    https://www.bloomberg.com/news/artic...15-lefrak-says

    These developers need to figure out ways to cut costs on the projects--eliminating amenity spaces, putting in entry-level appliances and finishes, cutting parking spots, etc. Cut the rent by 20%, and you'll have 100% occupancy in a couple of months.

    Like I said regarding 1JSQ last year, money talks, bullsh*t walks. Kushner Cos is sitting on a huge pile of cash right now--in November they pledged to invest $1B into other developers' projects. If they were serious about 1JSQ, they would put their money where their mouths are and there would be shovels in the ground already. I'm sick of the renderings and the empty promises, I'm mad at myself every time I get my hopes up about that project. Fool me once? Shame on you. Fool me for 10 years in a row?

    I'd like nothing better than to be proven wrong on 1JSQ. But we've gone through this same BS so many times at this point it's surreal. The developers' names change, but everything else is deja vu.

    Anyway, this is why it's important that the 6-story zoning on the side streets of Journal Square doesn't get eliminated. Those projects are more realistic than these super-expensive pie-in-the-sky megaprojects; a few are already topping out. They add vibrancy and customers to the shopping streets, and provide needed workforce housing. We can't let the Boggiano drag us back into the past.

  11. #5291
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    https://therealdeal.com/2017/03/15/t...neighborhoods/

    Likewise, Morali said Kushner Companies is bullish on Jersey City after seeing its own tenants in Manhattan and Brooklyn seek less expensive rents. Were very focused on affordability, he said. Even though rents in Jersey City are rising, Were still at 50 percent of what [wed] get in Manhattan.

    If they're so freaking bullish on Jersey City, put some more freaking equity into 1JSQ already or shut up.

  12. #5292
    Jersey Patriot JCMAN320's Avatar
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    Again from what I am hearing One JSQ is going to break ground either end of this month or next month. Hold up is coordinating staging with PA.

  13. #5293

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    I hope so, JCMAN. There's a lot of money in the Kushner company so I don't think there's any problem of financing or attracting others.. they also are marketing One Journal Square as a more affordable take on luxury rentals so there's no high end worries here like LeFrak was talking about.... he was discussing especially in New York that the very high end(especially condos) were saturated and much more of a mid level market in both condos and rentals were the way to go, so whichever Kushners are running the show in place of Jared(believe his father Charles is now running the company) seem to have the memo. But like Hamilton said, it's time to put up or shut up. ESPECIALLY when their rival Kushner cousins are very close to starting work on the second and largest of the Journal Squared towers. Btw, saw a link in Skyscraperpage which has the tower set at 779ft, twenty feet taller than the 759 ft reported.

  14. #5294
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    Quote Originally Posted by JCMAN320 View Post
    Again from what I am hearing One JSQ is going to break ground either end of this month or next month. Hold up is coordinating staging with PA.
    Thanks for the update, JCMAN. Again, hoping your sources are right. Nothing would make me happier than to finally be proven wrong regarding my cynicism on this project.
    Last edited by Hamilton; March 16th, 2017 at 01:33 PM.

  15. #5295

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    Hamilton, the cynicism is very relatable. Ten years since the (who I hope do a lot better with the Loews Theater area towers possibly on the horizon) buildings on the site were demolished and the Harwoods promised a renaissance for Journal Square with a two tower proposal. They even got as financing partner a very deep pocketed public union real estate investment firm, who found the time shortly after hooking up with the Harwoods to buy Newport Tower for $400 mil. We even got exciting, interesting new renditions a fewyears back but they never lifted a finger to actually start up the project. All this while Journal Squared got proposed and partly realized with its first tower completed and now ready for market in less than 5 years. I was thrilled when the Mayor's office pushed the developer to sell and Jared Kushner bought the property, and also poised his company to develop a huge tower centering over the Jersey Journal building, as well. It's two plus years since the sale to Kushner, so let's get moving!

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