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Thread: Jersey City Rising

  1. #826
    Jersey Patriot JCMAN320's Avatar
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    A 1,000 fter is not out of the relm of possiblity. The Metropolitan is atleast 850ft. tall so its close. I just can't get over how are skyline will look once all these projects are done. I mean my god these buildings are really beautiful. Also our streetscapes Downtown will be improved by filling in the gaps of big lots that are waitng to be built on and turn it into a viable neighborhood. Historic Downtown is already great and festive but once our Waterfront has these buildings, we will no longer be a side bar to an NYC trip espcially with us having 6 hotels alone in Downtown once Westin and the Liberty Harbor North Hotel is done. We will have the Hyatt, Candlewood, Doubletree, Marriot, Westin and a Sheraton at LIberty Harbor. Also when the Towers at JSQ are built will have a hotel as well so we will 2 hotels are JSQ. Also our colleges here being so big and imporant and expanding....hmm I can see it now. I love the way JC is developing!!!! I can't wait to submit my resume and hopefully land this internship!!!!!!!!

    Great photoshop by the way Z22 and Brunfuss it coming up for approval but from what I hear its going to get approved.

    Jersey City all the way!!!!!!!!!
    Last edited by JCMAN320; August 26th, 2006 at 07:01 PM.

  2. #827

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    The Metropolitan does look fantastic. I see some bickering going on in this thread; As a NYer I am glad to see what Jersey City is doing. Aside from a few projects, the residential architecture is on the same banal lines as what's going up in NYC (especially Trump). I think it's great to have all this housing so close to the city though....even though it's not within our boundaries it cannot be argued as a bad thing.

    The same goes for White Plains and New Rochelle. Dense development near transit hubs, meaning more mass transit taken into Manhattan. Good stuff.

  3. #828
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    Planning Board approves three projects

    171 new residential units in total; 45 for artists
    Ricardo Kaulessar
    Reporter staff writer 08/25/2006


    The Jersey City Planning Board at their Tuesday meeting approved plans for three residential projects.

    The largest is Essex Commons, a seven-story, 70-unit apartment building at 66 Essex St. with 65 parking spaces. Fourteen of the units will be affordable housing.

    The second is the Crescent Court Condominiums, a four-story 56-unit condo complex on First and Second streets with 56 parking spaces. It will replace a warehouse currently on the property.

    The third is the rehabilitation of an old four-story warehouse on 170 Lafayette St. that will produce 45 work/live units for artists, with 50 parking spaces. The project will be known as Fresh Pond. It is located next to the old Whitlock Cordage complex, where 330 mixed-income townhouses are currently being built and will be known as Whitlock Mills.

    Also, the Planning Board was supposed to consider amendments to the Morris Canal Redevelopment Plan, which governs development in the Bergen-Lafayette area of the city, but they decided to table any decision until their next meeting on Sept. 5.

    According to City Planner Robert Cotter, the decision was postponed at the request of City Councilwoman Viola Richardson. There were concerns from her constituents over the amendments that would place the old Assumption/All Saints school on Whiton Street and the nearby Assumption/All Saints church's parking lot on Pacific Avenue in a redevelopment plan without first informing the community.


    Essex Commons

    The Essex Commons project will be developed by Redwood Homes of Mountainside, N.J.

    The current plan calls for a seven-story apartment building with two adjoining three-story townhomes and three adjoining two-story townhouses. The building will face Essex, Greene and Morris Streets.

    The project dates back to 1997 when the preliminary or initial site plan for the project was approved, only to be amended in 2003.

    The changes to the current plan include an "Essex Commons" identification sign placed on the Greene Street side; a decorative fence to be added in front of the townhouses on Morris Street, and four windows are to be eliminated from the fifth and sixth floors of the seven-story building, with the window openings to be filled in by brick.

    Of the 70 dwelling units, 15 will be one-bedroom apartments, 45 will be two-bedroom, and 10 will be three-bedroom.

    Also, 14 units, or 20 percent ofa the overall units are to be set aside as affordable housing as required under the Colgate Redevelopment Plan.

    The project's attorney, Ronald Shaljian, said there are ongoing discussions with city officials to allow the developer to get out of the affordable housing obligation since it will create a "severe economic issue." Namely, the developer would not be able to sell the affordable units at market-rate prices.

    But Cotter said that until there are changes in the redevelopment plan, the 14 affordable housing units "have to be provided as affordable" or "remain vacant" rather than be sold as market rate units.

    The board approved the project, emphasizing that the affordable units remain part of it.

    Crescent Court
    The Crescent Court project calls for the demolition of a warehouse building on the site, to be replaced with a new building with three stories of residential over an indoor parking area.

    There will be 54 condos - 15 one-bedroom and 39 two-bedroom. Also proposed are 54 standard parking spaces and two handicap spaces. Also, there will be one loading dock space.

    The land to be developed is currently owned by JVJ Enterprises LLC, based at 419 Third St. The developers are the Matzel and Mumford Organization of Hazlet, NJ, a division of K. Hovnanian Homes.

    The Planning Board unanimously approved the preliminary and final site plans.

    Fresh Pond
    The Fresh Pond project had been approved by the Planning Board back in March 2003 as 43 live work/live lofts and 5,000 square feet of commercial workshop space. However, the commercial space is being eliminated in order to add two more work/live units.

    The project is located in the Morris Canal Redevelopment Area, which calls for the rehabilitation of abandoned buildings such as 170 Lafayette St. and establishing artists' work/live units.

    At the meeting, Bergen-Lafayette resident Dania Caballero requested that the developers, Fresh Pond LLC, be cognizant of traffic issues that would come about as the result of the project since it is located near the larger Whitlock Cordage project. She asked for a traffic study.

    Conditions were imposed on the developer to include coordinating its project development with the Whitlock Mills owners.

    No date has been set on when the Fresh Pond will start construction.

    Ricardo Kaulessar can be reached at rkaulessar@hudsonreporter.com.


    ©The Hudson Reporter 2006

  4. #829

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    Investment into urban areas such as Jersey City help raise Toll Brothers' earnings in the Northeast

    The up-and-down housing market Hoboken developments, others in northeast help ease Toll Brothers' sag in earnings

    By Tom Jennemann - The Hudson Reporter - 08/27/2006

    ON THE WATERFRONT – Toll Brothers is currently building an 832-unit project at the site of a former Maxwell House Coffee plant on the central waterfront in Hoboken. The first building in the complex is scheduled to open later this year or early next year.
    Toll Brothers, Inc., a massive national real estate development firm based in Huntingdon Valley, Pa. with major development interests in Hudson County, reported Tuesday that its third-quarter profits fell 19 percent because of the weakening national housing market.

    The company also slashed its earnings estimate for the full year, a sign that the market may not stabilize in the immediate future.

    But one of the bright spots in the report was that Toll Brothers' revenues in the Northeast increased, partially because of the company's reinvestment into urban areas such as Hoboken and Jersey City.

    Toll Brothers reported fiscal third quarter profits of $174.6 million, or $1.07 per share, compared with $215.5 million, or $1.27 per share, in the previous third quarter.

    In a statement, Robert I. Toll, chairman and chief executive officer, said that fewer investors are flipping properties for a quick profit, and homes, especially luxury ones, are lingering on the market longer.

    "The continuing malaise in the housing market, we believe, is the result of an oversupply of inventory and a decline in confidence," Toll explained. "The speculative buyers of 2004 and 2005 are now sellers. Builders that built speculative homes are trying to move them by offering large incentives and discounts, and some anxious buyers are canceling contracts for homes already being built."

    Toll added, "This overhang in supply and the aggressive discounting of many builders is undermining consumer confidence and keeping buyers on the sidelines as they continue to worry about the direction of home prices."

    He added that the current environment has led the company to reduce its land position. In total, Toll Brothers now owns or controls approximately 82,900 lots, compared to approximately 91,200 at the end of the second quarter.

    "We continue to re-evaluate the lots in our approval pipeline and to renegotiate or drop those options that we believe are no longer attractive," Toll said.

    Toll in Hoboken

    In nine months prior to July 31, 2006, Toll Brothers sold 1,070 units in the northeast, as compared to only 793 for the same period in 2005.

    Revenue in the northeast was $698 million for the first nine months of 2006 compared to only $447 million for the first nine months of 2005.

    Beginning in 2003, the company made a significant investment in urban properties in Hoboken, Jersey City Philadelphia, Chicago, and Providence, R.I. Before that, it had focused on suburban markets.

    Their holdings in Hoboken include: the 525-unit Hudson Tea building on the northern waterfront, and the adjoining 758-unit mixed-use expansion at the Hoboken Cove.

    They also bought the 832-unit residential "Maxwell Place" development at the former Maxwell House factory on the central waterfront. They purchased most of the Manhattan Building Company and its projects, which include the 324-unit Sky Club on Marshall Drive, and the 230-unit 700 Grove St. project just over the Jersey City border.

    In fact, Toll Brothers has established a City Living division, which has its office in Hoboken, to market and sell the Toll Brothers' condos in and around Hudson County

  5. #830
    Jersey Patriot JCMAN320's Avatar
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    im confuesed Essex Commons is alread completed. Unless they are talking about making changes to the current building, they are way late. lol. Everything else I can't wait to get built, guess that means I'm going back to 30 Montgomery St. to the city Planning Dept to get more info.

  6. #831
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    Mack-Cali rents Jersey City site

    AUG. 23 3:07 P.M. ET Mack-Cali Realty Corp., a real estate investment trust that focuses on office and commercial buildings in the Northeast, on Wednesday said it leased 228,193 square feet at Harborside Financial Center Plaza 1 on the Jersey City waterfront to an international bank.

    Financial terms were not disclosed and lease agreements prohibit identifying the lessee, a company spokeswoman said.

    The lease term is for 10 years and six months. It includes a renewal for 90,000 square feet and an expansion of 138,193 feet.

  7. #832
    Jersey Patriot JCMAN320's Avatar
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    Z22 I'm loving the way our skyline will be lookin a few years. The style of architecture in Jersey City has come along way since those early buildings in Newport.


  8. #833

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    I think the Metropolitan looks beautiful - Let's get it built!

  9. #834

    Default are residence at liberty national under construction?

    I noticed that Emporis now lists the "Residences at Liberty National" 3 high rises as under construction, which it didn't a few weeks ago. Is this a data entry error or are they really going up, and all under construction?

    Also, JCMan, I've been AWOL from the thread, but let me now add my best wishes in your job search.

  10. #835
    Jersey Patriot JCMAN320's Avatar
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    Thx investor, umm I'm not sure I thought the residences were u/c maybe I'm wrong.

  11. #836
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    Default RE:Emporis & RLN

    I listed them as u/c about a month and a half ago when I went to the southern border of Liberty State Park and noticed tons of equipment and earth-moving going on. I heard from someone that the construction currently taking place near the northeast corner of the Liberty National Golf Course might be for a club house or other feature of the golf course. Please let me know if you have any info from a legitimate source claiming this, otherwise I will keep them listed as u/c at emporis.

    I plan on getting some new photos in two weeks (no vertical construction had begun between my last few visits to the site, so it appears that the project is very slowly progressing).

  12. #837

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    Quote Originally Posted by tbal View Post
    I heard from someone that the construction currently taking place near the northeast corner of the Liberty National Golf Course might be for a club house or other feature of the golf course.
    I said that earlier in this thread, based on www.libertynationalgc.com website info which gives the clubhouse completion date as 2008.

    No firm info is available on the towers construction at www.appliedco.com.

    For Paul Fireman (owner of Liberty National), building a permanent clubhouse is a priority, because he needs to attract millionaire members and he does not want them to spend too much time in a temporary, trailer-based clubhouse, no matter how luxurious.

    Having said that, one of the towers is planned right next to the clubhouse, and hopefully the ongoing site prep work will result in the first tower going up soon.

  13. #838

    Default CityHomes at Bayside

    Anybody know anything about the following...

    http://www.centexhomes.com/New-Jersey/N46288.asp

    Stuff is popping up all over the place.

  14. #839

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    I am glad to see all this new construction going on all over JC, but one thing that concerns me is the fact that if any of this new construction is seeking Green Building certification or if Jersey City is at least encouraging this type of development. I dont think this is happening, so we'll end up with high maintenance energy guzzling buildings. I know for a fact that NYC is encouraging Green Building certification on many commercial and residential buildings. Does anyone kow if JC is doing something similar? In order to keep the city competitive we need to see long term.....any thoughts on this?

  15. #840
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    Green certified buildings might be nice, but I don't think the future of Jersey City will depend on them. If energy prices rise more, developers will probably make buildings more efficient to make them more attractive to buyers.

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