[Nexis4Jersey]

Path to glory
Jersey City development is on the march to greater heights

Read more: http://www.nypost.com/p/news/busines...#ixzz23zOQ5UJa


Like some desperate boy on the make, Brooklyn and Long Island City spent a long time trying to convince apartment hunters to give them a chance.

Now it’s Jersey City’s turn.

Like Hunters Point and Williamsburg, Jersey City is close to Manhattan — only one train stop away (a PATH train, true). But new apartments are a lot cheaper, and a lot more plentiful, here than in the city.

And while new construction often seems stalled or small-ball in the five boroughs, Jersey City is shooting for the moon.

Manhattan trends including eco-friendly living are starting to appear at developments like Madox, the new rental building that will be the first LEED-certified residential building in Jersey City (as well as the first smoke-free one). Madox will open the Paulus Hook neighborhood this fall.

“It might be the first smoke-free [residential] building in New Jersey,” says James Caulfield Jr., a principal with Fields Development Group, which is putting up Madox.
Prices haven’t been set yet for the 131 apartments (there will also be at least two commercial spaces), but one can expect them to be in line with other newer Jersey City luxury properties (in the upper $30-to-lower-$40-per-square-foot range, per year).
In the next 15 months, Paulus Hook will get another boost of development with the Warren at York. This will be a 12-story, 139-unit rental building featuring one-, two- and three-bedrooms that range from 714 to 1,350 square feet.
“We’re going to have a gym, a media lounge, a pool table, a movie screen, sitting areas and a green roof,” says Jonathan Schwartz, senior vice president of BNE Real Estate Group, which is developing the Warren at York.
Clearly, eco-friendly has been accepted by more than one Jersey City developer.

http://www.nypost.com/p/news/busines...#ixzz23lh4i1J3