Fantastic news to report.
The 545 units at 70 Columbus, the recently completed 50-story residential tower, is 60 percent leased after just 4 months of opening. It typically takes about 3 years for a new apartment building to reach stabilized occupancy, maybe a little longer for luxury apartments. 70 Columbus is on track to be fully leased within 6 months. An amazing accomplishment which changes development assumptions in Jersey City. Groundbreaking for 90 Columbus is imminent as all permit have been issued by the city. Existing planned developments will be hastened and more developers will be attracted to due to the strength of the market.
http://www.nj.com/hudson/index.ssf/2...easing_fo.html