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  #61  
Old Posted Jan 9, 2015, 4:34 AM
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Historic Downtown Jersey City among nation's most expensive neighborhoods for renters: report

By Patrick Villanova | The Jersey Journal
on November 21, 2014 at 9:53 AM

Historic Downtown Jersey City has been named one of the most expensive neighborhoods in the country for renters by Apartments.com (Google Maps image)

Historic Downtown Jersey City is among the nation's most expensive neighborhoods for renters, according to a recent online study.

Apartments.com ranked the popular neighborhood near the Jersey City waterfront No. 8 on its list of the 14 most expensive neighborhoods for renters in 2014.

The website put the rankings together using a variety of financial factors, including average cost of rent, household income, percentage of paycheck spent on rent each month and inflation. Neighborhoods where a high percentage of monthly household income was spent on rent were given the most weight.

With its brownstones, idyllic parks and close its proximity to Manhattan, renting a one-bedroom apartment in Historic Downtown Jersey City comes at a steep price -- $3,068 per month, according to Apartments.com.

Comprised of low-rise buildings, brownstones and parks, this neighborhood features many cultural attractions including the Jersey City Museum, the Hudson and Manhattan Railroad Powerhouse.
http://www.nj.com/hudson/index.ssf/2...elated_stories
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  #62  
Old Posted Jan 9, 2015, 4:38 AM
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Hudson County approves $50.5 million bonding for new court house, moving DPW garage and land swap

By Agustin C. Torres | The Jersey Journal
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on December 12, 2014 at 1:30 PM, updated December 12, 2014 at 1:32 PM

The Hudson County Board of Freeholders approved $50.5 million in bonding yesterday for a new criminal courthouse, moving the DPW garage and purchasing property as part of a land swap that allows part of a county North Hudson park to be used as a preschool.

During the public comments on the second reading of the funding ordinance, Superior Court Assignment Judge Peter F. Bariso, Jr. called the new building overdue. Bariso cited from studies issued in 1988 and 1991 that called the building dysfunctional, calling for its replacement.
http://www.nj.com/hudson/index.ssf/2...l#incart_river

Last edited by Nexis4Jersey; Feb 5, 2015 at 2:29 PM.
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  #63  
Old Posted Jan 16, 2015, 2:20 AM
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Revealed: 360 9th Street, Jersey City





Quote:
The new developments comprising Jersey City’s current boom don’t just come in high-rise formats, and Fogarty Finger has already designed The Art House, a 120-unit building in the Powerhouse Arts District. Now, YIMBY can reveal another of the firm’s projects across the Hudson River, this time at 360 9th Street.

The building is located in the Hamilton Park Historic District and will replace a one-story and 80,000 square foot factory, which sold to 360 9 Street LLC for $5.3 million back in 2012.

Fogarty Finger’s plans for the 130,000-square foot structure are decidedly contextual, and per the firm’s website, the facade will echo the Historic District’s “rhythmic brick rowhouses.”

[...]
===============================
http://www.yimbynews.com/2015/01/rev...ty-finger.html
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  #64  
Old Posted Jan 16, 2015, 6:51 PM
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Extell, Kushner Companies Close $132M in Financing on New Jersey Purchase

GUELDA VOIEN
1/16/2015


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A partnership of Extell Development and Kushner Companies closed a new take-out loan of $97 million while assuming $32 million in debt on a New Jersey multifamily building the pair purchased last November.

The duo bought Pier Village, a 492-unit mixed-use development at One Chelsea Avenue in Long Branch, for $180 million, with $51 million in bridge financing from Capital One. Now, they’ve finalized a $97 million long-term fixed-rate take-out with Fannie Mae, which retired the Capital One bridge loan, and assumed a $32 million Freddie Mac loan on the property originated by PNC Bank, according to representatives for both companies. The Freddie Mac loan was originated in mid-2013 and carries a seven-year term.

“We are thrilled to have completed the agency financings for our purchase of this incredible asset with Extell Development,” said Laurent Morali, a managing director with Kushner Companies, in a statement provided exclusively to MOW. “Working with Capital One, Fannie Mae, PNC and Freddie Mac is a testament to the quality of the asset itself. We … look forward to seeing Pier Village continue to thrive as a gem along the Long Branch coast.”

The Pier Village community holds more than 100,000 square feet of retail—including restaurants, shops, and a fitness center—as well as apartments, along the Atlantic Ocean.
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  #65  
Old Posted Jan 20, 2015, 6:25 PM
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Announced 2day. we continue to remake the #JerseyCity skyline moving forward on the largest building in #newjersey


Credit: https://twitter.com/StevenFulop/stat...968194/photo/1
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  #66  
Old Posted Jan 20, 2015, 7:30 PM
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Better Rendering:



Also:

Quote:
The Jersey City planning board is expected to vote on the 99 Hudson St. plan this evening. If the project is approved by the planning board and city council, construction is expected to begin this spring.
AND:

Quote:
According to Fulop, the state is on track to become the largest city in New Jersey - passing Newark - in 2016.
=============================
http://www.northjersey.com/news/busi...n-nj-1.1228350
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  #67  
Old Posted Jan 20, 2015, 9:56 PM
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Crazy that this is the 2nd 95-storey tower proposal in 2014. Liberty Rising is the other one. This one has a decent shot of getting built, with approval expected tonight and construction to begin in the Spring.
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  #68  
Old Posted Jan 21, 2015, 9:24 PM
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That can't be right

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Originally Posted by chris08876 View Post
Better Rendering:



Also:



AND:


=============================
http://www.northjersey.com/news/busi...n-nj-1.1228350


Not sure I read that right . IF Fulop said Jersey City would be larger than Newark , sometime in 2016 ......
I want some of what he's smoking . Latest estimates put Newarks population at 278,427 ( 2013 stats ) , and
Jersey City population at 257,342 . I don't know when he made that statement , or what the increase in
population for both cities has been over the almost two years since the 2013 stats but as much as I like Jersey City , I don't see it gaining the number one spot in the state by anytime in 2016 .
However , I am excited to read about the possibility of a 950'er going up in downtown JC . Hope it happens .
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  #69  
Old Posted Jan 21, 2015, 9:34 PM
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I've heard various estimates for that population eclipse. 2018 has been mentioned, but also, Fulup has access to the city data so IDK if he's basing it on the projections that the city makes. I tend to believe the estimates from the economic office more so then something generated from lets say the census. A lot can happen in a year. 2014 probably helped the city gain many new residents with all of the various little projects going up. 2015 will see a couple finish construction, and begin leasing.

But either way, it will happen overtime. End of 2017 sounds like a safe bet.
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  #70  
Old Posted Jan 23, 2015, 3:27 PM
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Boom!

Liberty Science Center announces $230 million expansion
http://www.nj.com/hudson/index.ssf/2...ion_expan.html
Quote:
JERSEY CITY – Liberty Science Center today announced a $230 million plan to build a science and technology campus, one museum officials say will launch businesses, create jobs and offer science education for local youth.

The project, dubbed SciTech Scity, is set for 16 acres of city-owned property adjacent to Liberty Science Center. Plans for the center include a technology business incubator, biotech and coding labs and a 135-room science-themed hotel and residences for 275 scientists, entrepreneurs, and college students.

There are also plans for a grade school with a focus on science, technology, engineering and math.
From the Mayor's facebook page:

Quote:
I wasn't joking when I said we are committed to building on our great history into a world class city.
Today, we announced that we will be working with Liberty Science Center on a $230 million dollar expansion...
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  #71  
Old Posted Jan 23, 2015, 4:23 PM
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Nice. Now if only Hoboken had a pro-development mayor things could be even better. An addition to the center is much needed. Further breath light into a great institution of learning.
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  #72  
Old Posted Jan 23, 2015, 4:43 PM
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edit

Last edited by CIA; Jan 23, 2015 at 5:07 PM.
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  #73  
Old Posted Jan 23, 2015, 5:11 PM
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With Newark's Downtown and Ironbound redevelopments picking up...it will be a tight race... Jersey City is starting to become really expensive like Hoboken , while Newark and its surrounding towns are still cheap and will remain cheap for at least another decade. Jersey City is already losing its working & creative class populations which are moving to Newark...
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  #74  
Old Posted Jan 23, 2015, 5:46 PM
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Jersey City is expensive near the waterfront. Parts of Journal Square are still viable. The next 5 years might change that (Journal Square), but its still cheap in the sense. Now is the time to rent. I talk to people who wanted and/or are planning to move to JC, but they all think waterfront. There's a stigma against Journal Square and the surrounding areas. They think ghetto, but I tell them thats not the case.

The area around Hamilton Park is viable, likewise some homes around Van Vorst Park. Location is key, but the city is far from expensive. Now if you want a ripoff, and enjoy living in a 400-500 sq ft shoebox, than Hoboken is right there. More housing in JC, without getting raped in rent. Plus, drinks aren't $14 for a Whisky sour thats weak as hell.

Friend of mine makes 55k a year, lives in Hoboken (not even in a exclusive area either), and spends 50% on housing. Its nuts. I told him Journal Square, but he enjoys paying $1,800 a month on a 450 sq foot shack. Then he wonders why he's poor after taxes, and other living expenses/maintenance fees.
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  #75  
Old Posted Jan 27, 2015, 3:18 PM
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With 99 Hudson St looking to break 950ft I wanted to spin off the conversation about Jersey City development in general.

Personally, I love the receptiveness the city has towards these tall towers, and the eagerness of developers to build. I hope the market remains to absorb all the new available space.

I see a few things that hold Jersey City back though.

First, is commercial development. Everything that's going up is residential. While there are a number of commercial towers dotting the waterfront, I think Jersey City really needs to up it's game and lure more business across the river. I know of a few companies with offices in JC that are considering moving back to NY.

Second is retail. Washington Boulevard is surrounded by slender towers with bunker parking garages around their base. Retail along the waterfront is sparse. The Newport Center mall isn't enough to anchor the area. Without many shops, restaurants, cafes, etc., there is no feeling of community or culture. It's just a stark grid of towers and nothing else. While I acknowledge it'll never be like say Hoboken, it would be really nice to see development in this regard.

Finally, and most importantly, transportation. Being right next to the Holland tunnel and I-78 is great. The light rail is also very useful to get around. My big beef is with the Port Authority and the PATH system. The PATH is the single most convenient and frustrating way to get across the river. When it runs, you can be whisked to Manhattan in minutes. Newport and Exchange Place provide quick and easy access to NY making it an attractive place for city workers to live. However the PATH doesn't always run. It seems like every day there are 'switch problems' or other 'service disruptions'. They even talked about suspending late night service all together. I think Jersey City's single biggest Achilles heal is the PATH. Until the PA can pull their heads out of each other's asses it's going to be hard to convince people that Jersey City is really worth their long-term investment.
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  #76  
Old Posted Jan 27, 2015, 4:15 PM
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Originally Posted by CIA View Post
Newport is home to some of the worst architecture and urban design I've ever seen. It's pathetic. The good news is that there is a new development planned just south of Newport by the Harsimus Cove HBLR stop. Towers of various heights lined with retail at their base will have a much better interaction with pedestrians on the street. Only a matter of time before ShopRite lot gets redeveloped along with Newport Mall itself.
It is bad. Feels almost dystopian especially on the street level. Theres also a pitiful excuse for a playground; coincidentally near the sales office for the area.

Newport mall needs an upgrade. It feels like a half-ghetto Short Hills. Its weird because part of me likes half of it (luxury part/decent stores), but there's another side of it that feels isolated and tacky. Better to take the PATH and shop at Century 21 than to get clothing from Newport mall.
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  #77  
Old Posted Jan 27, 2015, 4:46 PM
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Originally Posted by chris08876 View Post
It is bad. Feels almost dystopian especially on the street level. Theres also a pitiful excuse for a playground; coincidentally near the sales office for the area.

Newport mall needs an upgrade. It feels like a half-ghetto Short Hills. Its weird because part of me likes half of it (luxury part/decent stores), but there's another side of it that feels isolated and tacky. Better to take the PATH and shop at Century 21 than to get clothing from Newport mall.
They definitely made a lot of mistakes with Newport, but they learned a little bit because Shore Club/Aquablue/Laguna at least have base retail. However, they are killing themselves because they must have the rent way too high. All the stores are overpriced and many spots are not being leased. Laguna retail has been empty for almost two years now.

Also the whole meter parking there kills me. Just make it free street parking all around.
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  #78  
Old Posted Jan 27, 2015, 4:49 PM
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Originally Posted by drumz0rz View Post
I see a few things that hold Jersey City back though.

First, is commercial development. Everything that's going up is residential. While there are a number of commercial towers dotting the waterfront, I think Jersey City really needs to up it's game and lure more business across the river. I know of a few companies with offices in JC that are considering moving back to NY.
Commercial development will follow residential development as companies want to be located in areas accessible by employees and customers. The more residential development we see now, the more office space we will see created in Jersey City. There may be a lag time of 10 or 20 years, but it will occur if the economy remains stable.

The PATH has a great reverse commute as throngs of Brooklynites have taken jobs in Exchange Place, Newport and Newark. JC pulls from the same talent pool of NY. Trains are almost as packed as the ones heading into Manhattan. I can see large companies moving their back office operations to areas near Manhattan, like Jersey City, while maintaining their public profile in the city. Class office space in the city is very expensive. Jersey City is much more affordable alternative.

Quote:
Second is retail. Washington Boulevard is surrounded by slender towers with bunker parking garages around their base. Retail along the waterfront is sparse. The Newport Center mall isn't enough to anchor the area. Without many shops, restaurants, cafes, etc., there is no feeling of community or culture. It's just a stark grid of towers and nothing else. While I acknowledge it'll never be like say Hoboken, it would be really nice to see development in this regard.
Agreed. Although I think Newport is a lost cause. Best we can hope for is redevelopment of the mall.

Quote:

Finally, and most importantly, transportation. Being right next to the Holland tunnel and I-78 is great. The light rail is also very useful to get around. My big beef is with the Port Authority and the PATH system. The PATH is the single most convenient and frustrating way to get across the river. When it runs, you can be whisked to Manhattan in minutes. Newport and Exchange Place provide quick and easy access to NY making it an attractive place for city workers to live. However the PATH doesn't always run. It seems like every day there are 'switch problems' or other 'service disruptions'. They even talked about suspending late night service all together. I think Jersey City's single biggest Achilles heal is the PATH. Until the PA can pull their heads out of each other's asses it's going to be hard to convince people that Jersey City is really worth their long-term investment.
The more people who use the PATH, the louder voice PATH riders will have with the politicians. The PA was very quick in retracting its proposal to eliminate late night service, thanks to all the wealthy folks in Hoboken and JC raising hell. With the luxury rental boom in Jersey City, PATH service will be forced to improve. It's just too powerful of a voting block to ignore and the need gets more pressing with each tower going up.
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  #79  
Old Posted Feb 13, 2015, 9:13 PM
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Quote:
NJCU business school plans to turn 'Wall Street West' into learning environment


By Matthew Speiser | The Jersey Journal
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on February 10, 2015 at 5:46 PM, updated February 10, 2015 at 7:30 PM


Rendering of plans for the new New Jersey City University School of Business on the Jersey City waterfront. (Image courtesy NJCU)
The Jersey Journal

JERSEY CITY
-- Downtown Jersey City, also known as "Wall Street West," will now serve as more then just a financial hub for New Jersey.

It will be a classroom.

New Jersey City University has announced plans to open a new school of business at 2 Harborside Plaza next to the Exchange Place PATH station in time for the fall 2015 semester.

"The NJCU School of Business will be part of the business community in an exciting, world-class environment where students will study with top scholars and practitioners and learn to become future business leaders." NJCU President Sue Henderson said in a statement. "The benefits of this new development are beyond measure for our students, faculty, and corporate partners."

The school signed a 20-year lease with Mack-Cali Reality in December on a 70,000-square-foot facility formerly occupied by JP Morgan. According to NJCU Vice President for Advancement Daniel Elwell, the building is currently being gutted and renovated to include new plumbing, electrical, and IT setups.

Once complete, Elwell said the facility will be state-of-the-art and feature 10 academic instructional rooms outfitted with smart boards and the most up to date computer systems. There will also be a 300-seat auditorium, a trading floor used to simulate real-life Wall Street environment, and Bloomberg terminals used to monitor and analyze real-time financial data.

Elwell also said the move to Downtown Jersey City has given the university new partnerships with JP Morgan, Provident Bank, and Wyndham Hotels, with more prospective partners continuing to reach out. These partnerships will allow NJCU to offer new internship, scholarship, and mentoring programs with the Downtown financial institutions for its students.
http://www.nj.com/hudson/index.ssf/2...l#incart_river
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  #80  
Old Posted Feb 13, 2015, 9:15 PM
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Quote:
4,100 get employment assistance in Jersey City


By The Jersey Journal
on February 13, 2015 at 7:55 AM

More than 4,100 people received access to employment assistance and job training in 2014 through Jersey City's One Stop Career Center, the city announced.

In its first year, the Jersey City prisoner re-entry program enrolled 178 residents, placing 115 in jobs and offering them a second chance at a productive life.

"Jersey City has been an example for job growth and job creation in the region, but none of that matters if we don't offer access to those jobs for all of our residents," said Mayor Steve Fulop. "We have aggressively expanded our partnerships with corporate stakeholders, developed vocational programs and are creating a model prisoner re-entry program that is offering hundreds of residents a second chance at life."

On Tuesday, the administration announced U.S. Bureau of Labor statistics that show Jersey City continues to outpace both the nation and the state and other major cities in the NY/NJ region in reducing the unemployment rate.

The Fulop administration said in a press release that more than 9,000 jobs have been added and Jersey City's unemployment rate has dropped from 10.6 percent to 6.5 percent.
http://www.nj.com/jjournal-news/inde...l#incart_river
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