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  #821  
Old Posted Nov 5, 2018, 9:34 PM
CIA CIA is offline
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Originally Posted by citybooster View Post
I love where your mind is going with this, and I live very close to the development. Of all the plans I've seen, I don't see anything above 15 stories and most 5-10. They want to make it 35% affordable, about 2,500 of the 8,000 units eventually planned... and it makes sense to encourage mixed income neighborhoods instead of segregating housing by neighborhoods. I just don't think they are going to wind up going this way, unless you have more than just an inkling or hunch.


Wanted to add that it's great to see you on, missed our Jersey City briefings by our very own CIA As reported in another Jersey City development related site, am hearing that Mack Cali still intends to start 25 Columbus by the end of the year. Hoping you have some more tidbit and info about this and other projects.
Ah, thanks citybooster - I still follow development news. It's just been a lot slower this year than it the past from my anecdotal experience. Whatever concerns and whispers about oversupply may have been subdued this year by the slower pace of new construction. Everything coming online is being leased out in near-record times.

I have no inside info regarding Bayfront other than the math. $170 million in bonds to be repaid with interest, with 2,500 affordable housing units, a possible Hudson-Bergen Light Rail extension, and other site conditions that need improvement. It's possible the end product will exceed the 8,000, or about 80 units an acre plus the commercial and retail space. We shall see.


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  #822  
Old Posted Nov 6, 2018, 12:19 AM
towerpower123 towerpower123 is offline
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Is there any chance of something actually happening at 2-30 Montgomery? The renders on CityRealty show a 70 story tower taking up the whole block but it seems odd as 30 Montgomery, the office tower portion, was just renovated. Perhaps the crappy podium could be replaced with a tower.





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  #823  
Old Posted Nov 6, 2018, 3:01 AM
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No, it's a dead plan. The choice was either to demolish or renovate several years back and they choose to renovate.

Plus there isn't that much demand yet for that much commercial. It's a residential market and there is plenty of vacant and under utilized lots to build.
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  #824  
Old Posted Nov 6, 2018, 3:50 AM
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So with word that HQ2 will land in Long Island City (and Crystal $hitty ), that should be a boon for nearby Jersey City. It's not just the 25,000 jobs that Amazon will bring but also companies and contractors that also do business with Amazon along with the economic multiplier effect. Google claims the commute can be done in under an hour from Journal Square and under 50 minutes from Grove PATH Station. If Jersey City sees 1/25th of the benefit, that will still be over a thousand new homes needed.
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  #825  
Old Posted Nov 6, 2018, 5:54 PM
citybooster citybooster is offline
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I knew 30 Montgomery wasn't going to be developed since I heard they were indeed choosing to revamp and update that building a couple of years back, and you're right about residential being more the case for development than office space(especially since it would be Harborside 4 that would start getting the ball rolling on that when Mack Cali finally gets going on that).

Just hopeful we have some projects really ready to be getting underway early/mid 2019 plus the 25 Columbus development supposed to have groundbreaking by the end of the year. Always look forward to your posts, perspectives and info. Noticing a lot of building right by the Liberty Park light rail station, that area is going to really come alive in the next couple of years.
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  #826  
Old Posted Nov 6, 2018, 6:06 PM
Crawford Crawford is offline
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30 Montgomery will eventually get redeveloped into a higher-density tower. It will just take time, and further maturation of the JC office market.
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  #827  
Old Posted Nov 6, 2018, 6:26 PM
citybooster citybooster is offline
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30 Montgomery will eventually get redeveloped into a higher-density tower. It will just take time, and further maturation of the JC office market.
I would definitely agree with that. ten years or so from now would probably be a lot riper for office development than now, and they just did a smart thing having the current building upgraded and refreshed in the interim.
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  #828  
Old Posted Nov 10, 2018, 7:14 AM
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chris08876 chris08876 is offline
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Construction Update: 485 Marin (ready to open)


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