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500 Summit Avenue in the SkyscraperPage Database

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  #1  
Old Posted Mar 26, 2014, 2:37 PM
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JERSEY CITY | 500 Summit Ave, Journal Square | FT | 42 FLOORS

And another one for Journal Square, Jersey City!!!

http://stream.wsj.com/story/latest-h...9/SS-2-491490/

Quote:
A New York developer is in contract to buy a site in the heart of Jersey City’s Journal Square, an area the city has been targeting for development with a revamped program of tax incentives.

HAP Investments LLC was in contract to pay $28 million for 80,000 square feet at 500 Summit Ave., said Eran Polack, chief executive of HAP.

The firm has yet to work out the exact plans for the site—now partly covered by a parking lot—but Mr. Polack said it could accommodate a 42-story, 1-million-square-foot tower for rental housing.

A project that size could cost $400 million to develop. It could incorporate either a hotel or offices, with a park and about 35,000 square feet of retail space as likely elements. He declined to name the seller.

This will be the first New Jersey project for the firm, which has focused on Manhattan, Mr. Polack said. High land prices spurred HAP to look for development opportunities 35 to 40 minutes outside of Manhattan, he said. And Jersey City has been aggressive about attracting developers to Journal Square, situated close to a PATH station and bus terminal.

“Journal Square is very close to Manhattan,” Mr. Polack said. With the PATH train service, “in 15 minutes you are on 34th Street.” And, he said, “the city is very pro-development.”...
As a resident of Jersey City within walking distance of Journal Square, I would like to show my support for this development. How can I get involved?
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  #2  
Old Posted Mar 26, 2014, 3:06 PM
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Great news. Journal Square's skyline is going to be very impressive by 2020... five towers of 50+ stories, and at least another two of 40+ floors, with the tallest building standing nearly 800' -- which is above anything in LIC or BK.
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  #3  
Old Posted Mar 26, 2014, 3:46 PM
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Quote:
Mr. Polack said it could accommodate a 42-story, 1-million-square-foot tower for rental housing


That's a lot of square feet.
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  #4  
Old Posted Mar 26, 2014, 6:47 PM
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http://www.rew-online.com/2014/03/26...opment-action/

According to the Wall Street Journal, the New York based investment and development company paid $28 million for the site, currently occupied by a parking lot.

The proposed tower, to be known as HAP Tower, will have views of Manhattan from a majority of the floors. The site can accommodate a 42-story rental building with commercial office and community facility space. The anticipated cost of the one million square foot development is estimated to be $400 million, according to HAP..

Further details of development plans have not yet been announced, but Jersey City Mayor Steven M. Fulop is delighted nonetheless.

“Our administration has made the redevelopment of Journal Square a priority and we are pleased to welcome this 42-story residential tower to the substantial projects just underway on the Square,” said the Mayor. “HAP Investments’ announcement is further affirmation that our policies are working to attract such significant development.”

The City has approved an ambitious redevelopment plan for the area long considered the poor relation of its glitzier downtown, where luxury towers and office buildings hug the Gold Coast and drive a micro-economy of gourmet markets, daycare and restaurants and big names such as Trump, LeFrak and Mack-Cali have driven a development boom.

Journal Square 2060 sets out a 50-year schedule of new building as the area plays catch-up to its downtown. The plan calls for buildings concentrated around the PATH Station reaching heights over 60 stories.

Early investors include Kushner Real Estate, which is planning three towers set as high as 85-stories on a site within the PATH Plaza that will include open space, a dog run, new restaurants and retail.
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  #5  
Old Posted Mar 26, 2014, 6:47 PM
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Mayor Fulop is the man!
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  #6  
Old Posted Aug 1, 2014, 6:34 PM
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Revealed: 500 Summit Avenue


500 Summit Avenue, rendering via HAP


Quote:
As depicted, the building would be glassy and L-shaped, with one textured side and the rest smooth. The park also makes an appearance in one of the renderings, suggesting that HAP is planning on working within the already-entitled zoning limits – an entitlement that the previous owner had to sue the city to get, and which at least one local council member is none too pleased about (“Over my dead body they’ll put a 42-story tower there,” Journal Square councilman Rich Boggiano told the Journal).

Under Mayor Steve Fulop, however, Jersey City has been more accommodating to builders. He recently cheered on a 95-story waterfront tower proposal, and has offered tax breaks to developers who would venture beyond the riverfront – where most of the development action is – and build inland, in the Journal Square area. (In this respect, the development pattern in Jersey City resembles that of Long Island City, where the waterfront area was developed before builders began seeking sites further inland, around Court Square.) While much of the neighborhood is built-out with row homes and tenements, the downtown area still has a number of surface lots that will be ripe for redevelopment in the years to come.

HAP’s site has excellent access to mass transit, located right next to the Journal Square PATH station. The ride to Herald Square takes 27 minutes during the week, while the World Trade Center is just 14 minutes away.
===================================
http://www.yimbynews.com/2014/08/rev...t-avenue.html#
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  #7  
Old Posted Aug 2, 2014, 2:11 AM
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Sweet!

Bring it on. I have several skyline pics near this site that I need to upload. There are many cranes in the Jersey City sky, rising above the slender concrete frames of what will be new residential buildings, against the backdrop of Manhattan's office supertalls. The views will be impressive from 40 floors up, and it's not even 15 minute journey from Journal Square to the WTC. Journal Square will boom!

I'm so impressed with Steve Fulop. Keep up the good work and maybe even bring a supertall to Jersey City! The tallest Journal Squared development comes close...
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  #8  
Old Posted Dec 1, 2014, 4:18 PM
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New Look: HAP Tower, 500 Summit Avenue





Quote:
Now, we have a look at another possible scheme for the site, created by CetraRuddy, the firm also responsible for the first iteration. The new design is significantly taller, standing well over 50 stories, and could indicate the site may be geared towards condominiums rather than rental units.

HAP’s speciality is typically condominiums, which would explain the possible design change as well. Views are the driving factor behind New York City’s new skyscraper boom, and the same could be said for what’s rising across the Hudson River. In 500 Summit Avenue’s case, the project will overlook the entire Manhattan skyline, and the best way to take advantage of that is to make HAP Tower even taller.

Similar developments are underway or in the planning stages across Journal Square. Ground has already been broken at JSquared, which will eventually host three towers of 50 floors or greater, and another twin-towered project of similar heights is in the works nearby, tentatively dubbed City Center Towers. With Kushner Companies set to build another 40-story high-rise on the site of the old Jersey Journal building at 30 Journal Square, the neighborhood’s skyline is just a few years away from a very rapid evolution.

[...]
==============================
http://www.yimbynews.com/2014/12/per...s-kitchen.html
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  #9  
Old Posted Dec 1, 2014, 5:10 PM
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WHAT! omg Journal Square dude.
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  #10  
Old Posted Dec 1, 2014, 6:35 PM
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I count 60+ floors.
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  #11  
Old Posted Dec 1, 2014, 7:00 PM
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Quote:
Originally Posted by scalziand View Post
I count 60+ floors.
Bumhahahahhahaha!!

Boom!

This is an early Christmas present to Jersey City residents!
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  #12  
Old Posted Feb 26, 2015, 12:48 AM
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They might have the legal right to build 42, but heavy NIMBY opposition from this one. There was discussions about adding 17 floors for a park, so I wonder if this one is proposed at 59. There is zero chance they will get that due to the galvanized NIMBYs.

Last edited by CIA; Feb 26, 2015 at 3:10 AM.
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  #13  
Old Posted Feb 26, 2015, 9:03 AM
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Otoh, proposing 59 and then giving in to the nimbys and do 42 means itäd be a 42 floor tower after caving to the nimbys. Not a bad result.
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  #14  
Old Posted Feb 26, 2015, 9:49 PM
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The redevelopment plans and board meeting agendas I sifted through seem to have limited it to 42. It's sort of on the outskirts of the "No limit" area at the center of Journal Square so they had to taper it a little.
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  #15  
Old Posted Feb 26, 2015, 9:51 PM
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^ I agree, but I can't explain this new rendering, which looks about 60.



They have had legal right to develop to 42 floors for the last couple of years.
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  #16  
Old Posted Feb 26, 2015, 10:03 PM
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Did a little digging...

Quote:
2.3. Zone 11 Criteria: As further represented on Exhibit B, the easterly portion
of new Zone 11 witf incorporate existing Zone 4 "Neighborhood Mixed Use" zoning criteria, including a maximum height limitation of six (6) stories. However/ the rear yard setbacks between new Zone 11 and Zones 6 and 9 shall.be reduced to ten (10) feet for parking garages only. The parking garage portion of any building located in this reduced setback area will be limited to a maximum height of five (5) stories. The westerly portion of new Zone 11 will incorporate existing Zone 3 "Commercial Center" zoning criteria/ but the maximum height limitation of twenty-five (25) stories shall be increased by seventeen (17) stories for a total of forty-two (42) stories/ to reflect a bonus for dedicating the park land.
There isn't a height limit in feet but instead a hard cap on the number of floors. It still doesn't explain why the developers produced a new rendering, which appears to be 60 floors. Anyone have insight?
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  #17  
Old Posted Jun 22, 2015, 1:35 PM
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If you have 30 minutes to waste.

https://www.youtube.com/watch?v=YYvbca9Riqk
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  #18  
Old Posted Jun 22, 2015, 9:13 PM
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Quote:
Originally Posted by CIA View Post
If you have 30 minutes to waste.

https://www.youtube.com/watch?v=YYvbca9Riqk
30 minutes of hearing middle aged and Cialis popping NIMBYS talking about the horrors of a great tower....

This is vile NIMBY propaganda. Un-American! These people look like the ghouls from Fallout 3 btw.

It was kinda interesting to see the face of the developer defending the tower. The face that one only has when dealing with the idiotic arguments of NIMBYS. Happen to fast forward to that point.
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Old Posted Jun 23, 2015, 3:21 AM
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Does this tower stand a chance because of the less than supportive signals being given by the Fulop Administration? The NIMBYs can go to you know where for all I care, this would be the best spot in the whole Journal Square area for a tower like this. Besides, the area is only going to have a certain number of high rises.... any idea how much land will be allowed to have high rises of 500 ft or more? I know the Baldwin project has two 25 story towers and that is allowed under the Journal Square area building plan... this one happened to get a variance from the 25 story limit just outside the more height generous area right on the Square. You're not going to get more than a few really tall buildings so for the most part all this NIMBY hysteria is nothing but "sky is falling" nonsense.
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Old Posted Jun 23, 2015, 6:34 AM
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Originally Posted by citybooster View Post
Does this tower stand a chance because of the less than supportive signals being given by the Fulop Administration? The NIMBYs can go to you know where for all I care, this would be the best spot in the whole Journal Square area for a tower like this. Besides, the area is only going to have a certain number of high rises.... any idea how much land will be allowed to have high rises of 500 ft or more? I know the Baldwin project has two 25 story towers and that is allowed under the Journal Square area building plan... this one happened to get a variance from the 25 story limit just outside the more height generous area right on the Square. You're not going to get more than a few really tall buildings so for the most part all this NIMBY hysteria is nothing but "sky is falling" nonsense.
500 Summit is one very odd development. The land is already zoned and approved for a 42 story building, but the NIMBYs are being galvanized by evil forces and are led to believe they can force the city to rescind the approval. Obviously that's not happening because it would be illegal and the city would be sued in court for millions. It would be very cool to get an even taller tower, but I doubt HAP will be able to pull it off unless there is some serious horsetrading going on behind the scenes.

The city is very accommodation to new development and there is a growing number of residents showing up at planning board meetings. Public support for a development project makes a world of difference, and I encourage everyone in Jersey City interested in a particular development to show up at the meetings and speak your mind. I can honestly say that if a few folks had spoke up at the 99 Hudson meeting to express their support for a tower exceeding 990ft, it would have happened. There was no opposition to this project! (At the end of the day, it was not the height limiting this tower but the allowable density. It was at the limit of 1.3 million square feet of development. I wish we had folks to also speak up in support of greatly increasing the FAR limit.)

There is a lot of residential supply coming on the market in the new few years. If it's all absorbed as planned, the next generation of developments could even be more bold.

We should organize and start causing a ruckus at city hall. I'm tired of obnoxious, xenophobic old folks pretending to be the voice of the community.
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