[C.]

Journal Square Updates:

Journal Square plaza is undergoing a number of cosmetic upgrades. New glass railings are being installed replacing the wood ones, new fencing around grassy areas, and the ceiling on the concourse level is being replaced.

Deli Plus on the concourse level, the great little bodega\pizzeria is being renovated. I went in to buy my favorite bottle of cheap wine to find out that 3/4th of the place had been cordoned off renovations. The wine rack was gone and had been placed with top shelf spirits and fine wine. They're probably positioning themselves to be the main market for residents of the new Journal Squared tower when it opens. It's a smart move to do this now.

There is a lonely backhoe on the 1 JSQ site. Not getting too excited as they still have a number of permits to pull, so my guess would be Spring '17 at the earliest before we see any real construction.

I have a great track record on these types of things, but I'm thinking one of the Kushner families will acquire the new Arts District lands from Hartz Mountain, next to the Lowe's Theater. The site is the only one in the New York metro area that has no height limit and unlimited density bonus potential. Hartz is too conservative of a developer while Jared Kushner is one of the boldest in the business when it comes to big projects.

PATH trains are really starting to burst at the seams during rush hour. I was shocked to see a Newark bound train unable to take additional passengers and left a bunch of people at the platform at Journal Square. All those smaller developments in Harrison and Newark are really starting to impact and put strains on the system. The Port Authority will be forced to add capacity soon, especially with Journal Squared and 3 JSQ opening. Those two developments have the potential to add nearly 2,000 daily trips to the system.