JERSEY CITY | Harborside 4 | ? FT | 60 FLOORS

[C.]

https://commercialobserver.com/2023/...ifamily-debut/

Related President Bruce Beal said that his firm plans to build a mixed-use residential tower up to 60 stories, as city zoning amendments allow for that height as of right, and that the final unit count would be roughly 750 apartments, with rentals at the lower floors and for-sale units likely at the top. A retail component with a combination of restaurants, food and beverage, parking and retail is also planned for the base of the building, he said.

“Jersey City is a market that continues to grow, and if you’re looking out the window here at Hudson Yards, it’s hard to not be connected to Jersey City,” Beal said. “This transaction will hopefully be one of many.”

Beal expects the developers to seek a $350 million to $400 million construction loan to get to work on the project, expected to start next fall or before the end of 2024.

“We’ll go to our stable of construction lenders,” he said. “We’ll capitalize with one of our joint-venture equity partners and with Related’s equity and Panepinto.”

Both Related principals praised the cooperation of Jersey City Mayor Steven Fulop, the Jersey City Council, and the Jersey City Planning Board, who they said helped streamline the project through various bureaucratic hurdles.

“At times people complain about challenging processes or administrations that don’t want things to grow, but the leaders and political environment over there have created a platform to invest in the area,” said Beal. “They’ve done a very good job of proactive planning development there, and it’s clearly working.” ...

“I think this is the last and best waterfront site that can be developed for residential purposes down here,” he said. “It will probably be over 60 stories, and I think this will be very successful.”

[NYguy]

Both Related principals praised the cooperation of Jersey City Mayor Steven Fulop, the Jersey City Council, and the Jersey City Planning Board, who they said helped streamline the project through various bureaucratic hurdles.

Things happen when people get out of the way.

[chris08876]

Equinox is Coming to Jersey City, Hoboken Plans TBD

On August 28th, a source close to the Harborside 4 project shared exclusively with The Hoboken Girl that Equinox will be located in the new Harborside 4 complex, located at 20 Columbus Drive in downtown Jersey City. Harborside 4 is a new high-rise residential project that will have over 12,000-square-feet of retail space as well as 800 residential units, per Jersey Digs. While the exact location of Equinox in this complex is not disclosed at this time, the fitness chain will be one of the retail tenants.

As for the potential Hoboken location, on March 26th, HG received a tip from a reader: “There’s buzz that an Equinox is coming to Hoboken!”

Accordingly, the reader heard rumors from two separate Equinox employees on two separate occasions. One employee’s confirmation could only go as far as “whispers” that “may be true,” but asked to remain anonymous to avoid issues. We have since heard from several sources that Equinox is indeed coming to Hoboken, but again, all alleged until confirmed.

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https://www.hobokengirl.com/equinox-jersey-city-nj/