^ Excellent.
101 Newkirk
News on everyone's favorite "I'll believe it when I see it" project. New details revealed today from the Jersey City Redevelopment Agency that this will contain both rental and condo units. I believe it's 35 rental floors and 10 condo floors. The height is still 50 storys. I hope they do taller with more condo units because more homeownership opportunities is absolutely vital to this area of the city.
This is also moving at a decent clip through the process. I would not be surprised to see this one break ground by the end of 2017. They still need an amendment to the Journal Square plan and site approval, but in my experience that can happen very quickly in Jersey City.
A parking garage will be built next door to this tower which will not only provide parking for residents but also spaces for a neighboring municipal justice center, which recently received negative press about the lack of parking for city employees and a controversial parking lease agreement with at a neighboring lot. The city may have have a vested interest in seeing this tower and the garage built sooner rather than later.
808 Pavoina - Arts District behind Lowes
Now that city approvals are in place, there is behind the scenes negotiating going on regarding the final product. Hartz Mountain sounded very timid on their development plans in a Jersey Journal article from earlier this year, so I hope the city insists on something big to help in the continued revitalization of the area. Hartz Mountain has a tendency to sell properties once they get zoning approval. If Journal Squared 1 is a big success, I would not be surprised to see Jonathan Kushner from KRE group pick this up for future development. I have no inside information, and just speculating but I have a good track record on predicting this kinda stuff, including the sale of
26 Journal Square to Jared Kushner as part of an expanded 30 Journal Square
eight months before it happened.