JERSEY CITY | 41 and 52 Aetna Street | FT | FLOORS

[C.]

Argent Ventures, LLC to make a presentation for the construction of
a multi phased development on 41 and 52 Aetna Street located
within the Grand Jersey Redevelopment Area.The development will
include significant infrastructure improvements and the construction
of two high rise residential buildings with structured parking.

It's a very unusual site, surrounded by the 2,150+ unit Crescent Park and west of the 6,680+ unit Liberty Harbor North Tidal Basin.

Details will be know tomorrow, but is anyone willing to guess on how tall the "two high rise residential buildings" will be?

[Crawford]

Hopefully we'll get some real height here.

I would hope we get something that really contributes to the skyline; say two 50+ floor towers.

But really anything built here will be a plus for the area.

[C.]

Originally Posted by Crawford

Hopefully we'll get some real height here.

I would hope we get something that really contributes to the skyline; say two 50+ floor towers.

But really anything built here will be a plus for the area.

It may very will be tall to accommodate the significant infrastructure improvements.

Also, I did a little background on the developer. Never heard from them before, but they're BIG private equity players. They would likely not mess around in a small-scale development.

http://argentventures.com/representative-transactions

The tallest tower at Crescent Park should be at least 60 floors in height, so 50 here is a definite possibility.

[Hamilton]

Thanks CIA!

Where did you get that notice? Where/when is the presentation being held?

[C.]

I cannot reveal my sources. Just kidding... JCRA and tomorrow.

[Hamilton]

Hahaha, thanks! You're an awesomely inexhaustible font of data. I love it. FYI, PATH ridership statistics are up on the PA website...

[Hamilton]

Originally Posted by CIA

Also, I did a little background on the developer. Never heard from them before, but they're BIG private equity players. They would likely not mess around in a small-scale development.

http://argentventures.com/representative-transactions

Sorry to sound pessimistic, but I'm a bit skeptical. If you look at their projects, they've only developed one ground-up building--an 8-story office tower in Paris--and that was a joint venture. Other than that, it seems like they do more paper-pushing than bricklaying. "Repositioning debt" is one thing, but it's a whole other level when you have to deal with contractors, all sorts of construction permits, engineers, unexpected geological features, architects, and investors all at once.

Is there a chance for public comment at JCRA meetings? If so, it would be great if somebody who's going could ask them about how their development experience qualifies them for a project of this magnitude, and about how far along they are on bringing in partners for a joint venture...

They'll probably need to get a real developer on board with serious ground-up construction experience to realize this project.

[C.]

Originally Posted by Hamilton

Sorry to sound pessimistic, but I'm a bit skeptical. If you look at their projects, they've only developed one ground-up building--an 8-story office tower in Paris--and that was a joint venture. Other than that, it seems like they do more paper-pushing than bricklaying. "Repositioning debt" is one thing, but it's a whole other level when you have to deal with contractors, all sorts of construction permits, unexpected geological features, architects, and investors all at once.

Is there a chance for public comment at JCRA meetings? If so, it would be great if somebody who's going could ask them about how their development experience qualifies them for a project of this magnitude, and about how far along they are on bringing in partners for a joint venture...

They'll probably need to get a real developer on board with serious ground-up construction experience to realize this.

It went through an open and competitive RFP and I have absolute confidence in the JCRA doing the right thing fot Jersey City. There is always a possibility of Ventura joint developing with another developer. Ventura will likley provide the financing, which is getting harder to come by these days.

I view them as an ally in Jersey City's renaissance unless they show themselves to be otherwise. The JCRA meetings are open to the public and the public can comment.

[C.]

Originally Posted by Hamilton

Hahaha, thanks! You're an awesomely inexhaustible font of data. I love it. FYI, PATH ridership statistics are up on the PA website...

Lol. Already posted the results for February. I'm a bit OCD with these, but I find it fascinating how all this new development is pushing PATH to the limits and forcing the Port Authority to pay attention and upgrade the system.

[Hamilton]

Did you make it to the JCRA hearing yesterday? Any updates?

[C.]

Originally Posted by Hamilton

Did you make it to the JCRA hearing yesterday? Any updates?

No.

Had other obligations

[C.]

Sorry everyone. This one is a dud.

Tower 1: 300 units
Tower 2: 75 units

The tallest would be at most 30 floors. Zzzz

[citybooster]

Originally Posted by CIA

Sorry everyone. This one is a dud.

Tower 1: 300 units
Tower 2: 75 units

The tallest would be at most 30 floors. Zzzz

A bit disappointing(okay, REALLY disappointing) but still good infill... not everything has to rise high to be commendable, and 30 or so stories in that area is a nice size. But yeah, dwarves the other two mega developments. Like I said though, it will make for solid infill.

[Oron Zchut]

I'm really bringing up an old thread here, but there is a lot of work ongoing on this site (or the Crescent Park site). I believe it's just infrastructure and may be unrelated to the actual project. But here it is