Tuesday, January 20, 2015

950-ft Tower Planned for Jersey City Will Be Tallest Bldg in N.J.

Manhattan will soon have a very tall neighbor across the Hudson River in New Jersey. A Chinese developer is planning to build a 95-story condominium tower on a parking lot at 99 Hudson Street on the Jersey City waterfront.  The 950-foot skyscraper will soar past the Goldman Sachs tower, located just two blocks to the south, and become the tallest building in New Jersey. The 760-unit residential building will also include an affordable-housing component. The new tower will begin going up this spring and could take as little as two years to complete.

China Overseas America is preparing to build 760 condominium apartments and about 18,000 square feet of commercial and retail space, plus a 7,000-square-foot park at 99 Hudson Street.

The company had originally received approval to build two towers of about 40 stories each, but now plans to build a single 95-story tower. The developer waned to build something architecturally significant — a taller, slimmer building that will be iconic for the skyline. The new skyscraper would rise 950 feet.

Construction is expected to begin late this spring, once it receives the expected approvals from the city's planning board and council.

The building is the first major Chinese-backed development in Jersey City. However, China Construction America, which is based in Jersey City and is a sister company of China Overseas America, has a multimillion-dollar contract to rebuild parts of the 82-year-old Pulaski Skyway.

Jersey City is already home to some of the tallest buildings in the state, including the Goldman Sachs tower at 30 Hudson Street, at 781 feet; 101 Hudson Street, 548 feet; and Trump Plaza, currently the state’s tallest residential building at 532 feet.

The mayor called the proposed tower "a milestone moment for Jersey City."

 The project shows how Jersey City has become a refuge and market of choice for a mix of empty-nesters and buyers priced out of Manhattan. The plan, calling for condos ranging from one to three bedrooms, shows that the city is attracting more families and others who want to buy homes and remain there.

“This building will literally have the best view in the world,” Fulop said. “It’s going to have panoramic views of the Statue of Liberty, Ellis Island and the New York City skyline.”

Condominium towers targeting wealthy buyers have been rising across the Hudson River in Manhattan, as apartment prices have climbed to their highest since their 2008 peak.

One of them, 432 Park Avenue, will be 1,397 feet tall upon completion, taller than the Empire State Building.

High-rise towers are also going up across the East River in Brooklyn and the Long Island City section of Queens.

"Our plan here is to continue building a world-class skyline," he said. "We couldn't be more excited to attract hundreds of millions of dollars of investment into the city."

Jersey City is in the middle of a building boom, with about 6,000 residential units under construction, and 18,000 more already approved.

As new projects have opened, the population has grown, showing people are being attracted from outside the city limits.  Jersey City is likely to pass Newark to become the state’s most populous city by 2016.

Visit Our Sponsors

Page Views

Since October 1, 2011