Wednesday, February 3, 2016

Construction to Begin on New Jersey’s Tallest Tower

Currently, 99 Hudson Street is a parking lot on the Jersey City waterfront, dwarfed by skyscrapers on two sides. In about two years, the parking lot will be replaced by a 900-foot skyscraper that will tower over every building nearby. 

The 79-story tower, to be located at Greene and Grand streets on the Jersey City Waterfront, will be the tallest building the state and one of the tallest residential towers in the nation.

The state's current tallest building is the nearby Goldman Sachs tower at 30 Hudson Street, which rises 781 feet and 42 stories.

The 99 Hudson Street project will help create a skyline to rival the one across the Hudson River in Manhattan.

"This building will literally have the best views in the world," said Cindy Xiu, president of China Overseas America, which is behind the $500 million-plus tower, which is expected to be completed in 2018.

The new limestone tower, designed by Perkins Eastman Architects, will house 781 condos, at least 15,000 square feet of commercial space and 609 parking spaces. The project will receive no tax abatements from the city.

99 Hudson Street will be located just two blocks from the Exchange Place PATH station, the Hudson-Bergen Light Rail station, and the ferry terminal, offering residents short a 5-10 minute commute to Lower Manhattan.

Hartz Mountain Industries originally planned to develop two towers on the site, but sold the parcel to China Overseas America in 2014.

Mayor Steve Fulop said China Overseas' investment, especially for a condominium project, is a significant sign of optimism about Jersey City and yet more proof that this is a "global city."

Once completed, 99 Hudson will give city residents a sense of pride. "It's going to remake the New Jersey skyline and the Jersey City skyline with a new, iconic building," said Mayor Fulop.

If built today, 99 Hudson would be the sixth tallest residential/mixed-use building in the nation, according to the Council on Tall Buildings and Urban Habitat, the group considered the international arbiter of skyscrapers. 99 Hudson would edge out 900 North Michigan Avenue, an office/residential tower in Chicago that tops out at 869 feet.

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