BLDG Management has plans for Jersey City that stand to break records.
Lloyd Goldman’s firm announced plans for a 1,300-unit complex at 100 Bay Street in the New Jersey municipality. NJBIZ reported. The project is expected to span 1.6 million square feet and replace a lot that’s been vacant for nearly two decades.
The full-block site, also known as 111 First Street, began as the site for P. Lorillard Tobacco Company’s warehouse after the conclusion of the Civil War. That factory shut down in 1956 and the site ultimately became an artist community before its demolition, according to JerseyDigs.
The height is the most jaw-dropping element of the proposal. Plans call for two towers rising from a single podium base. One would be 40 stories tall, while the other would be a whopping 90 stories tall; a 40th-floor sky bridge would connect the two.
In total, the development would check in at 1,055 feet tall. That would represent the fourth-tallest residential column in both the region and the entire country, according to BLDG, not to mention the tallest in Jersey City.
Pelli Clarke & Partners is designing the project, which would include 20 percent of units set aside for affordable housing. There will also be 29,000 square feet of amenities and ground-floor retail space.
The project is also expected to provide “abundant” parking options to residents, according to the developer. Just in case those spaces aren’t plentiful enough, there will be three PATH stations, one ferry depot and two Light Rail stops, all less than a mile away.
BLDG has yet to submit an application to Jersey City, meaning the Planning Board still needs to approve the proposal before construction commences.
Should the project come to fruition, BLDG will have plenty of skyline-shaping company in Jersey City’s multifamily market.
A joint venture of SJP Properties, Claremont Development and Battery Global Advisors is developing The Lucy at 619 Grove Street, a 23-story, 444-unit project.
The Namdar Group’s projects at 29 Van Reipen Avenue and 612 Pavonia Avenue in Jersey City are expected to deliver more than 1,100 units to the Journal Square neighborhood.
And Blackstone Real Estate Debt Strategies provided a $515 million loan for Kushner Companies’ One Journal Square, which opened to residents several months ago and spans 2 million square feet across two 52-story towers, containing 1,723 units.
— Holden Walter-Warner
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