For Young Families Priced Out Of The Five Boroughs, Jersey City Is The Place To Be

via CBS New York

CBS JCJERSEY CITY, N.J. — If you’ve been priced out of the Five Boroughs you won’t have to go far to find the Tri-State area’s newest up-and-coming neighborhood.

Some parts of Jersey City are plagued by crime but other sections are being built up and have been attracting New Yorkers who have been priced out of Brooklyn.

“You can get a lot for your money in terms of real estate and I think for us as young parents it is a wonderful place to be,” Marni Schapiro told CBS 2′s Christine Sloan.

The Schapiro’s four-story brownstone was a steal that they found in foreclosure at just over $600,000 and their children have their choice of private schools.

“Jersey City is big. There are still some neighborhoods that aren’t as safe but we have a wonderfully safe neighborhood,” she said.

The average price of a home in Williamsburg is $700,000, in Bushwick more than $445,000, in Hoboken it’s around $600-thousand, but in Jersey City the average is $287,000.

The mayor of Jersey City has recently launched a campaign to get people to cross the river and check out his city.

“We are going to start marketing Jersey City as a destination point. There is always a stigma attached to it and we never got the credit we deserved,’ said Mayor Steven Fulop.

Some residents still remember when many buildings in the city were run down.

“Now it is a multi-cultural place. You name it, you see it and we’re all getting along together,” said Howard Wilson.

The neighborhood renaissance has taken decades and residents expect it to spread to other parts of the city that are still plagued by crime.

The Jersey City Planning Authority expects 30-thousand additional residents by 2020.


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