Jersey City leading state in new housing projects

2014-12-04_12-57-39via Joshua Burd/ NJ Biz

Jersey City continues to lead the state for new housing starts, thanks largely to the rapid pace of multifamily construction along the Hudson waterfront and other neighborhoods.

That’s according to newly released data from the U.S. Census Bureau, city officials announced. From January through October, the city had issued permits for 1,286 new units, with more than 1,100 of them coming as part of multifamily projects.

More than 6,000 residential units are currently under construction in the Journal Square section and downtown, the announcement said, with another 18,000 units having been approved.

“We are pleased that Jersey City continues to lead the state in new housing starts, helping to boost the economic recovery and the housing market,” Mayor Steven Fulop said in a prepared statement. “Jersey City continues to be a magnet for investment and as we work to develop more areas of our city — including Journal Square and Bergen Lafayette — our goal is to continue to lead the state in construction.”

Fulop attributed the pace to moves such as the adoption of a tax abatement policy with a tiered structure to encourage development off the waterfront.

The Census Bureau also reported an 18 percent increase in building permits for the state, with more than 60 percent of them being issued for multifamily projects.



Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s