Jersey City, NJ Mayor Steven Fulop and fellow municipal officials joined principals of Halpern Real Estate Ventures (HREV) on Monday, November 1st, 2021 to break ground on a major new addition to the City’s reenergized West Side neighborhood.
Sitework is officially underway at 49 Fisk Street where a new six-story luxury rental building, featuring 337 studio-to-two-bedroom residences and nearly 50,000 square feet of modern indoor and outdoor amenities, will soon rise near the banks of the Hackensack River. Designed by renowned Minno & Wasko Architects and Planners, with interiors and amenities curated by The Meshberg Group, the new building will deliver a sought-after live/work/play environment that promotes a healthy, balanced lifestyle for a post-COVID-19 world.
HREV expects to complete construction in the fourth quarter of 2023 and has retained The Corcoran Group as exclusive marketing and leasing agent.
“The West Side of Jersey City has seen unprecedented transformation in a positive way over the last eight years.” Mayor Fulop said at the groundbreaking. “We’ve seen significant investment in NJCU, in the Bayfront, and 49 Fisk Street is another step in that journey. For decades, the city struggled to get any sort of investment on the West Side, so today is symbolic in a meaningful way and sends a strong message about where the priorities are for Jersey City in making the West Side for everyone. Congratulations to the development team and I look forward to being back here in two years for the ribbon cutting.”
49 Fisk Street is being developed by Halpern Real Estate Ventures, a best-in-class, national developer with an emphasis on major metropolitan centers and urban lifestyle cores in the Northeast and Colorado Front Range.
“Jersey City is a national success story, and Mayor Fulop has done a remarkable job spearheading investment and focus west of the waterfront which has led to improved infrastructure and the infusion of new residential, retail and lifestyle options across the city,” said Joel Halpern, Managing Director of Investments for HREV. “This is certainly the case for the West Side, and we’re excited to contribute to the growth and vitality of this emerging neighborhood.”
Designed for a Post-Covid World
49 Fisk Street features a Class A amenity program and building design that emphasizes innovation and sustainability, with key focuses on resident health & wellness and the potential for extended hybrid work models. The building will offer efficient private and public co-working spaces and a variety of resident outdoor space, including a 14,000+ square-foot landscaped courtyard with green space, an 18,000+ square-foot rooftop with a 360-degree view, and a community garden.
A hotel-like lobby with an interconnected stair to the second floor will provide an open and welcoming entrance for residents and their guests. Additional amenities will include social spaces and conveniences such as a speakeasy-style bar, fitness center, and onsite, covered parking.
Sustainable features will include a waste diversion and energy recovery system, rooftop solar panels, electric vehicle chargers, and rainwater collection for irrigation uses.
A Neighborhood on The Rise
Situated just west of Downtown Jersey City, 49 Fisk Street is rising in an area that is experiencing a wave of new investment and interest, including New Jersey City University’s (NJCU) planned 22-acre University Place expansion project that will include a Performing Arts Center, and the 95-acre Bayfront redevelopment. A complement of existing and new dining, recreation and nightlife options also dot the neighborhood, including popular eateries such as Blend Café, Jersey and Co. Gelato, Treehouse Coffee, and many others.
The 273-acre Lincoln Park is also nearby, offering access to twenty-one public tennis courts, three playgrounds, a dog run, nature trails, several sports fields, and Skyway Golf Course, a scenic 9-hole layout lined with colorful fescue, magnificent dunes and rolling fairways.
49 Fisk Street is located two blocks from Route 440 which will deliver residents to the New Jersey Turnpike and Routes 1 and 9, bringing businesses and popular recreational options in northern New Jersey and the famed Jersey Shore within easy reach. Downtown Jersey City and Manhattan can be easily accessed via the Hudson Bergen Light Rail Station, less than a five-minute walk from the property.
About Halpern Real Estate Ventures
HREV was founded in 2011 by a core team of experienced professionals, bringing together a substantial track record as real estate owners, institutional investors, and capital markets professionals. HREV’s Principals have 3+ decades of experience as ground-up developers and investment managers. The team has a long legacy of owning, operating, and financing properties. Since its inception, the platform has executed 16 investments, with 11 successful realizations and 5 active investments representing well over $1.5 billion of development value. More information can be found on the website: www.hreventures.com.