Developer’s key to success: Ensuring project fits in with Jersey City surroundings

via Joshua Burd/ NJ Niz

2015-07-01_11-08-29There’s no lack of appeal for the site that will be known as Hudson Exchange West, an 18-acre tract in downtown Jersey City that’s bordered by three of its most sought-after neighborhoods.

But Abe Naparstek knows that location can be a challenge as much as will be an asset.

“We’ve done a lot of interesting things around the country with how you mix uses and build a master-planned community, but make it feel like the fabric of the existing community around it,” said Naparstek, an executive with Forest City Residential. “And that’s a hard thing to do — we don’t want to just plop down a new project that isn’t integrated into the neighborhoods that surround (it).”

It’s why he feels a “fresh perspective” will be key to the success of the mixed-use plan, which calls for more than 6 million square of development over 20 years. It’s the first major redevelopment project in the state for Forest City, Naparstek said, “so we’re really trying to take the best of what we’ve learned from around the country and bring that to Jersey City.”

FULL STORY AT NJBIZ.COM

WRT Breaks Ground on Lafayette Park’s Final Phase

Steve Lubetkin at GlobeSt.com reports on the Wallace Roberts & Todd ground-breaking at Morris Canal/Lafayette Park.

2015-03-20_11-09-43Wallace Roberts & Todd has broken ground on the final phase of the award-winning Morris Canal/Lafayette Park neighborhood. The final phase, named Glennview, honors the late Mayor Glenn Cunningham and completes the WRT master plan for 500 new affordable and market rate homes.

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WRT’s urban design centers on a civic plaza—Morris Canal Walk—which is located along the historic Morris Canal. The Morris Canal Walk commemorates the neighborhood’s industrial heritage and serves as a civic plaza, bringing together all ages to enjoy the walk’s playground, community gardens, seniors’ garden and a community center which offers social, educational, and job training services.

The community’s design and access to amenities make it one of Jersey City’s choice neighborhoods and has been recognized by the National Association of Housing and Redevelopment Official for excellence in Design, by the NJ Futures Smart Growth Award, and by the City of Jersey City for the Mayor’s Green Building Award.

CONTINUE READING FULL ARTICLE

Would You Rather? Winter Real Estate Edition

Happy New Year! It’s time for our new Poll! This time JC FYI decided to play a variation on the game “Would You Rather …” by asking our readers …

Which of these nearby new projects are you most excited about? Vote Below!

 

900Monroe_Exterior_A_FINAL JPEG900 MONROE

Steps from the 9th Street Light Rail Station in Hoboken, LEED-certified 900 Monroe will blend an upscale living experience with the convenience of quick access throughout New Jersey’s Hudson River “Gold Coast,” including Hoboken’s PATH, NJ Transit and ferry terminals with service to Manhattan.

The distinctive building will feature a collection of one-, two- and three-bedroom residences with a number of designer and energy-efficient features, including sustainable bamboo flooring, oversized windows, kitchens and baths with modern low-flow fixtures, Frigidaire and Bosch Energy-Star appliances, granite countertops and modern cabinetry design; and lavish baths with recycled porcelain tile.A suite of amenities will include an attended lobby, state-of-the-art gym, outdoor pool, clubrooms and automated on-site parking.

 

Park PlacePARK + GARDEN

The new 12-story building, located at 1415 Park Avenue on the north end of Hoboken, will feature 212 rental residences, 13,000 square feet of retail space, 32,000 square feet of educational space and a six level parking garage.

Park + Garden will include a number of innovative, environmentally-sensitive features to minimize its impact on the environment. These include a vegetated terrace that will reduce storm water runoff; a CHP (combined heat and power) module that produces hot water and electricity using a single natural gas fuel source; twelve charging bays for electric cars; and spaces for more than 100 bicycles. The heating, cooling and lighting designs, in conjunction with a high-performance building envelope and the CHP module, aim to achieve a 33-percent reduction in energy usage, based on industry standard comparisons.

 

100 Avenue at Port Imperial 3rd Gloor Outdoor PlazaTHE AVENUE COLLECTION

The Avenue Collection, located in Edgewater, is a 74-unit building, including a three-bedroom, three-bath residence with a spacious outdoor balcony and dramatic views of the Manhattan skyline, two two-bedroom homes offering north-west vistas, and a unique one-bedroom-plus-den duplex residence with a private street entrance and sensational waterfront and skyline views from every room. Homes include one-, two- and three-bedroom floor-plans ranging from 1,472 to 2,188 square feet of living space.  The residences are currently priced from $1.1 million to $2 million, with immediate occupancy available.

A private suite of amenities fosters an upscale hotel-like lifestyle within the intimate setting, including Concierge services, integrated building security system, a grand salon/lobby lounge with a fireplace, a social room looking out onto New York City that includes a fireplace, TV’s, multiple gathering areas and catering kitchen; a state-of-the-art fitness center with sauna and steam showers, cardio & strength equipment and a separate Yoga room; and a conference/boardroom.  A third-floor outdoor plaza area features a convenience kitchen, open lawn and planting areas, seating areas, a fire pit, sundeck and cooling spray area.  An enclosed parking garage affords many homes with two parking spaces.

 

Jersey City Mayor Steven Fulop, KRE Group and National Real Estate Advisors Break Ground on “Journal Squared” Luxury Rental Tower

Journal Squared Groundbreaking53-Story, 538-Unit Building is First of Three Towers that will Ultimately Bring 1,838 Rental Residences to Site Adjacent to Journal Square PATH Station

JERSEY CITY, NJ – Jersey City Mayor Steven Fulop joined officials from development partners The KRE Group and National Real Estate Advisors (National) on Tuesday, Oct. 21st to officially break ground on “Journal Squared,” a three-tower, mixed-use development adjacent to the Journal Square PATH Station that is expected to fuel the revitalization of the massive transportation hub and serve as the centerpiece of a resurgent urban neighborhood.

Rising at the intersection of Pavonia and Summit Avenues, the new development will comprise 1,838 rental residences and 36,000 square feet of retail and restaurant space in 53-, 60- and 70-story towers – the latter of which will be the tallest residential building in New Jersey.  The transformative project will also include a pedestrian-friendly public plaza.  The collective elements of Journal Squared will reenergize the City’s largest transportation center and benefit current and future residents, business owners, area employees and commuters.

“This is an exciting day because this is really a game-changer for Jersey City in so many ways,” Mayor Fulop said. “This project is going to change Jersey City, and it’s certainly going to change Journal Square. When all three towers are complete, it will literally transform and recreate the entire Jersey City skyline. That is no small accomplishment and nothing short of something that the entire City should be proud of.”

Phase I of Journal Squared will be a 53-story building with 538 rental apartments that is scheduled for completion by the end of 2016.  Phase II will include 700 rental residences in a 70-story building, while Phase III will feature 600 rental homes in a 60-story building.  A total of 920 parking spaces will also be included in the development. The developers will pursue LEED certification for all three buildings.

Designed in collaboration by HWKN and Handel Architects, the new development will take full advantage of Journal Square’s extensive transportation network highlighted by covered access from the residential lobby to the entrance of the PATH Station which offers rail service to lower and midtown Manhattan, Jersey City, Hoboken and Newark.  Approximately 1,200 NJ Transit and private buses also serve the neighborhood on a daily basis, offering residents convenient access to major employment and recreation centers on both sides of the Hudson River without having to depend on their cars.

A significant community element of the project will be a new public plaza that will be built along the Magnolia Avenue entrance to the PATH station. At the heart of the plaza will be an open space courtyard lined with trees, greenery and seating to encourage pedestrian activity and social interaction. The plaza will also feature a “kiss-and-ride” cul-de-sac for safe and convenient commuter pick-up and drop-off.

“While Journal Squared was designed to meet the ever-increasing demand for a desirable urban living experience near public transportation, the broader intent is to complement the existing mass-transportation infrastructure with new residential, retail and open space to create a well-balanced destination that becomes a center point for community life,” said Murray Kushner, Chairman of The KRE Group.  “We successfully executed this formula at our Grove Pointe development across from the Grove Street PATH Station in downtown Jersey City, and believe Journal Squared will achieve similar results, but on a much larger scale.  This development will help Journal Square reach its potential as a dynamic urban neighborhood for those who choose to live, shop, dine and work here.”

Phase I of Journal Squared will feature 538 studios, one-, two- and three-bedroom rental residences with upscale finishes and appointments, and stunning views of the Hudson River, Statue of Liberty, Ellis Island and downtown Manhattan.

“We are excited to be working alongside KRE Group on this transformative new icon for Jersey City,” said Jeff Kanne, President and CEO of National Real Estate Advisors.  “We’re also proud that this new development will generate much-needed jobs for the people of New Jersey.  We believe this project will spark a renaissance in the Journal Square neighborhood similar to what downtown Jersey City has already experienced, with increased economic activity and numerous new employment opportunities benefitting not only new residents, but the community as a whole.”

The first phase will also feature more than 10,000 square feet of amenities in the building, including the entire eighth floor. An outdoor swimming pool, full-service fitness center, golf simulator and children’s playroom will be offered. A one-of-a-kind, 2,000 square-foot entertaining space will be located on the 53rd floor.

The overall development is expected to create over 700 construction jobs and approximately 20 permanent jobs.

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About Kushner Real Estate Group

Headquartered in Bridgewater, NJ, KRE Group is one of the largest privately held diversified real estate companies in New Jersey. It owns and manages more than 6,000,000 square feet of office, warehouse and retail space. It also has a multi-family portfolio which exceeds 9,000 existing apartments, with an additional 7,000 in various stages of approval and construction. For more information, visit the company’s website at www.thekregroup.com.

About National Real Estate Advisors

National Real Estate Advisors has $2 billion+ in assets under management for pension plan sponsors, investing in major U.S. urban markets using a build-to-core strategy. The company undertakes large-scale development and redevelopment projects in its open-end fund and separate account, building investment portfolios of stabilized modern property assets—apartment, office, mixed-use, industrial, data centers and hotels—with design features, technological enhancements, and amenities that can drive high tenant demand and create value over time. An SEC registered advisor, the firm is a subsidiary of the National Electrical Benefit Fund, a $12 billion pension plan sponsor.  For more information visit, www.natadvisors.com.

Jersey City’s Housing Boom Expands


WSJ Logo
via Roland Li/ The Wall Street Journal

Jersey City’s residential construction boom is spreading beyond its waterfront area to neighborhoods farther inland where planners and developers have long dreamed about building with little to show for it until now.

2014-09-22_11-06-53In August, for example, Kushner Real Estate Group and National Realty Advisors broke ground on the first of three planned towers at a giant development in Journal Square, known as Journal Squared, which will have a total of 1,840 units and 36,000 square feet of retail. Builders are currently excavating and underpinning the project’s foundation.

“We really believe in the market,” said Jonathan Kushner, president of Kushner Real Estate Group, citing Jersey City’s transit options and growing night life.

Also in the Journal Square area, renters will soon start moving into Kennedy Lofts, a converted office building. There is already a waiting list forming for the units—which run from $1,500 a month for a studio to $2,100 for a two-bedroom, says Heriberto Camacho, with Keller Williams City Life Realty.

Other Journal Square projects are close to moving forward. A venture of developer Kenneth Pasternak and Kushner Cos.—a different branch of the Kushner family—are planning to convert the building that used to house the Jersey Journal, into a mixed-use project including rental apartments.

That same group also is purchasing a huge site across the street from the Journal building. It is approved for a tower that could soar 60 stories.

FULL ARTICLE

Out & About: Summer Highlighted Elegant Homes and Vibrant Lifestyle at The M at Englewood South in Bergen County

Pool ShotReal Estate News – There’s certainly no shortage of new residential developments on tap right here in Jersey City. However, many other FYI partner cities also have exciting projects underway.  Here’s a look at a new condo building in Bergen County …

Prospective homebuyers rushed to visit The M at Englewood South during the summer season when they received a comprehensive look at the overall lifestyle at the upscale Bergen County condominium community.

It starts in the fully furnished model homes that accurately demonstrate the elegance, comfort and appeal of the community’s one-and two-bedroom designs.  It extends to the world-class recreation facilities, including the sparkling outdoor pool and sun deck, two of the most popular amenities at The M where residents come to gather and socialize under sunny skies.

The exclusive experience was valuable insight into the tremendous homeownership opportunities at The M at Englewood South, where luxurious condominiums are priced from just $298,000.  It resulted in ten upscale condominiums purchased at the community during the summer months.

“We have a young and vibrant community and its lively environment was on full display during the summer months,” says Nick Hollenbeck, Sales Manager for The Marketing Directors, the exclusive sales and marketing agent at The M.   “After getting a glimpse of the building and homes, visitors were provided a first-hand look at the festive atmosphere around the pool and the close-knit neighborhood that has made The M one of the most popular neighborhoods for first-time homebuyers.  It’s easy for them to envision themselves living here and has prompted many to move forward with their decision to purchase.”

M_englewood_0058-Edit-smallThe M’s attractive pricing has drawn many young couples and single-professionals to the community.   These buyers — who are increasingly focused on receiving the most bang for their hard-earned buck — are also discovering special buyer incentives now available, which provide a level of value that is not often found in today’s demanding real estate market.  For a limited time, homebuyers can receive $7,500 off one-bedroom homes and $15,000 off two-bedroom condominiums at The M.

“Today’s buyer wants to be confident in their purchase and ensured they are receiving of the best value in their new home,” says Ron Orgel, a representative of Flatrock 3, LLC, sponsor of The M at Englewood South.   “At The M, we’re able to offer brand new condominiums with expansive floorplans and upscale finishes at competitive prices that are well within the budget of first-time buyers.  The special incentives combined with the now available 90% finance package, make purchasing and living at The M a compelling opportunity that has clearly gained traction with purchasers.”

In addition to the outdoor pool, an on-site resident’s clubroom with catering kitchen for large parties and entertaining bolsters the desirable lifestyle at The M.  Residents also receive a one year membership to The Gym, a 40,000 SF state-of-the-art fitness center located at 20 Nordhoff Place.

The M boasts a collection of inspiring single-level floor plans adorned with elegant designer finishes and appointments.  The expansive layouts range from 797 to 1,499 square feet of living space and feature open layouts, sumptuous bedrooms, state-of-the-art kitchens with maple cabinetry, under-counter lighting and granite countertops, large laundry areas with side-by-side General Electric washers and dryers, large walk-in closets and additional powder rooms in most homes.

Lavish master bathrooms boast granite countertops and double-sink vanities.  There’s also oak hardwood flooring throughout the living area and ceramic tile flooring in the entry hall and kitchen.

Homes are available for Immediate Occupancy.

Located at 104 Riverview Avenue, The M offers residents a best-of-both-worlds setting that blends key suburban conveniences with sought after urban appeal.  Englewood’s dynamic downtown features an eclectic offering of upscale shops and boutiques and more than forty five restaurants and eateries.  Brand name shopping can be found at the nearby Riverside Square Mall and Garden State Plaza, while the Bergen Performance Arts Center in Englewood features nearly 150 world class performances yearly, ranging from Rock and Classical music to Comedy and Dance performances.

The community is also a commuter’s dream.  The M is minutes from Route 4 with access to the George Washington Bridge and just 12 miles to Manhattan.  A parking space in The M’s enclosed parking garage is included in the purchase price. For those wishing to use public transportation, shuttle service is provided from the community to the nearby NJ Transit bus stop which offers convenient service into New York City.

For more information on The M at Englewood South, please call 866.650.3842 or visithttp://www.LiveAtTheM.com.