JERSEY CITY | 20 Columbus Dr (Harborside 4) | 684 FT | 57 FLOORS

[apophenic]

No rendering or Planning Board application yet, but some interesting details coming out. Panepinto and Related laying out an aggressive timeline…from submitting a Planning application to breaking ground in about a year.

Now saying 750 units instead of 800 units previously reported. Condo included, which is a rarity. Giving a height of “up to 60 stories” at one point, and “over 60 stories” at another point in the article.

Warning that article has some inaccuracies (e.g., saying the site is 1,338 acres when it’s 1.38 acres, referring to zoning “amendments” instead of the zoning ordinance (no amendments required), talking about what the Planning Board and Council have done for the project (it hasn’t even been submitted to the Planning Board yet, and the Council has no role in this process))

Pre-development costs are expected to reach $80 million, with the total cost expected to reach about $600 million, according to Related.
…
800,000 square feet of space in the new development.
…
Related President Bruce Beal said that his firm plans to build a mixed-use residential tower up to 60 stories, as city zoning allows for that height as of right, and that the final unit count would be roughly 750 apartments, with rentals at the lower floors and for-sale units likely at the top. A retail component with a combination of restaurants, food and beverage, parking and retail is also planned for the base of the building, he said.
…
Beal expects the developers to seek a $350 million to $400 million construction loan to get to work on the project, expected to start next fall or before the end of 2024.
…
“We’ll go to our stable of construction lenders,” he said. “We’ll capitalize with one of our joint-venture equity partners and with Related’s equity and Panepinto.”
…

“It will probably be over 60 stories, and I think this will be very successful.”

JPMorgan Makes $58M Acquisition Loan to Related for Jersey City Deput

[JiggsNY]

A little confused about the exact lot in discussion. It is the parking lot between Greene, Pearl, Hudson and Columbus?

[apophenic]

[apophenic]

The tower will only be 50 floors. I’ll update with more info next week.

[apophenic]

Details: 800 apartments, 12,374 sq feet retail.

57 floors, 684 feet.

The zoning for the site states that parking doesn’t count toward the permitted number of stories in the tower, which is 50 stories. They put 50 stories down on the application since that’s the “official” maximum not including the 7 levels of parking.

399 parking.

Architect is Handel Architects.

Given the 50% parking ratio (no parking is required), I’m guessing the apartments will be on the expensive side for downtown JC.

[nuplex]

Purely speculation but given its location (offices; surrounding buildings have parking, near PATH) and retail component, they might be aiming for a paid public-access garage rather than one purely for residents. Otherwise the parking ratio is pretty high. I know for a fact many of the residential buildings by the waterfront do not have full private garages, and they probably have access to that info, so they knowingly included the parking. Either that or its just to increase the height.

[the726]

Jersey City Planning Board approves 50-story Harborside 4

Planning Board approved.

[streetscaper]

Awesome! If you have access to the article, do you mind posting the pic of the skyline rendering that’s in the link preview?

[streetscaper]

Actually the link preview one seems large enough to get a good view

[the726]

I was viewing it from my phone so I couldn’t find that preview image. Thanks for adding it @streetscaper!

Here’s the article in case the pay wall pops up:

A massive, mixed-use high-rise will replace a surface parking lot known as Harborside 4 on the Hudson River waterfront n Jersey City.

Harborside 4 had been earmarked as a 1.2 million-square-foot office building amid the once-bustling “Wall Street West,” but that use was deemed outdated when the COVID-19 hybrid/remote work model became the norm after the pandemic.

Last year, the property was sold for $58 million by Veris Residential, formerly Mack Cali, to Related Companies, an international firm that has built massive mixed-use developments in New York City, Boston, Chicago, Abu Dhabi and London.

The Jersey City Planning Board Tuesday unanimously approved the new, 50-story Harborside 4 project, located at 20 Columbus Dr., adding 800 residential units to the city’s constantly growing Downtown. The project will include 399 parking spaces in a multi-level garage and more than 12,000 square feet of retail space, according to planning board documents.

“We thank Mayor Fulop and the Jersey City Planning Board for their continued support and shared vision to bring best-in-class, service-driven, luxury living to the Jersey City waterfront,” Frank Monterisi, executive vice president of Related Companies, said in a statement to The Jersey Journal.

“With unbeatable transit connectivity to both Manhattan and New Jersey, a growing array of local shopping and dining offerings and panoramic waterfront views, Jersey City is already one of the best places to call home in the tri-state (area), and Related’s first luxury residence in the market is perfectly timed to meet the growing residential demand in Jersey City’s dynamic waterfront neighborhood.”

A spokeswoman for Related Companies is partnering with Panepinto Properties on the development.

Renderings of the project show a bronze-colored building with two towers on top of a large base that stands out among the city’s skyline on the Hudson River.

The building will also include more than 400 bike spaces, a health club and a pool. More than half of the building’s apartments will be two-bedroom units. The rest will be split between studio and one-bedroom apartments.

According to documents, the project has no affordable housing. Robert Verdibello, a Connel Foley attorney representing Related Companies, told the planning board the project doesn’t trigger the city’s inclusionary zoning ordinance since the building is permitted in the area’s redevelopment plan.

“I think this will be a very attractive addition to the everchanging and growing Jersey City skyline,” Verdibello said.

The 684-foot tower will be right around the corner from the new Whole Foods on Greene Street. The building is just a block away from the Exchange Place PATH Station.

The building would be the seventh-largest building in the city, well behind 99 Hudson, which stands at 79 stories or 889 feet.

One of Related Companies’ most notable projects is Hudson Yards, a re-envisioning of the West Side of Manhattan between Chelsea and Hell’s Kitchen. Hudson Yards is 28 acres of land that contains more than 4,000 units, 14 acres of public green space, a 750-seat public school and 212-room hotel.

[arctic_camel]

full size

[GentriVacation]

It’s great to see these downtown surface parking lots get developed!

[apophenic]

Equinox gym will be a tenant.

An indication that they’re serious about moving forward in a timely fashion with construction?

Equinox is Coming to Jersey City, Hoboken Plans TBD