I think if they really want to make this successful, they’ll need to provide a full sized grocery store. There are small stores throughout the neighborhood but not a single full sized one. Hopefully that changes in a few years.
I think it also helps that JSQ is an opportunity zone making it an easier decision than other neighborhoods to invest in.
Probably means there were deeper issues with the stop work order a few months back. Hopefully this starts up again soon…
It has nothing to do with the stop work order. Here’s what I’ve pieced together from various sources:
Multiple contractors onsite have informed neighbors that the owner has been negotiating with the city to build a taller tower under the new zoning rules approved in the summer for Journal Square. Unfortunately the progress has been slow. The rules are a bit too costly in terms of income-restricted housing requirements (in relation to the amount of extra height allowed) for it to make enough financial sense to attract a construction loan. Unlike almost every other city in the region (NYC, Hoboken, Newark, Yonkers, White Plains, New Rochelle, etc), Jersey City does not offer abatements for mixed-income buildings, so the options to make it work are quite limited. As a way of balancing things out, the owner has sought additional zoning variances. The city has been reluctant to support these variances…a lot of difficult negotiations. Hence the months-long delay. Unclear at the end of the day whether they’ll build the taller version of this, or walk away and build the version that’s already been approved.
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Plus the question if engineering would allow a taller structure.
The new taller proposal is now public record. They are asking the city to grant them 4 additional variances in exchange for pursuing the mixed-income plan:
Applicant proposes fifty-five (55) story (including one permitted mezzanine level) mixed used 542 residential units, 154 hotel rooms, two (2) ground floor retail spaces, office use (pursuant to office use bonus), banquet hall, two restaurants, and 202 parking spaces, four (4) additional floors including (2) utilized for parking.
Variances Being Sought: Building height in stories; tower front setback; side setback abutting a lower density zone; setback from adjacent property’s rear property line. Previously granted: valet parking; head in/head out loading with no change in condition.
The answer seems to be yes, but only with some structural accommodations to transfer the load of the extra floors. That was a big sticking point, because it meant extra setback variances. See the new proposal in my post before this one.