Jersey City officials broke ground on the Hudson Exchange Phase II’s 60-story tower downtown yesterday, featuring 1.3 million square feet and 802 luxury rental apartments.
By John Heinis/Hudson County View
Brookfield Properties and G&S Investors, in partnership with lenders Ullico, Washington Capital and AFL-CIO Housing Investment Trust, broke ground with city partners at 420 Marin Blvd. yesterday morning.
The development also includes 115,000 square feet of retail space, including 85,000 square feet that is pre-leased to the neighboring ShopRite supermarket that the planning board approved back in October.
“Jersey City is leading from the front in supporting development that balances the needs of new residents and the existing community,” Brookfield Properties Vice President Robert Pears said in a statement.
“We’re proud to build upon the success of the first phases of Hudson Exchange, which include two residential towers, both of which were fully leased in record time, demonstrating that demand for quality housing in Jersey City continues unabated.”
Designed by the architecture firm Beyer Blinder Belle, the 60-story tower will rise 634 feet in height, affording its residents striking views of the Manhattan and New Jersey skylines.
Each residence will feature quartz countertops, walk-in closets and in-unit washer/dryers, along with access to an expansive collection of indoor and outdoor amenities that include a rooftop pool, a social lounge, a fitness center, a game room, a dining/conference room and a co-working lounge, among other spaces.
The Metro Plaza ShopRite supermarket, a long-established, affordable neighborhood grocery option, will relocate from a nearby building to continue its 30-year legacy at the base of the new tower. This state-of-the-art store will include internalized parking and loading facilities, serving as an amenity for residents and the surrounding community.
“With the second phase of Hudson Exchange, the Metro Plaza ShopRite — one of Downtown’s most important amenities — will soon have a new, modern home that enables it to better service the Jersey City community,” added Fulop.
“Our residents deserve access to vibrant food stores for their daily shopping needs and I’m thrilled that the new location for this longtime community staple is being built entirely with union labor. We look forward to seeing this highly transformative development continue to come to life.”
Furthermore, Hudson Exchange Phase II will feature over 20,000 square feet of publicly accessible green space that includes plazas, a new dog park and the Sixth Street Embankment Plaza, which will serve as the gateway to Jersey City’s forthcoming Sixth Street Embankment, an elevated rail line that the City is transforming into a public park.
“As third and fourth generation grocers, we take pride in listening to our customers to understand what they want and need from their neighborhood supermarket,” added Larry Inserra Jr., Chairman & CEO at Inserra Supermarkets, the owner and operator of ShopRite.
“This ShopRite location has supported the Jersey City community for three decades and we’re thrilled to be able to provide them, as well as our staff, with an exceptional experience at Hudson Exchange.”
Think of it sixty stories more of affordable housing for multi-millionaires for Jersey City residents