[chris08876]

Jersey City Council passes 1st reading of subsidy deal with JCRA to cover $170M Bayfront bonding

The Jersey City Council unanimously passed (8-0) the first reading of an ordinance authorizing the local redevelopment agency to issue nearly $170 million in bonds to help pay for the Bayfront project land.

The Bayfront is a massive redevelopment along the Hackensack River in Ward A that calls for 8,100 units of housing, a 340,000-square-foot office space, 450,000 square feet of retail, and 19 acres of parks.

The activist group Jersey City Together worked hard to push for the site to be cleaned of toxins and for affordable housing units to be built there.

The residential component also comes with 35 percent affordable housing and there will also be a K-8 school that would have the capacity to hold 400 students.

Jersey City is working to extend the Hudson-Bergen Light Rail to the Bayfront as part of the plan to redevelop the area. In addition, they are collaborating with NJ Transit to build a new train station there.

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https://hudsoncountyview.com/jersey-...front-bonding/