Posted Oct 26, 2013, 5:14 PM
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Join Date: Dec 2011
Posts: 601
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It seems that just as the other three-tower development in JC, The Journal Square Towers, this one is also groundbreaking this year with the first tower
URL Harborside: Work to Begin This Year
http://www.globest.com/news/12_720/n...li-339013.html
Quote:
JERSEY CITY, NJ-TD Bank says in its Regional Multifamily Outlook that, while 2,000 new apartment units will open along New Jersey's waterfont in the next two years, steady deman for them is expected. That demand will mostly flow from New York City where demand is ever more voracious and land is scarce and more expensive to develop.
Mack-Cali CEO Mitchell E. Hersh said last week that his company plans to move forward quickly wth the first 763-unit tower for its URL Harborside project here, as reported in GlobeSt.com last week. The residential towers - three are planned - are a joint venture iwth Ironstate Development.
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Quote:
JERSEY CITY, NJ-Ironstate Development Co. and Mack-Cali Realty Corp., whose residential project recently won $33 million in state tax credits, will begin work on the first phase of the project by the end of the year, GlobeSt.com has learned.
URL Harborside, the first phase of a project that will include three residential towers along the Jersey City waterfront, was awarded the credits under terms of the Economic Opportunity Act signed into law last month. The project is expected to create approximately 700 construction jobs.
The first-phase tower will be a 69-story building with 763 apartment units, built atop a parking pedestal.
An exact date for the groundbreaking has not yet been announced. URL Harborside (Urban Ready Living™) will ultimately include three residential rental towers, ancillary retail space, and parking. It adds a housing component to Mack-Cali’s Harborside, a “city within a city” office complex.
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