From the Jersey Journal:
Sky’s the limit in Jersey City
By JARRETT RENSHAW
Jersey City is quickly becoming Vertical City.
Already home to the state’s four tallest buildings, by decade’s end it could have the 10 tallest, further transforming nearly everything Downtown east of Grove Street into Manhattan-style high-rises, supported by an extensive public transportation system.
The city’s Planning Board is expected to consider a 775-foot residential tower, dubbed the Metropolitan, on land just south of the Newport Mall, at the site the Pep Boys Automotive store.
If completed, the $200 million Metropolitan would become the state’s second tallest building, after the 781-foot Goldman Sachs building on Hudson Street. The tower is one of several that may be built in the 18-acre shopping area currently anchored by a Shop-Rite supermarket and a BJ’s Wholesale Club.
…
It was just months ago that Donald Trump made his splash on the Gold Coast, announcing plans for Trump Plaza Jersey City, boasting that its two towers would be the tallest residential buildings in the state.But with the announcement of the Metropolitan, Trump can no longer make that claim.
Jersey City has the four tallest buildings and another, Harborside Plaza 5, that is tied with Borgota in Atlantic City as the fifth. A number of projects slated for construction during the next several years will move into the state’s top 10 list.
They include 111 First St., Trump Towers, the Metropolitan and 77 Hudson St.
“It is really a reflection of the pressure put on Jersey City to become vertical,” said Bob Antonicello, the executive director of the Jersey City Redevelopment Agency.
It really is stunning to see all the transformation of JC in the last 5 years.
Those who bought 5 years ago in JC got a double boost — 1) the neighborhood improved dramatically, and 2) the massive RE runup in general.
Sell now.
Or rather “Sell last year.”
THe market is still pretty hot in JC as it is in Qns and Brooklyn, sell now while you can!
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