Ground Broken on Hovanian’s JC Project

From the Hudson Reporter:

1,000+ new neighbors

Ground was broken Tuesday for two 500-foot skyscrapers, including 1,000 new condominiums and apartments, to rise at 77 Hudson St. near the waterfront.

The new project by K. Hovnanian Homes and Equity Residential is “just another step in the advancement of Jersey City,” said Mayor Jerramiah Healy at the ceremony Tuesday.

The 1.76-acre parcel is located on Hudson and Sussex streets.

One tower will hold 420 condominiums to be sold by K. Hovnanian, and the other will hold 481 apartments operated by Equity Residential.

Equity Residential is expected to rent out the apartments during the winter of 2008, and K. Hovnanian is expected to occupy the condominium building during the spring of 2009.

K. Hovnanian plans to begin selling homes at the property around the end of this year.

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11 Responses to Ground Broken on Hovanian’s JC Project

  1. Anonymous says:

    Anhy idea with respect to the pricing?

  2. Richie says:

    How scary.

    My wife, my son, and I live on 1.76 acres in Pequannock, NJ.

    There’re putting 1000 units on 1.76 acres.

    Yeeps.

    -Richie

  3. Anonymous says:

    yeeps is right.

    SAS

  4. Anonymous says:

    Richie,

    To add to the irony, KHov will probably charge each sardine more for a condo there than for house on an acre+ spread in Pequannock or PA or Sussex/Warren/Hunterdon.

    CNS

  5. Anonymous says:

    What’s the story on that KHov
    project in W.Paterson?

    900 or so units, up on the mountain.

    Heard the prices are very high.

    I think its an over 55 complex.

  6. Richie says:

    There’s 700 units going up on what used to be garrett mountain. I beleive 20 single family homes, 300 condos, and 400 age restricted condos.

    -Richie

  7. UnRealtor says:

    Grab your underwater goggles JC market peak buyers — 20,000 more new units added to JC inventory in the next 10 years.

  8. Anonymous says:

    just rented “The Day after Tommorrow” I loved it… NYC and JC under 100feet of frozen/freezing water. GREAT!!!!

  9. grim says:

    I wonder if the age-restricted portion of Garrett will go rental.

    grim

  10. Anonymous says:

    Why would it go rental?
    Lack of sales?

  11. grim says:

    During the last downturn, a number of large-scale condo developments turned condo.

    I expect the same to happen with some of these large-scale developments.

    grim

Comments are closed.