Hoboken-based Urban Square Properties is moving forward with demolition work to make way for a six-story, 27-unit mixed-use building at 500 Palisades Avenue, located on the corner of Bowers Street in The Heights section of Jersey City. The project will include 2,834 square feet of ground-floor commercial space, as well as a gallery. There will also be a 14-car parking garage, Jersey Digs reported. Lee Levine Architects is behind the design. The project was approved in May by the city’s Zoning Board. Urban Square then purchased the property, previously owned by CLG Properties, for roughly $1.9 million during the summer. A targeted completion date has not been revealed.
Morris County, N.J.-based K.D. Properties is planning to develop a six-story, 25-unit residential project at 469 Newark Avenue, located on the corner of Waldo Avenue in the Journal Square section of Jersey City. The new building will also include a 25-car parking garage on the ground floor, Jersey Digs reported. The Jersey City Board of Adjustments originally approved the project back in 2008, although it only recently received a tax exemption that will expire within five years. The site, which traded hands for $800,000 in 2015, is currently vacant. Construction is expected to be complete by early 2018.
The Jersey City Redevelopment Agency (JCRA) has launched a request for proposals (RFP) for the city-owned development site consisting of 41 Aetna Street and the southern portion of 52 Aetna Street, located in downtown Jersey City’s Liberty Harbor section. The city is seeking a developer that would build a mixed-use project. The site could accommodate residential units, commercial spaces such as offices, retail, and hotels, and community spaces such as academic and medical facilities. Significant infrastructure work must also be done by the developer, Jersey Digs reported. The two-acre plot contains a number of small industrial structures and must first be remediated. Proposals are due December 16.
Earlier last month, Bayonne, N.J.-based BCB Community Bank received approval from the Jersey City Planning Board to build a five-story, 72-unit mixed-use project at 429 Bergen Avenue, located on the corner of Clendenny Avenue in the Bergen-Lafeyette section of Jersey City. The ground floor will contain 2,150 square feet of retail space and a 50-car parking garage. The 25,600-square-foot property is currently vacant and traded hands for $2 million in August, Jersey Digs reported. A construction timeline has not been disclosed.
An anonymous LLC has proposed to develop a four-story, 21-unit residential building at 662 Summit Avenue in Jersey City. That’s on the corner of Route 139 in the Heights. The project would also include 12 off-street parking spaces, Jersey Digs reported. The site consists of a small, vacant lot and a single-story commercial warehouse at 165 St. Pauls Avenue, which have to be demolished. The Jersey City Zoning Board of Adjustment must approve the project.