Real Estate Weekly
Image default
Residential

Jersey City development gets site plan approval

Jersey City Planning Board has given site plan approval for Baldwin Place, a nearly six-acre mixed-use redevelopment in Journal Square.

Genova Burns attorney Eugene T. Paolino, representing lead developer Argent Ventures, unveiled the first details about Baldwin Place during a presentation at the Jersey City Planning Board meeting on June 23.

The redevelopment calls for 980 market-rate rental apartments, distributed among four buildings, two of which are seven stories and are part of Phase I and two are each 25 stories which are part of Phase II.
The project, when completed, will open long obstructed view corridors and include luxury amenities such as rooftop pools, 36,447 s/f of ground floor retail, a parking garage for 502 cars, and bike storage locations.

The development will also have a wide, landscaped promenade with views of the Manhattan skyline, the Jersey City waterfront and the Statue of Liberty.

The project will be integrated with the Journal Square neighborhood and will provide seamless access to a variety of public transportation lines. The site, purchased by Argent Ventures in 2012, currently houses five commercial buildings originally belonging to the C.F. Mueller Pasta Company. After Mueller vacated the site in 1997, the buildings deteriorated over time, leaving an abandoned eyesore at the geographical center of Jersey City.

Argent Ventures plans to fully demolish each the dilapidated structures in advance of the first phase of construction of the redevelopment.

Baldwin Place comes on the heels of several prominent new developments in the Journal Square community.
The City, which designated the neighborhood as an “area in need of rehabilitation” in 2008, formally adopted the Journal Square Redevelopment Plan in 2010, designed to foster development of transit-oriented development of new housing, offices, commercial, and public open spaces.

Over 4,000 new residences are currently planned for the Journal Square neighborhood in addition to Baldwin Place, including One Journal Square, a recently announced redevelopment that includes approximately 1,500 apartments and 100,000 s/f of new retail space and parking.

Related posts

Realogy accuses Compass of lying, stealing, cheating its way to top

Linda O'Flanagan

Historic day for New York City’s residential agents

James Whelan

Survey finds race still a factor in mortgage approval

REW