Monday, May 15, 2006

New Path Station In Jersey City?

From the Jersey Journal:
NEW PATH STATION?

"It's been 33 years since the Port Authority of New York and New Jersey built a new station for its Trans-Hudson rail system - a fact that is not derailing Jersey City Mayor Jerramiah Healy in his quest for a PATH station in the Marion section of the city."

""We want to encourage people to use mass transit rather than all these motor vehicles that are clogging the daylights out of the county, the city and the state," Healy said."

"With some 1,000 units of housing slated for the largely residential area, city officials are pushing into high gear to convince the Port Authority to add an above-ground station at the corner of Broadway and West Side Avenue, an idea that the agency is decidedly cool to."

"One official familiar with the project suggested asking developers to pay a portion of the construction cost since a new PATH station would likely add to the value of nearby property."

"Roughly 500 units are in the works for the American Can site on Dey Street and 239 condominium units are planned for the old Volkswagen showroom on Kennedy Boulevard."

"But both Lipski and Healy oppose the idea of asking developers to contribute to mass transit projects."

27 Comments:

Anonymous Anonymous said...

Just what Hudson County needs, more condos. The old Volkswagen showroom site would have trouble putting 40 condos in 2 stories so I can only imagine how high this new monstronsity will go.

5/15/2006 09:27:00 AM  
Anonymous Anonymous said...

That propose site is about 5-10 minutes walk to the journal square station. I don't see how it will benefit anyone but the condo developers.

5/15/2006 09:56:00 AM  
Blogger chicagofinance said...

I used to go to an a mechanic around there. You can absolutely walk to Journal Square from that area.

Sounds like a money grab by a few local hacks willing to add 3-5 minutes of commute time in each direction for thousands of commuters each day. Disgusting.

5/15/2006 10:02:00 AM  
Anonymous Anonymous said...

Healy is a bad mayor, he is a mouthpiece for the developers and has not solved some of the fundamental problems in JC, like the budget crisis or the police problems.

In JC the gov't is there only to serve themselves the truth is we need less parking enforcement and other crap(Very expensive schools, etc.) and more cops walking the beat especially downtown where there really are no cops and there is a large population.

Hudson county is really bad I pay huge taxes and recieve no services in return.

5/15/2006 10:26:00 AM  
Anonymous Anonymous said...

Real estate cools down
Prices in the first quarter fell 3% from the fourth quarter, though are still up more than 10% from a year ago.........................The report quoted NAR's chief economist David Lereah saying, "With the supply of homes picking up very nicely in many areas of the country, pressure is coming off of home prices."

Lereah is optimistic that the market will soon return to growth. "By the time we report second quarter data, I expect most areas will be returning to normal rates of price growth in the single-digit range."


complete article in the money site:
http://money.cnn.com/2006/05/15/real_estate/NAR_firstQ2005_home_prices/index.htm


Poignant

5/15/2006 10:35:00 AM  
Anonymous Anonymous said...

Anon 11:26am,

I concur with your views of Healy and the gang in JC. They all seem entirely corrupt, with the exception of Steve Fulop, a new counselman who is routinely accused of "grandstanding" when he speaks the truth about the police problem and the development problem. Fulop's resolutions about routinely fail. The absence of effective leadership on policing and development will hold JC back, no matter how valuable its proximity is to Manhattan.

5/15/2006 10:38:00 AM  
Blogger minutesfromNYC said...

A better question would be, if you can afford to waste half a million on a place to live, why on earth would you want to live in Jersey City?? I didn't know how classy a studio condo with granite countertops could be..not to mention how safe I feel there.

5/15/2006 10:55:00 AM  
Blogger Grim Ghost said...


A better question would be, if you can afford to waste half a million on a place to live, why on earth would you want to live in Jersey City?? I didn't know how classy a studio condo with granite countertops could be..not to mention how safe I feel there.


Some of the newer developments are in fairly safe areas. The buildings are nice as well, sometimes very nice. But I think they're too expensive, the schools are awful, the taxes are high if you don't have an abatement.

The commute to NYC is fairly good, too. And some people think of this as a substitute for Hoboken.

5/15/2006 11:01:00 AM  
Blogger minutesfromNYC said...

Some of the newer developments are in fairly safe areas.
yes, but you still have to drive through the bad areas to get to the good areas.

Almost like going on vacation in Jamaica. Sure, the resorts are nice, but don't venture past the gates.

not worth it IMO

5/15/2006 11:14:00 AM  
Anonymous Anonymous said...

The housing and rentals are extremely over priced in Jersey City. I've been searching in the Hamilton Park/Van Vorst Park areas (which have improved greatly in the past 3 yeasr) and am amazed that brownstones that were 400k only 3-4 years ago are now selling for 1.3 million dollars. What a vaulue. NOT!

Small condos (500 - 800 Sq. Feet) in this area are going for 450k. Yes you are buying the location, but can you actually live a reasonable life style after you slave away your mortgage payment. I know I'm not willing to do that. In Hoboken, the prices are even higher and the spaces are even SMALLER (think 450 Sq. Feet for a condo).

Taxes are going up in July as well.
The pricing of houses/condos in Jersey City are sloooooowly hissing down, but not enough at this time. Its as if everyone is waiting to see if the last of the suckers are going to buy now or wait for the venerable Spring Season to end before they start lowering their asking prices.

Like Bob, I say Boycott houses! My wife and I have seen alot of property in the past few months, have gone though 4 crap Real Estate agents and continue to "look". At least we're no longer getting asked "Do you wanna make a bid today". LOL

5/15/2006 11:25:00 AM  
Anonymous Anonymous said...

anon@10:27,

Is the market in JC for condos still on ? Will they be able to sell the 200 odd condos on the Volks site (and remember the noise factor as well - these condos will be on Kennedy Blvd).

CNS

5/15/2006 11:28:00 AM  
Anonymous gary said...

I was born and raised in Jersey City. Lived there up until 8 years ago. 30 - 35 years ago, the place was beautiful; nice shops, great neighborhoods, etc. If you have a family, don' move to Jersey City. If you have to get an apartment and commute, go to Rutherford or somewhere on the fringe of Hudson County/NYC. Even Secaucus might be an alternative.

5/15/2006 11:28:00 AM  
Anonymous Anonymous said...

That's what we're thinking as well. We're now starting to look at "on the edge" of Hudson County areas like Ridgewood, Bloomfield, etc. Just seems to be more bang for our buck.

In terms of an ongoing condo market in JC. It's like they can't stop building condos. People are buying them at outrageous prices. In the next two years, there will be a lot more inventory due to the Trump project, various Powerhouse "loft spaces" (150 Bay St., Waldo Lofts, etc.) I just want to know...Who the F is buying these properties at these properties aside from developers?

In terms of family, I totaly agree. I'd never send my kids to school in JC!

-frustrated!

5/15/2006 11:35:00 AM  
Anonymous Anonymous said...

That's what we're thinking as well. We're now starting to look at "on the edge" of Hudson County areas like Ridgewood, Bloomfield, etc. Just seems to be more bang for our buck.

In terms of an ongoing condo market in JC. It's like they can't stop building condos. People are buying them at outrageous prices. In the next two years, there will be a lot more inventory due to the Trump project, various Powerhouse "loft spaces" (150 Bay St., Waldo Lofts, etc.) I just want to know...Who the F is buying these properties at these properties aside from developers?

In terms of family, I totaly agree. I'd never send my kids to school in JC!

-frustrated!

5/15/2006 11:37:00 AM  
Anonymous UnRealtor said...

It's a good thing they just spent millions putting in that Light Rail train.

It's probably safer to work in JC today than 5 years ago, due to all the construction, etc, but venture out a few blocks west after dark, and you'll probably get stabbed.

I wouldn't live there if a condo with granite counters cost only $50K.

Check out the police blotter, owners of little convenience stores are robbed and murdered nearly every month in JC.

And if you have kids, plan on Private $chool. Lots of punks roaming around after dark.

5/15/2006 11:45:00 AM  
Blogger minutesfromNYC said...

Yes, I do wonder who is buying these $500,000 studio condos

I suspect college grads making 40k right out of school got sucked into the "low teaser" rates.

5/15/2006 11:58:00 AM  
Anonymous Anonymous said...

For half a million dollars, you too can live in our downtown luxurious open space studio apartment (600 square feet) with parking (leased of course for only $275 a month), concierge (only $600 maintenance fee), low taxes (only $6,000 per year, but that’s based on last year’s taxes) and close proximity to the city.

What a bargain. LOL

-frustrated
!

5/15/2006 12:08:00 PM  
Anonymous Anonymous said...

I have a rental apartment and JC is very nice downtown. There are some undeniable benefits to livign there. It is close to the city and the jobs on the Waterfront JC, HOB, Weehawken etc. It is convient to most things and you do not have to drive as much. As for the inevitable Hoboken debate JC is a lot quieter, it is easier to have a car there, and in general the houding stock is nicer and still cheaper than HOB. Now conversly people are really insane about how much these places cost. I originally wanted to buy but quickly dropped that idea when I saw the prices. I had originally started looking in 2002-03 and for the money then I was interested now forget about it the rents went up $200 the prices went up $300k. But as for this "
I've been searching in the Hamilton Park/Van Vorst Park areas (which have improved greatly in the past 3 yeasr) and am amazed that brownstones that were 400k only 3-4 years ago are now selling for 1.3 million dollars." Three years ago a nice brownstown in Van Vorst where I live would go for about 750k now it is like 1m or 1.1m(6 months ago 1.3m) a crummy one closer to Grand st. or Grove would have been 400k but today is 700k-800k.

But the big issue is crime downtown is not inhabited by thugs for the most part the people there are ok aside from Columbus ave some of those apts are a bit sketch. The issue is that the Montgomery housing projects come and hang out at Newport and in the downtown neighborhoods because it is nicer down there. The cops are nowhere to be seen, vagrants hangout everywhere and late at night kids from the hood terrorize the neighborhoods downtown. It is a bad situation when people with money move in and they become a target. Fulop is good because he is a Downtown resident and he represents the new Downtown residents. I really like living there but still more needs to be done to curtail crime and clean up downtown.

Instead of all of this condo development how about cleaning up Newark Ave. and Columbus street, move in the merchants that the downtown customer wants, do streetscape projects there. Don't even get me started on the Newport mall Simon and LeFrak have to be kidding me hmm big office towers expensive condos, the only mall close to affluent hoboken and Dt JC and we get a Sears and a JC penny's a crap suburban mall on extremely valueable land. The retail at newport needs to be demolished, lets get real the residents in HOB and Dt JC want Nordstrom, William Sonoma, Pottery Barn, Coach, Tiffany, Bloomingdales basically riverside square or Short hills mall, maybe like Garden State Plaza. What we have is like a rundown version of willowbrook or Bridgewater Mall.

Also right now JC is populated with investors who are ultimately bag holders renting to younger people, young i-bankers (although they prefer HOB, but big salaries 100k+ starting 20%+ bonuses) or rich kids who are spending daddys money and can buy a nice place for less than in the City, Brooklyn Heights, or Hoboken. Prices downtown I think will stablize non-view units should trade around 400 psf and with a view 500 psf. The thing to remember about dt JC is I go to Dt. NYC Financial District it takes me 10 minutes to WTC including walking to the PATH.

5/15/2006 01:00:00 PM  
Anonymous Anonymous said...

Actually the completion of the light rail increased crime!! It makes it really easy to get from southern JC, Hoboken projects, Union City, West NY and North Bergen to the waterfront. Crime is actually up and local youth gangs are now growing across city borders.

5/15/2006 01:25:00 PM  
Anonymous Anonymous said...

They these gold coast neighborhods have their pros and cons. I once lived on Blvd East in Weehawken and my place was robbed. As for Hoboken and JC, there are some good values (in small properties), but you have to compromise--it's not Glen Ridge!

It's all a matter of lifestyle. 900sf and have a life close to the city, or 2000sf and bake cookies and watch DVDs with a few little B@$+@&)s you brought into this world!

5/15/2006 05:50:00 PM  
Anonymous Anonymous said...

Weren't the people in Montclair worried about an increase in crime when they electrified the rail system. I think they made it through the drama without incident, and their property values soared!

I remember the papers back then--people were selling out and moving in fear of the element that would be riding into town. Also, they were concerned that the electromagnetic currents would cause their children to have heads the size of excerise balls.

Hello, what planet are we from?

5/15/2006 05:55:00 PM  
Anonymous Anonymous said...

cause their children to have heads the size of excerise balls.

Hello, what planet are we from?


I don't think they had excerise balls back then-not yet invented. As for the planet, try Uranus!

5/15/2006 05:59:00 PM  
Blogger Grim Ghost said...


I once lived on Blvd East in Weehawken and my place was robbed.


I lived on Blvd. East for several years. While its not strictly a gold coast place (predating the recent set of developments), I found it to a be pretty good place overall, with excellent public transport to Manhatttan, great river views and parks.

5/15/2006 07:21:00 PM  
Blogger Roadtripboy said...

I agree with what some other posters have said in that the last thing Jersey City needs is another condo development. This area is so overdeveloped that the infrastructure can't support it anymore. I just returned from the downtown ShopRite and it was very annoying. A few years ago you could get in and out of there pretty quickly. Nevermore! It was so crowded (and on a Monday night no less!) it really got on my nerves. To top it off, the lite rail traffice light on 6th street near the mall was malfunctioning: it was turning red with no trolley coming through. That was the icing on the cake.

Was the light rail system a gift to the developers? It doesn't really seem to help the city in general, but it does help only those condo developments near it. I can't believe that the county was interested in helping out the residents of the Hoboken projects (the light rail not only passes by but stops twice in this area), but then again, there are multi-million dollar condo developments there.

That proposed new PATH station sounds like a gift to the developer because that neighborhood isn't too far from the Journal Square PATH station.

I'm becoming more cynical with every year on this planet, unfortunately. When the light rail was being built I remember writing to NJ Transit saying that the light rail would better serve the city by going under Palisade Ave in the Heights (though costing more money, for certain) rather than traverse the middle of nowhere on the west and northern edges of Hoboken. But then again, I don't think NJ Transit was interested in doing something that was necessarily good for the city but good for the developers.

5/15/2006 10:16:00 PM  
Anonymous Anonymous said...

I live nearby, the Neighborhood is called the Marion, and they definatly do need another PATH Station. People have been saying they need a station there for several years now, now finallly the politicos are jumping on the bandwagon.
The benifits of a new station are Not for the devolpments on Kennedy boulevard, but rather for the middle class condos they building along that stretch of broadway near westside avenue. The walk to Journal Square from that location is more like a 20 minute hike up steep hills. A new station would bring more affluent residents to the neighborhood, and would be relativilly inexpensive...

5/16/2006 04:06:00 PM  
Anonymous Anonymous said...

i It's all a matter of lifestyle. 900sf and have a life close to the city, or 2000sf and bake cookies and watch DVDs...

Three years ago I sold my house in Rutherford (center hall colonial) and bought in Weehawken (Victorian). Since then, I have never regretted the move. I really enjoy the lifestyle changes such as: taking the ferry and being home in 10 minutes; biking along the water; going out for walks on BLVD east; going to festivals on the water; & checking out the NYC views. Basically my wife and I are never home...and we love it. On the other hand my friend is dead set on buying in the Cedar Grove/Montclair area. He wants a large lot in which he can have his "backyard oasis", chef’s kitchen, and a movie/game room. I honestly can’t understand…why stay home? I am currently looking to buy a multi-family in Weehawken, Downtown JC, or Hoboken (when the bubble deflates a bit more). Until then – I will continue my lifestyle and save more cash.

i I once lived on Blvd East in Weehawken and my place was robbed.

I remember last year the local paper stated that the crime rate has consistently been falling to the lowest point in decades. I feel safe here and never seen any “gang” activity or undesirables hanging on corners. And the Weehawken cops are always around on foot, car, or bike all over town – especially on Park Ave and Blvd East.

Thank you Grim and "the regulars" for your thoughfull coments.

5/17/2006 12:43:00 PM  
Anonymous Anonymous said...

What good is another station if there is no direct link between JC and NYC at night and on weekends, especially! You have to spend up to 20 minutes waiting for a PATH train, then sit in Hoboken for 5-10 minutes while a few people get on and off (all in a crowded train with no available seats). I have had a few friends from NYC over, and they say there is no way they are coming back! Real estate moguls should consider why Jersey City has "cooled down" in the last few months-it is when the PATH started the new schedule. If this schedule had been in effect when I was looking to move here, I would be in Brooklyn right now. The PATH train planners have effectively lowered interest in Jersey City as a destination from NYC considerably!!!!

7/22/2006 09:25:00 AM  

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