Saturday, July 22, 2006

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.

11 Comments:

Anonymous Anonymous said...

Anhy idea with respect to the pricing?

7/22/2006 06:02:00 AM  
Blogger Richie said...

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

7/22/2006 07:44:00 AM  
Anonymous Anonymous said...

yeeps is right.

SAS

7/22/2006 08:46:00 AM  
Anonymous Anonymous said...

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

7/22/2006 01:11:00 PM  
Anonymous Anonymous said...

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.

7/22/2006 04:21:00 PM  
Blogger Richie said...

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

7/22/2006 05:52:00 PM  
Anonymous UnRealtor said...

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

7/22/2006 11:46:00 PM  
Anonymous Anonymous said...

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

7/23/2006 02:16:00 AM  
Blogger grim said...

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

grim

7/23/2006 06:26:00 AM  
Anonymous Anonymous said...

Why would it go rental?
Lack of sales?

7/23/2006 08:40:00 AM  
Blogger grim said...

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

7/23/2006 10:03:00 AM  

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