The Sugar House is great I think that is one of the best small projects in Hudson county. I think the truth is the developers can?t afford to make a profit with that scale of a project anymore. When the Sugar house was converted they bought that building for much less than what it would be in todays market, hence there ability to make a profit at a smaller scale, the bottom line is times have changed for the better and Jersey City is on the map as desirable place to live, people are coming out of NY and the Jersey Suburbs to live here... that wasn\'t so much the case 8 years ago) And if you have been living in JC for 8 years you have seen great appreciation in you home value. Could you have afforded your house today and made the renovations you have made over the years if you had to do it at today?s prices? I would think 8 years ago you could have bought in the PAD for ~$250-$300 per sq foot (if that) now its between ~$500-$700 that s 2x-3x delta for everyone including Toll Brothers. I am not saying don\'t renovate that warehouses I just understand why they cant, and if the choice is high-rise or nothing i would rather see the high-rise than to see the warehouse sit like that for another 10 years. And if that means they have to be torn down.... I will be okay with that.

I can\'t blame the counsil, im sure the developers came back to the table at the 11th hour and said they couldn\'t afford to make the project the way it is. Don\'t forget the banks are not lending money they way they were 3-2-1 years ago ever 6 months ago. To get the lending to build is much differnt today then ever in history. Look at what is happening with Bear, Citi, Merrill, Wachovia etc... Trump was built on a 97% LTV no bank has the ability to write that loan today, its more like 60-75% LTV (which means they have to write the 40%-25% check out of their cash balance sheet that is much different than it was 2 years ago. On a $100M project they would only have to put up $3M-$5M, now they need to put up $25M-$40M the banks take the rest of the risk. But that is a material change from what is was. And if they are going to do that they need to assure their stock holders, board members, banks etc... that the project is 100% a viable project). I don\'t know if you read the last 10Q for Toll Brothers, but it wasn\'t that good.

Plus the increase in the population/density can only help bring the foot traffic to all the places everyone has mentioned they like to eat, drink of hang out. With these new people spending money they will have eventually attracting more retail stores to take a chance at opening new places in our area. In the long run we need change and as much as i hate to say it but if Toll is willing to write the check, and clean up two warehouse and build an art center at the cost of losing a warehouse and building a high-rise....Okay.

Look at what is happening in Downtown Manhattan, once an area that was only business and not desirable to live at all. Now with all the high-rise conversion and new construction its one of the fastest growth sections in NY. Places like 10 Hanover Sq, Beaver House, 20 Pine, and 60 Wall are just a the ones I can think of. Those builders did the same thing, property was very cheap down there, especially after 9-11 they took a risk that paid off. If you wanted to build in downtown today it would cost you 3x-5x more than it did when they started 7 years ago.

And why don\'t we do something like Stone Street, that would be great in the PAD. A nice cobble stone street with a beer garden, etc...

To bring in the right types of developers, investors, and retail people we need to offer them something in return whether that is more density, or a higher foot count.

And not to argue but walking along Provost, Warren at night isn\'t the safest feeling. I know there isn\'t crime but it also doesn\'t feel safe either.

Don't get confused on the Class A, (I don?t mean to offend anyone) I simply meant that right now there a are a handful of undesirable warehouses (if your going to allow new projects why not build something high end vs something on the low end - build it right to secure our future).

By building a highrise 30 stories or 40 stories, 50, 60 whatever (whats the difference?).

Builders are under huge pressure, cost of construction, land cost, and soft cost adds up very quickly in Hudson County. If someone is willing to write the check and take on that risk, they need to be incentivized to do so, hence their request for density.

Just think about the ratables a 40 story building with an average purchase price of $800K will mean to the town, vs what is there now. (800,000*.018)*350 units= $5,040,000 tax dollars per annum. I haven't pulled the tax record for the property today but Im sure it is much lower than that.

I have a great solution, why don't you two raise the $100M needed to renovate these buildings.

Otherwise they stay the way they are, which isn't attractive nor does it generate the tax revenue that those sites can produce.

Also, raise the money to build the Prevost project which will also create great value for everyone in the county. (Thats another $100M)

Hooray for Toll Brothers!!!!!!!!
I live in the PAD too, and I love the fact that all the Redevelopment is happening. I understand people?s concerns about conserving the historic factory buildings, but lets call a spade a spade. As of right now, I wouldn't allow my wife to walk the streets at night through that area (although crime is low, it just doesn't feel safe). Second those buildings are ugly (they resemble crack houses); I don't know how you could renovate those buildings to attract anyone. Third and most important which no one mentions, is MONEY. It cost a ton of money to renovate/ build anything especially downtown JC. Everyone complains, yet I didn't see you break out your checkbooks to place a bid for any of these projects to build to your personal specs, and the reason you didn?t is because there are only a few firms in the northeast that can make that size of an investment. So if Toll is willing to write the check to clean up our PAD and make it a more desirable location, I applaud them. And if they need greater density to make a profit then so be it (you wouldn?t do it for free). All I would only ask of the town council is to have a heavy hand in the decision making as to how the buildings will look, and the quality of the work is superior so that the end product will attract the upper echelon. In 5-10 years the PAD will be more desirable than anywhere else in Hudson county if we do it correctly. Inside A and Trump are turning out to be great projects with class A tenants.
Does anyone know how Onyx Equity is doing with 30 Montgomery, I am really excited to see what happens there. Columbus Circle is a great location in NY, if they turn that project into something like that, this town will skyrocket!

This Building must be cursed between the Fire and now the man falling to his death. This is Crazy.

Something needs to be done with our Power House. People need to stop fighting redevelopment with that site. Percrastination will have that site empty and ugly and abosrbing tax money for the next 15-20 years. LETS FIX NOW.

As of right now the power house is an eye soar that is a negative impact on Jersey Cities balance sheet. If we could approve development at this site we can achieve a few things (i) clean up the site (its a beautiful building that currently looks like a crackhouse) (ii) create positive tax revenue (iii) attact people who think negatively about Jersey City as an industrial city to finally see what is happening here. (remember most people outside of hudson county think JC is an industrial land fill).

This is a prime site located between Inside A and Trump, the demographic that will be living within a block of the powerhouse will rival some of the best area's in NJ and parts of NY. (I would love to see what the average purchase price between those two building is, if i had to guess it would be around ($850k)) Lets also remember all these people will be voting as well.

Lets stop fighting development at this site and get something done.

I would personally love to see a Live Performing Arts theater, with a movie theater and restaurants at the power house. I think that would open the eyes to everyone that JC is place to desire. But really i just want to see something there.

Can anyone in JC get Verizon Fios cable or is it just my building that can't?

Cablevison in Hoboken is really good, why can they provide cable in Jersey City?

I think any redevelopment in Downtown is great. Right now downtown is half-pregnant with unlimited upside potential.

We are moving in to JC and our building will have Broad Star cable provider. Does anyone know about the BroadStar?
http://www.broadstarmdu.com/

Has anyone seen what this building is going to look like?

Comcast is the WORST thing to happen to TV. I lived in hoboken before JC and we used CableVison which was 100% better than Comcast.