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and community! these fellas live in Montclair, and seem to care about JC more than most natives do.

I know! It's rare to find developers with a sense of scale and context (especially in New Jersey!)

I really like these guys. Imagine if the Silverman brothers had gotten their hands on the PAD. Who knows? It might actually still be an arts district.

Silverman brothers' latest creations: two upscale Jersey City buildings

By Jonathan Lin/The Jersey Journal
August 01, 2014 at 10:05 AM

The same brothers who brought you Hamilton Square, Schroeder Lofts and The Majestic in Downtown Jersey City are developing two new upscale buildings: Charles & Co. and Two Ten 9th Street.

While construction crews continued to hammer away, Paul and Eric Silverman's development company, SILVERMAN, recently gave The Jersey Journal a tour of these two new mixed-use properties.

Built on one-fourth of an acre of what was formerly a parking lot, Two Ten 9th Street, purposely branded with "210" spelled out, is slated to have commercial space on the ground floor and 25 apartments on its upper floors.

It's still at the skeletal stage, but the outlines for spacious apartments, walk-in closets and a terrace for units at the rear of the second floor are clearly visible.

Headed for completion by the end of the year, the project will offer units at rental prices starting at $1,400. The building will contain a total of 15,000 square feet of residential space and 4,000 square feet of commercial space.

Charles & Co., built on three-fourths of an acre of what used to be a parking lot at 272 Grove St. near Jersey City's city hall, is a larger project than Two Ten, and is slated to feature ground-floor retail shops, second floor office space and apartments on its five upper floors.

The project, which is expected to be completed sometime next year, will have 99 apartment units making up 100,000 square feet of residential space as well as 10,000 square feet of commercial space. The parking spaces in the building have not yet been finalized but will number about 50.

Rents at 272 Grove St., originally named Majestic II, will be market rate, according to the Silvermans. The Jersey Journal has previously reported that studios will rent for around $2,000 while three-bedrooms will go for $3,800.

CoolVines, a boutique wine and craft beers store that is currently located across the street from Charles & Co., is slated to move into the building and become one of the retail shops on the ground floor.

When a 20-year tax abatement for Charles & Co. was amended last December in light of all of its units being converted from condos to apartments, Jersey City officials delayed adopting it, asking for higher payments in lieu of taxes.

The term of the final deal was whittled down to 10 years with the city set to collect $402,960 in PILOT payments per year.

Under a conventional property tax system, the city would've only retained $331,960 of Charles & Co.'s taxes per year, city spokeswoman Jennifer Morrill said. In 2012, the same property, formerly a parking lot, paid only $146,000 into the city's coffers, she said.

http://www.nj.com/hudson/index.ssf/20 ... ey_city_developments.html