True that Beacon is a different market even though it's part of the same city.

In Paulus Hook there are a lot more rental buildings going up. It should be interesting to see if they are as successful as the Madox and how they effect the rental market.

Here are the projects I know of in Paulus Hook and the immediately surrounding area (i.e. south of Montgomery). This list doesn't include the many other projects going on in the rest of the downtown area.

- Almost across the street from the Madox, the Lofts at Van Vorst will have 83 rental units.

- Near Gulls Cove, 18 Park will have 422 rental units.

- The Warren at York will have 139 rental units.

- I'm not sure what the status is of the 99 Hudson tower(s) or if the project will ever break ground. I read that the application was for 1,000 rental units and that it would be the tallest residential building in Jersey City.

- There are also a couple small condo projects in the works in the area

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yea...cause people interested living in paulus hook (top 3 most expensive neighborhood in jc) are also looking to live at the beacon - which is not even downtown jc...

I think it shows how hot the Jersey City rental market overall has become in the last two years. At the Beacon all of the remaining buildings are all being worked on at the same time. All of them will be rentals. When completed there will be something like 1600 or more units.

Pretty impressive considering the building is not right next to the path relative to some of the other rental buildings. It's a 10min walk to the Grove path according to Google Maps.

I think this shows that people really like the Paulus Hook neighborhood.

good

good

Jersey City, N.J.?Madox, the latest upscale rental property from Fields Development Group, is completely leased up. The milestone was reached less than 12 months after the 131-unit luxury apartment property was unveiled.

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