Voyeur wrote:
This entire discussion that wealthy Chinese buyers will snap up units in this building is based solely on the fact that a company called China Construction America is the developer?

Seems a pretty spurious premise, given that a brief look at their company website shows that the firm is involved in construction all all kinds, residential, commercial, transportation and educational all over the US and Canada.

Say, maybe they can build that badly needed new DTJC public school while they're at it? Or is it already oversubscribed with Chinese students?

Also, how would CCA have successful sold the entire building to prospective buyers in China when the project is still pending planning board and city council approval? Whoever claimed they had intel from family back in China is full of it.

This building will fill up with the same NYC exiles and NJ natives that filled up 77 Hudson next door - Americans with a smattering of Eurotrash thrown in...

asny10011 wrote:
Perhaps they may offer it as a EB5 visa program so investors can loan some money to build it and get citizenship at the same time. US immigration program is pretty cheap at 500K. It is relatively cheap compared to other countries who offer their citizenship for sale.

JGJDNYCJC wrote: I suspect this building will become an investment property destination for Chinese folks looking to park money offshore and NYC-area realty is considered better than t-bills risk-wise. Doubtful therefore that public schools will see much extra play, although I do agree that we should extract more funding to either build more or expand existing facilities. I know LHN is supposed to get a new elementary school once fully built out. Parking, I'm not concerned about. Not everyone in DT wants to own a car. There are plenty of private parking options that are reasonably priced and that sit fairly empty.

07310 wrote:
Quote:

jcdd wrote:
MIkeyTCB - mark my words - there will be families moving in to these condos, they will have young children, and yes, there will be a good percentage that will send their kids to PS16. PS16 is generally considered probably the "best" of the public elementary schools in JC. But it already has capacity issues, as does the entirety of the downtown elementary schools. The City needs to do something quickly to deal with this problem. We need new schools built in downtown. The population boom is happening here.

If these condos are priced at the high end as we all suspect. The people who can afford these will not be sending their children to JC public schools. They will be in private schools. I also think that these places will not be the primary residences for most of the owners similar to the high end condos in Manhattan which are not the primary residences of these owners.

jcdd wrote:
MIkeyTCB - mark my words - there will be families moving in to these condos, they will have young children, and yes, there will be a good percentage that will send their kids to PS16. PS16 is generally considered probably the "best" of the public elementary schools in JC. But it already has capacity issues, as does the entirety of the downtown elementary schools. The City needs to do something quickly to deal with this problem. We need new schools built in downtown. The population boom is happening here.

jcdd wrote:
MIkeyTCB - mark my words - there will be families moving in to these condos, they will have young children, and yes, there will be a good percentage that will send their kids to PS16. PS16 is generally considered probably the "best" of the public elementary schools in JC. But it already has capacity issues, as does the entirety of the downtown elementary schools. The City needs to do something quickly to deal with this problem. We need new schools built in downtown. The population boom is happening here.

Sommerman wrote:

My initial reaction to the words "luxury condos" is now ghost towers. These apartments might not even be marketed in the US. For all we know, there is a waiting list for these apartments.

fat-ass-bike wrote:
760 apartments - High density madness when our schools, public transport and general infrastructure can't even cope now.

If 1/3 of these apartments had a visitor in any one time, where are these visitors going to park? The developer should be required to provide no less than 5% of apartments numbers with visitor parking (38 parking bays for visitors). They should also provide an off-street delivery parking area for parcels, food deliveries, taxis and other service providers.

Yvonne wrote:
Knowing JC, we will continue with the abatements with a foreign national.