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Re: Harborside Development Receives $33 Million Tax Credit
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caj11 wrote:
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Prismatic wrote:
If they want to build something that ugly they shouldn't be receiving any abatements.


Nor should anybody else building properties on the Jersey City waterfront, even if the properties look pretty... plenty of private developers could build without any tax abatements and still make loads of money. Of course, this has already been discussed a hundred times, both her and in city council meetings (both under Healy and Fulop) but of course all the protests just fall on deaf ears.


This was not an abatement. I believe this is a state tax break, not a city one. The city doesn't control what the state does.

Posted on: 2013/10/27 21:31
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Re: Harborside Development Receives $33 Million Tax Credit
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Prismatic wrote:
If they want to build something that ugly they shouldn't be receiving any abatements.


Nor should anybody else building properties on the Jersey City waterfront, even if the properties look pretty... plenty of private developers could build without any tax abatements and still make loads of money. Of course, this has already been discussed a hundred times, both her and in city council meetings (both under Healy and Fulop) but of course all the protests just fall on deaf ears.

Posted on: 2013/10/27 21:12
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Re: Harborside Development Receives $33 Million Tax Credit
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fat-ass-bike wrote:
... if I improve / redevelop / extend my home can I get a tax abatement too ?


Actually, yes.

Posted on: 2013/10/27 21:06
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Re: Harborside Development Receives $33 Million Tax Credit
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That is seriously one of the ugliest designs I've ever seen.

Posted on: 2013/10/27 17:03
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Re: Harborside Development Receives $33 Million Tax Credit
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If they want to build something that ugly they shouldn't be receiving any abatements.

Posted on: 2013/10/27 16:36
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Re: Harborside Development Receives $33 Million Tax Credit
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Here is a link to our post on this project from back in July if you are interested in the plans for the project. Thanks

Harborside URL link

Posted on: 2013/10/27 16:26
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Re: Harborside Development Receives $33 Million Tax Credit
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tictaktoe wrote:
Is this the proposed 'pile of books' tower?


I believe so, yes. There are three towers, but they all look like piles of books.

Posted on: 2013/10/27 16:17
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Re: Harborside Development Receives $33 Million Tax Credit
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Is this the proposed 'pile of books' tower?

Posted on: 2013/10/27 12:35
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Re: Harborside Development Receives $33 Million Tax Credit
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If the developers can't pay the taxes, then they shouldn't be given a break to build and the city should leave the parcel of land as a green space for a developer that can pay the taxes like the rest of us ... if I improve / redevelop / extend my home can I get a tax abatement too ?

Posted on: 2013/10/26 16:58
My humor is for the silent blue collar majority - If my posts offend, slander or you deem inappropriate and seek deletion, contact the webmaster for jurisdiction.
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Re: Harborside Development Receives $33 Million Tax Credit
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What sort of infrastructure improvements or green space are the developers associated with this project going to provide for the city in quid pro quo for this project?

This does not sound like an attractive project in my opinion.

Soon enough Jersey City will be as dense as Hong Kong.


Posted on: 2013/10/26 15:47
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Re: Harborside Development Receives $33 Million Tax Credit
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Hersh was quoted in an article when this project was first announced as having stated that the project would not seek any sort of tax incentives. Well, I guess they were able to sneak their hands around a big pot of taxpayer dollars afterall.

Posted on: 2013/10/25 18:44
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Mack-Cali URL three 69 story towers at Harborside
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Mack Cali Realty Corp : Ironstate Development and Mack-Cali’s Harborside Development Receives $33 Million Tax Credit from the NJEDA

Hoboken, New Jersey-October 24, 2013-Ironstate Development Company and Mack-Cali Realty Corporation (NYSE: CLI) announced today that their URL™ Harborside mixed-use development in Jersey City has been awarded $33 million in tax credits from the New Jersey Economic Development Authority (NJEDA).

The $291 million development, the first phase of a project that will feature three residential towers along the Jersey City waterfront, was chosen under a competitive solicitation by the NJEDA as part of its efforts to encourage significant redevelopment in urban centers and to support diverse business expansion and retention in the garden state. The award is consistent with the recently signed New Jersey Economic Opportunity Act of 2013. The project is expected to create approximately 700 construction jobs.

"A development of this magnitude will increase the level of economic activity in one of New Jersey's key urban centers," said David Barry, President of Ironstate Development Company. "This will be a transformative project that will introduce an innovative new lifestyle alternative to the marketplace and help encourage additional investment in the City."

The joint-venture partners will break ground later this year on URL™ Harborside (Urban Ready Living™), a multi-phase development that will ultimately include three residential rental towers, ancillary retail space, and parking. It will add a vibrant housing component to Jersey City's Harborside, Mack-Cali's waterfront "city within a city" office complex. The first phase of the project will consist of a 69-story tower with 763 apartment units built on a parking pedestal.

The innovative design of URL™ Harborside allows for tremendous living density in a small footprint. Residents will enjoy contemporary living spaces, on-site amenities, breathtaking Manhattan skyline views and convenient access to adjacent mass-transit options.

"Being awarded the NJEDA tax credit is an important step toward developing Harborside to its full potential," said Mitchell E. Hersh, President and Chief Executive Officer of Mack-Cali. "The URL™ Harborside project is consistent with our growth strategy of pursuing multi-family residential development opportunities in supply constrained markets. This furthers our creation of a true Work-Live-Play environment at Harborside."



Posted on: 2013/10/25 12:45

Edited by Webmaster on 2015/7/25 0:18:16
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