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Average rent in that particular area is much higher then $800. $2k++ I would say.

If a Governor like Cuomo can tout a jobs creation program like his in NY, then a Mayor in NJ can do the same!

http://nypost.com/2015/04/12/governme ... ng-28m-to-create-76-jobs/

Created Jobs are a function of total hours of labor over a period of time. This could be one person over several years of the duration of the job or several different people split over many different short term jobs.

Here is one example on how its calculated for the bailout program:

http://www.justice.gov/recovery/pdfs/jobs-guidance.pdf

Quote:sweetie, of course, the developers will get abatements.....millions and millions

Is the rendering deceptive in that it doesn't show an hotel between the two buildings or is the hotel not located between them?

Did the building get an abatement?

Is it too late to create the neologism 'masterabater' for these big developers? And yes, I deliberately chose the word neologism.

Does a single delivery of building materials count as a 'job'? How did they come up with 1,000 jobs for this project? I've never seen more than about 50 or so construction workers at a site at any given point in time on any of the largest construction projects.

will there be a park

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Ye you are right T-Bird I pasted my posting to it's rightfull thread which is the micro-apartments. Hopefully the webmaster will remove my posting from this thread.

I live at Gulls Cove which is across from 18Park. We were told a few months ago by our HOA that the property next to 18Park would be a hotel and a rental with 2 40-storey towers. Yet to see any renderings. The exact site is the empty lot next to 18Park that also abuts Marin Blvd.

Ohhhh, I did not know that - any renderings floating around T-bird?

Within the "block". Two towers and the hotel will all share the same base, with the hotel between the two towers. The second tower probably is three or four years away. Not sure of the timing on the hotel.

Cool, thanks for clearing it up - so the proposed hotel would be just south of THIS new tower, correct?

It is definitely south of 18 Park. I don't think anything has been approved for the Pest Control site.

Are we certain that this will be south of 18 Park and not east of it (south of St. Peter's football field, between the football field and the marina)?

Does anybody know what is slated for that lot? (where Western Pest Services building is now)

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St. Peter's Street is an unbuilt street that will parallel Marin to the west. It will form the western boundary of this project.

Heights - I think you are in the wrong thread (the micro-units, maybe?) Nothing in this building will be $1,800 per unit. Studios will likely be north of $2,500.

$1800 seems kind of high for "affordable" the average rent in Jersey City is hovering over a grand if not less. I would think $800 would be the better number. Perhaps it is the market value for the neighborhood income.

If you plan on beginning construction this month it seems to me that the abatement is a given or you plan to go ahead with or without the abatement. I thought the policy was to save the abatements as incentives to build outside the waterfront/dtjc area.

It will be on the empty lot just south of, and immediately adjacent to, 18 Park. It's probably one of those streets that is yet to be built and mapped in the LNH development area.

Where is 'Saint Peter's Street'?

The only place I can think of there that would fit a tower is between the light rail and the end of the harbor, just south of the football field.

EDIT: Never mind, it has to be on the other side of Marin. There's apparently a street there called Park. Still not sure what Saint Peter's street is.

$141M residential tower planned for Jersey City waterfront; developer seeking tax abatement

By Joshua Burd - NJBIZ
September 9, 2014 at 10:45 AM

A developer is proposing to build a $141 million, 44-story residential tower in the Liberty Harbor North section of Jersey City's waterfront, according to filings with city officials.

The firm, identified in documents as LHN Owner Urban Renewal LLC, is seeking approval for a 10-year tax abatement for the project and is scheduled to appear Tuesday before the City Council. Late last month, council members unanimously approved the project on first reading.

A memorandum on the proposal says the applicant estimates beginning construction this month, with completion coming within two years. If approved, the project would produce an estimated 400 construction jobs and 20 permanent jobs, according to documents posted on Jersey City?s municipal website.

The proposal calls for a mixed-use project with 448 market-rate residential units, 5,290 square feet of commercial space and 544 parking spaces in the waterfront area just north of Liberty State Park, according to the memorandum. Two hundred of the spaces will be reserved for the use of a future hotel that is not part of the application.

While the builder is identified as LHN Owner Urban Renewal LLC, the filings also identify developer Brian Fisher. His Purchase, N.Y.-based firm has built several other major residential projects along Jersey City?s waterfront, including Crystal Point and Liberty Towers.

The project is known as 33 Park Ave. and would sit on what is now vacant land between Marin Boulevard and Saint Peter?s Street, according to the city filings.

Under the proposed tax abatement, LHN Owner Urban Renewal LLC would pay about $1.6 million, or 10 percent of the property?s annual gross revenue, for the first six years. The developer would also pay a $31,200 yearly administration fee and about $78,000 to Hudson County during that time.

In the seventh year, the payment would be the greater of 10 percent of the annual gross revenue or 20 percent of conventional taxes, with a phase-in that would bring the payment up to about $2.8 million by the 10th year, according to the memo.

The developer also plans to dedicate portions of the land for the widening of Park Avenue and Marin Boulevard, among other improvements totaling about $3 million.

The project, which received site plan approval from the city planning board in January, is located in the Liberty Harbor North Redevelopment Plan Area.

http://www.njbiz.com/article/20140909 ... per-seeking-tax-abatement