The Citys View On Development
Jersey Citys renaissance along the waterfront has seen the states biggest developers involved in large-scale high-rise construction projects. And as discussed at the recent Jersey City Summit, and reported by NJBIZ, the city plans to continue development of downtown as an alternative to nearby Manhattan.
For its part, the city not only wants to attract would-be New York City commuters, but has also identified its longtime residents and affordable housing as a significant part of its administrative agenda.
Developers should be approaching purchases and investment in projects with the understanding that Jersey City will require affordable housing or a substantial public benefit, said Deputy Mayor Marcos Vigil. It would be wise to explore the surrounding neighborhood, study the existing market conditions and connect with residents who already live there to understand their concerns.
On a recent ride-along of the city with Vigil, his passion for Jersey City was evident as he pointed out numerous building projects west of downtown.
Jersey City is more than the Hudson River waterfront or downtown, and the administration will give thoughtful consideration to incentivize the right type of project within emerging neighborhoods, stated Vigil. We expect to see more opportunities arise offering a variety of residential and commercial products at a more reasonable price than what is available along the Hudson waterfront.
The Grind At The Baker Building
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Jersey City’s Renaissance Is Easily Seen Along The Waterfront But It’s In Neighborhoods Like Bergen
By: John ParkinsonDecember 4, 20173:00 am
The vantage point from developer John D. Fio Ritos office inside the Baker Building is indicative of Jersey Citys growth.
The Baker Building is an 83-unit residential apartment complex in the Bergen-Lafayette neighborhood, and Fio Rito, principal of Point Capital Development in Jersey City, took a real chance in developing on this particular site.
For starters, it was a former paint factory, with trash strewn about it, graffiti, and broken windows. Then there was a fire that caused significant damage. As part of the remediation there was a large heating oil tank and six smaller gas tanks that had to be disposed of. Fortunately, there wasnt any soil contamination.
Across the street from his building is a dilapidated factory that used to process food additives. Up the street are older, row homes, and behind Baker are train tracks.
To many developers this might not be an ideal site to remediate and construct. Fio Rito ended up spending $19.85 million on the entire project. And while he pointed out that cost is almost always the primary acquisition criteria in these types of projects, there are also other factors he considers, including physical boundaries, competition, proximity to public transportation and gauging how the local community might respond to a new development.
The previous structure was a textbook example of urban blight, and I thought my project would be well received by the community, stated Fio Rito.
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The Baker Building May Be One Of The Best Values In Jersey City Right Now
This post is sponsored by: The Baker Building a premier rental building in the Bergen-Lafayette neighborhood of Jersey City. It opens for leasing on Saturday, April 2nd 2016.
When the Baker Building broke ground less than a year ago, Mayor Fulop praised the new project as a major indicator of his commitment to bringing development to areas outside of the waterfront. It was the largest project to break ground in Ward F in many years. Well, now its time to celebrate the opening of the new building, as it readies for its grand opening on Saturday, April 2nd.
The new 83-unit rental building, at 234 Suydam Ave, is conveniently located between the Liberty State Park Light Rail Station and the Pacific Avenue retail corridor. Its name pays homage to the Baker Coating Factory that operated at the site from 1880 until it closed in 2001. The new building was designed by C+C Architecture.
Developed by Point Capital Development and constructed by Fields Construction, the new building can hold its own against most new downtown buildings both in amenities and quality. Its common areas were designed by Anthony Carrino and the model units were staged by Craig Wroe Interiors. Kitchens have been outfitted with modern high-gloss white cabinets, gray quartz countertops and stainless steel appliances. Theve also integrated technologies to make your life easier like keyless door fobs and a video intercom system controlled via your smartphone called ButterflyMX.
The Baker Building On The Web
The Baker Building 234 Suydam Ave Jersey City NJ 07304. 3 Reviews 522-9125 Website. Menu & Reservations Make Reservations . Order Online Tickets …
https://www.mapquest.com/us/new-jersey/the-baker-building-375154273
Phone number 522-9125 Business website bakerbuilding-jerseycity.com … Yelp users haven’t asked any questions yet about The Baker Building.
https://www.yelp.com/biz/the-baker-building-jersey-city-2
Explore apartments for rent in Baker Building, 234 Suydam Ave, Jersey City, NJ 07304, USA. View pictures, floorplans, and amenities on Zumper.
https://www.zumper.com/apartment-buildings/p179677/baker-building-liberty-state-park-jersey-city-nj
bakers New York, NY. Showing 1-10 of 2524 … The Baker Building. 3 reviews. Apartments 522-9125. 234 Suydam Ave
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