See the 10 most amazing real estate projects that could change the face of N.J. | NJ.com
People may be leaving New Jersey in droves in recent years, but that hasn’t stopped developers from proposing and building major developments in the country’s most densely populated state.
Developers have not been deterred because while property taxes may also be sky high, the Garden State is also one of the wealthiest states in the nation and has the ultimate pipeline: public transportation with access into the major economic hub of New York City.
A common theme of many of these developments, whether it is a development practically built around a PATH station in Jersey City or one centered around a ferry station, is their access into Manhattan.
But there are also developments scattered throughout nontraditional counties and boroughs that will revitalize their regions and provide more housing and commercial options for residents.
Some of these development are 10 years from being completed, but once these are all topped off, New Jersey will have thousands of new housing units and millions of square feet of commercial and office space that will play a role in the future of the state.
Three towers in Jersey City
As Jersey City development has exploded in recent years, much of it has been centered around the city’s downtown and waterfront — until now. In the spring of 2017, the first phase of a trio of towers opened in the Journal Square neighborhood. They are developed by KRE Group and dubbed Journal Squared.
The first phase is a 54-story tower with 538 units. The other two phases, 71 stories and 63 stories tall, will bring 1,200 more units to the development, with a mix of high-end amenities and commercial space.
The views of Manhattan are certainly a selling point of the development (photo taken from the 53rd floor of phase one), but a key factor is the development’s proximity to the PATH station, which is just steps away.
KRE Group president Jon Kushner has not set a definitive date for when all three towers are set to be complete, but the second phase, which recently broke ground, is scheduled to be finished in 2021.
Asbury Park waterfront redevelopment project
Asbury Park is no longer just the home base of rock legend Bruce Springsteen. No Shore town has seen the level of revitalization as Asbury Park has in recent years. And that is even before the multi-billion dollar redevelopment plan by iStar has been completed.
This content was originally published here.