Renovated park, new condo breathe life into Hamilton Park

New York /
Sep.September 16, 2011 09:12 AM

alternate
text
Hamilton Square condo overlooking Hamilton Park
The reopening of renovated Hamilton Park in New Jersey and the rise of a nearby condominium, has brought a wave of new residents and businesses to the suddenly gentrifying neighborhood, the Wall Street Journal reported.

The Jersey City neighborhood, named after the park, is centered on a five-acre park that opened last year after a $3.2 million renovation. One year prior, a 125-unit condo building named Hamilton Square opened in place of A Hospital Across The Street from the park. Within the past 18 months, almost a dozen new businesses have opened up, primarily on the ground floor of Hamilton Square. People, and especially young families, are following, filling up a historic row of townhouses near the park.

“There weren’t many kids or families,” said Sawyer Smith, sales director at Hamilton Square, which was developed by Jersey City-based brothers Eric and Paul Silverman. “The park was kind of rundown. There was hardly any retail … [but now] you’ve got a lot of families who are staying, renovating their townhouses, as well as more affluent single and younger couples.”

As a result, rents are rising swiftly in the neighborhood, and the clear signs of gentrification abound. A co-op that sells organic and locally-sourced foods opened last year. A flower shop, gym and pediatric office opened this year, and a combination pet-supply store and children’s boutique and a bakery are slated to open in Hamilton Square in the coming weeks. [WSJ]


Related Articles

arrow_forward_ios
Gordon Ramsey and his Lucky Cat restaurant (Lucky Cat)
Gordon Ramsay to open first South Florida restaurant in Miami Beach
Gordon Ramsay to open first South Florida restaurant in Miami Beach
(Image by Wolfgang & Hite via Dezeen)
Hudson Yards megadevelopment inspires a new line of sex toys
Hudson Yards megadevelopment inspires a new line of sex toys
Cammeby's International Group founder Rubin Schron and, from top: 194-05 67th Avenue, 189-15 73rd Avenue and 64-05 186th Lane (Credit: Google Maps)
Ruby Schron lands $500M refi for sprawling Queens apartment portfolio
Ruby Schron lands $500M refi for sprawling Queens apartment portfolio
An image of the mountain (Getty)
Germany’s Zirkelstein “tabletop” mountain hits market for $235K
Germany’s Zirkelstein “tabletop” mountain hits market for $235K
London luxury homes sell at feverish pace
London luxury homes sell at feverish pace
London luxury homes sell at feverish pace
Red Hot Chili Peppers’ Anthony Kiedis asks $10M for Hawaii retreat
Red Hot Chili Peppers’ Anthony Kiedis asks $10M for Hawaii retreat
Red Hot Chili Peppers’ Anthony Kiedis asks $10M for Hawaii retreat
The city claims that an increase in crime is the reason for evicting Mary's Kitchen, but have declined to provide any evidence that the operation led to increased crime in the area (Getty)
This SoCal city is canceling the lease on its only homeless services provider
This SoCal city is canceling the lease on its only homeless services provider
The Florida State Board of architecture’s order to suspend William Friedman for six months
Architect who designed the collapsed Surfside condo was previously suspended after toppling of other structures
Architect who designed the collapsed Surfside condo was previously suspended after toppling of other structures
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...