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Developer building another 515 units in Jersey City, in $30M deal

Grand Jersey Group in contract for a once-contaminated site

Developer Swamping Jersey City With Another 515 Units
Renderings of planned 515-unit project in Jersey City from Grand Jersey Group LLC (Getty, MHS Architecture)

In the rush to build housing in Jersey City, developers are scrambling for sites — even ones that were once contaminated.

The Grand Jersey Group is looking to build a 515-unit project along Monmouth Street near Grand Street in Jersey City, Real Estate NJ reported. The firm, led by Vincent Garcia, is under contract to purchase the property from the Jersey City Redevelopment Authority; the developer aims to close a $30 million deal next month.

That would pave the way for a massive project near the Jersey City Medical Center. Across five acres, the developer wants to build two interconnected buildings, one which will rise 26 stories and one of which will be one story shorter.

The development would include 172,000 square feet of office space, 38,000 square feet of retail space on the ground floor, a 720-spot parking garage and rooftop amenities for residents. MHS Architecture is designing the project.

In addition to excavating and capping the property, Grand Jersey Group also plans to bring utilities and sidewalks to the site’s surrounding area.

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Until the mid-1980s, the property was used for unpermitted landfilling operations, according to the U.S. Environmental Protection Agency. The site was erroneously labeled with the “landfill” designation in 2012, a distinction that was recently removed. Over a decade ago, the JCRA completed a multimillion-dollar remediation of the site.

The development is part of the larger Grand Jersey Redevelopment Plan, which comprises 38 acres split between four districts. Grand Jersey Group’s proposal can be built as-of-right.

Multifamily developments are in vogue throughout Jersey City. Last week, a Lakewood-based developer purchased 1.3 acres in the West Side neighborhood to build 365 apartments in a 300,000-square-foot project, which will include 1,600 square feet of retail.

Onkar Singh’s GN Management recently landed a $70 million construction loan from Northwind Group for a 29-story, 209-unit rental building in Journal Square.

— Holden Walter-Warner

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