According to legal notices, a developer is planning two four-story buildings at 13 Carbon Place and 35 Carbon Place, just west of West Side Avenue, in the NJCU West Campus Redevelopment Area. Currently, the property is a 1.289-acre vacant lot in a largely residential neighborhood.
The buildings are slated to include 152 market rate residential rental units and 11,903 square feet of retail and commercial space. 16 garage spaces and 23 garage spaces will be provided for residential tenants, a notice shows, adding that KKF Block 1 Urban Renewal, LLC is listed as the project developer. The project will receive a 30-year tax exemption and revenue to Jersey City is supposed to amount to at least $465,115 upon substantial completion. It is supposed to create around 264 new construction jobs and 24 permanent full-time jobs.
Nearby, KKF Block 5B Urban Renewal, LLC, which is based out of a house in Montgomery Township, Somerset County, is planning a four-story building with 149 residential rental units and 151 parking spaces for tenants. A legal notice states that it will rise south of Carbon Place between West Side Avenue and Route 440 at a site that will be known as 33 University Place Boulevard upon completion of the project.
This development will also receive a tax exemption for 30 years. Approximately 296 construction jobs will be created for the project, in addition to five permanent full-time employment positions and one part-time job. The Jersey City Municipal Council passed the proposed tax exemptions on first reading during its meeting on December 14.
These projects have been in the works for the past few years, and were approved by the New Jersey Economic Development Authority and the New Jersey City University Board of Trustees in 2015.
