The landscape of Downtown Jersey City will be getting yet another crane at a property just a block from the Hudson River as the second phase of an ambitious project has secured financing and will break ground soon.
Tishman Speyer announced that it has secured full construction financing for 50 Hudson Street, the second of a two-tower development that will bring new rental apartments, activated public outdoor spaces and retail amenities to Jersey City’s waterfront. The development is the second portion of lots at 50 and 55 Hudson Street that were previously used for parking.
The pair of high-rises will add almost 2,000 units and significant retail space along two of the last undeveloped blocks of Jersey City’s waterfront. Jersey Digs was the first news outlet to publish renderings of the project when it was approved in 2022, with construction on the first phase beginning just about a year later.
Already well underway, the first phase at 55 Hudson Street will rise 637 feet at its tallest point and sport a six-story podium base. The initial 58-story portion consists of 1,017 dwelling units, approximately 60,000 square feet of new street-level retail, and 75,000 square feet of indoor and outdoor resident amenities.
With 55 Hudson expected to open in early 2027, Tishman Speyer has turned their attention to the second phase across the street. Currently an underground parking facility, the 50 Hudson Street portion will reuse the existing 467-space garage while adding a 42-story tower with a two-story podium that tops out at 476 feet.
The 924 units in the second portion are planned to skew smaller, breaking down as 259 studios, 444 one-bedrooms, 221 two-bedrooms. The development of 50 Hudson Street will expand the existing retail and seating area along Morris Street by about an acre and include another 10,000 square feet of storefront space.
After closing on a $331-million construction loan led by global investment group CDPQ, Tishman Speyer expects to commence construction on 50 Hudson Street this spring. The entirety of work on the two towers is anticipated to be completed in 2028.
“50 and 55 Hudson are designed to complement and enhance the Jersey waterfront, bringing new homes, additional shops, and activated public outdoor spaces for the entire community to enjoy,” said Tishman Speyer Senior Managing Director Erik Rose in a statement.
Tishman Speyer collaborated with a world-class architectural and design team including Handel Architects, MHS Architects, landscape architects Hollander Design and Melillo Bauer Carman and interior designer Michaelis Boyd on the project.
A joint venture between Noble Construction and Hunter Roberts will serve as the General Contractor for the 50 Hudson Street portion of the development.
