Jersey City continues to be home to many of New Jersey’s tallest buildings, with the highest towers clustered around the Hudson River waterfront. However, additional tall structures are starting to be proposed for neighborhoods that are farther inland. Now, a new 16-story mixed-use building called “The Rise” is expected to overlook Wards B, C, and F.
This latest development will be constructed in the McGinley Square neighborhood at 711 Montgomery Street, at the southwest corner of Jordan Avenue. The tract currently contains a private parking lot. When completed, according to GRID Real Estate, the upper levels of the project will consist of 272 residential rental units, including 103 studios, 137 one-bedrooms, 26 two-bedrooms, and six 3-bedrooms. Meanwhile, the ground floor is set to include around 5,000 square feet of retail space.
“I think that 711 will have the same impact on McGinley Square that Journal Squared had on Journal Square,” said Robert Antonicello of GRID.
Antonicello told Jersey Digs that the development will be the “first fully amenitized building in McGinley Square” and will include a gym, a community room, parking, a rooftop for residents, and more. He expects that a third of the units will be lived in by existing residents of the neighborhood, a third will be occupied by people relocating from other parts of Jersey City, and the final third will attract people from outside the city limits.
Mercer Jordan, LLC, which is owned by Brooklyn-based Sequoia Development Group, is behind this project along with the upcoming 16-story tower at the corner of Jordan Avenue and Mercer Street. Marchetto Higgins Stieve of Hoboken is the architect for both buildings.
20% of the units at “The Rise” will be designated as affordable housing, according to GRID’s Bobby Antonicello, Jr. Construction is expected to begin by the end of 2018 and last for approximately 16 months.
