Parcels throughout Journal Square are continuing to be eyed by local and regional developers as demand for this part of town continues to rise. From the high-rises at Journal Squared to smaller infill developments on residential blocks, projects of all shapes and sizes are continuing to be proposed on the streets within walking distance of the Journal Square Transportation Center’s PATH station.
Now, just a few minutes away from the terminal, a new all-residential development is planned for 253 Academy Street and 101 Tuers Avenue in Ward C. According to City records, the developer, Moxie Holdings, LLC, is seeking to construct a five-story building with 81 units. Few additional details regarding the project are available, but what is known is that the company has been seeking Preliminary and Final Major Site Plan approval with deviations for height, maximum shape factor, and having a minimum of 2% of the units be designated as three-bedroom dwellings.
The properties, located across from the Martin Luther King Jr. School #11, are owned by the Fazari family from Westfield, Union County, according to NJ Parcels records. They contain two houses, one of which has been used in recent years by the neurology practice of Dr. Amir Hanna and the law office of Paul Condon.
A listing posted earlier this year on LoopNet advertised that “this property offers developers the rare opportunity to purchase a development site in one of the most emerging markets of Jersey City that is gentrifying at a rapid pace,” describing that both buildings were fully occupied on month-to-month leases.
This item is on the agenda for the Jersey City Planning Board’s meeting on September 12th.
