A fifty-year effort to cleanup up contaminated land in Jersey City’s Bergen-Lafayette neighborhood is slated to end with the construction of new residences that include affordable housing, new retail, and park space.
Jersey City’s Council recently gave final approval to the financial agreement for the Canal Crossing Project, which clears the way for 508 new homes to rise near the Garfield Avenue Light Rail Station. The plan includes 102 truly affordable homes, with some slated to have rents of $1,000 and under.
The development does come with a price. The Council approved a 30-year Payment in Lieu of Taxes (PILOT) agreement for the land, meaning it won’t pay as high a rate when developed as it would have without the agreement. However, the city says the project is projected to generate about $1.9 million in taxes during its first year of operations compared to the roughly $65,000 in taxes it pays today.
The agreement also directs 10% of its PILOT revenue to the Jersey City Board of Education to fund local schools. The plan is the first housing agreement fully negotiated under Mayor James Solomon’s ‘Building for Working Families’ agenda.
“Jersey City residents fought for decades to reclaim this land, and tonight we delivered on their promise,” said Mayor James Solomon. “Canal Crossing is what it looks like when development works for the people who live here: affordable homes for families, good union jobs, and a brand-new park, all built on land that sat empty for generations. This is how we build a Jersey City working people can afford to stay in.”
Jersey Digs first reported on the first round of approvals for the property back in April and then expanded on those plans in June. Boraie Development is pursuing the entire Canal Crossing effort.
The first building at 900 Garfield Avenue was designed by Beyer Blinder Belle and is slated to rise 10 stories and include 293 residential units. 59 of those living spaces will be designated as affordable housing, with the total unit breakdown consisting of 39 studios, 160 one-bedrooms, 80 two-bedrooms, and 15 three-bedroom homes.
The first phase of the Canal Crossing endeavor will include 11,426 square feet of ground-floor retail space split between three storefronts, plus 212 parking spaces for cars.
The second portion of Canal Crossing will consist of a six-story mixed-use residential building with 215 units, again including a 20% affordable housing component. The breakdown of units in the second phase includes 16 studios, 116 one-bedrooms, 73 two-bedrooms, and 10 three-bedrooms.
68 parking spaces and a ground-floor commercial space spanning 6,900 square feet will also be featured.
Jersey City touted many of the perks of the project after it was approved. The developments will be built under a 100% union labor agreement, with prevailing wages for building service workers. A new 33,000-square-foot park will be built by the developer as part of the deal.
The Canal Crossing site was used for heavy industry and left contaminated with chromium for many years, with residents and community groups fighting for decades to see it cleaned up. With remediation now meeting the State’s strictest standards, the city is hopeful that the first move-ins at the completed development could happen in around two years.
Boraie Development has further phases planned to the east of the initial portions. The company had initially proposed up to 1,200 units at their Canal Crossing sites, but it’s unclear if those plans have been adjusted since their initial proposal in 2021.
