Developer Buys Jersey City Property for $17M, Plans 600 Units

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400 Claremont Avenue Jersey City Cbre
400 Claremont Avenue, Jersey City. Photo via CBRE.

Back in January, we told you that a 2.73-acre industrial property in Jersey City’s Ward B was put on the market as a potential redevelopment opportunity.

Located near the West Side Avenue Hudson-Bergen Light Rail station at 400 Claremont Avenue, the site, which stretches back to Yale Avenue, was used by companies such as Daniel Products and Synres Chemical Corporation for close to 70 years. Then, in March 2017, property owner Elementis Specialties issued a statement announcing that it would sell its United States colorants business to Chromaflo Technologies and shut down operations in Jersey City.

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Now, the site on Claremont Avenue has changed hands. 400 Claremont Urban Renewal, LLC acquired the premises for $17 million last week, according to a statement from Cole Schotz P.C. The new owner is planning a major mixed-use development, but when asked by Jersey Digs, a Cole Schotz spokesperson declined to identify what company or individual is in charge of the LLC.

However, while the specific identity of the new owner is not yet clear, what is known is what they are planning to do with the property. A five-story building with 600 residential units is on the books. In addition, commercial space would be provided on the first floor of the development and parking would be included on the premises.

“The project is comparable to similar mixed-use complexes in Jersey being developed but one of the first of its kind to come to the West Side of Jersey City,” said the Cole Schotz representative.

The plans have yet to go before the Jersey City Planning Board or the Jersey City Zoning Board of Adjustment. Although this neighborhood has seen several proposals for new residential and mixed-use projects as of late, this building would be the largest new development by far in the immediate area aside from University Place should the plans continue to move forward. It is not yet clear how the units will be priced.

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16 COMMENTS

  1. Great news! It’s appropriate to have intensification here next to the HBLR. There is a large parking lot on the other side of the street. This site should sever as a catalyst for further development in the area.

  2. Let’s begin the count on how many amendments to the plan will be presented by the developer. Yes, the west side needs development but not a redevelopment zone giving developers a money making machine and straining the city’s infrastructure. More trash, more cars, more schools needed, water and sewer, public safety, economic displacement will be happening. Enjoy it like downtown does.

  3. The traffic down there is is insane now. What is it going to be like
    with six hundred new units.maybe two cars a unit.

  4. Where are the affordable & subsidized apts being built,especially for people who worked hard & are disabled…I see nothing for them but projects..

    • Actually a 10 story affordable building being built on fairview between Monticello and Bergen and Bayfront being near by will also have substantial affordable housing… Plus many, many more. They bought it, let them build our beautiful city up… I rather have that, than a closed down factory or whatever it is…

  5. Amazing new! That area is prime location! NJCU housing, more commercial space for an area that is in need off and beautification of our city… Can’t go wrong.

  6. People want to live in our neighborhood. What’s wrong with that? Let’s welcome it. Plus gives housing for the students and others who want to live in a new space in our neighborhood. It’s being built near transportation, for people that pay for that convenience…

  7. I live in the area pictured.
    The entire block was some kind of industrial plant, so something not industrial would be welcomed as this is a residential neighborhood. The thing that I feel is missing most in the “Westside” neighborhood, is public space. Specifically spaces for young children. There are no kiddie parks in the vicinity of the photo. This area of JC is not very family friendly. Also I agree with the traffic concerns but still would rather have the development. I think during week days 7AM – 10AM there should be no parking on Westside Ave between Claremont and Fayette.

  8. I am very happy that this development will take place. The Westside avenue should have a 5+ stories development to bring in residents and commercial.

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