2973 Kennedy Blvd
A massive new development has been proposed for three properties at 2973 John F. Kennedy Boulevard and 96-100 Cottage Street, located at the northwest corner of Kennedy and Cottage. According to a legal notice, the building, which would be located in Ward C’s Journal Square 2060 Redevelopment Area, is slated to be a mixed-use 20-story high-rise tower.
Project plans show that 79 dwelling units are proposed for the building, as are 18,654 square feet of office space, 6,770 square feet of retail space, and ‘resident amenity space’. Sassoon Properties, Inc. and Sasvic Holdings, LLC, which is based out of Alpine Capital Bank’s offices in Manhattan, are proposing the development. “We’re very excited about the project”, said developer David Newton, who said the goal is for the development to be completed within 18 to 24 months.
Although a one-story commercial building containing R.W. Mansfield Charting Service used to stand there, the site, located adjacent to the Apna Bazar Cash and Carry, has consisted of a vacant lot for several years. The Jersey City Planning Board approved the development proposal on November 1st, 2016.
74-76 Cottage Street
Just a few yards away from the site, another development is being planned for the area. Legal notices show that a new eight-story residential building is being proposed for 74-76 Cottage Street, between John F. Kennedy Boulevard and Summit Avenue. Applicant Kasturi Thangri is planning for the building to contain 44 units atop 2,252 square feet of retail space. Currently, two multifamily houses sit at the site, which is located in a largely residential neighborhood across from a Pepboys Auto Service Center. The project was approved on October 18, 2016 by the Jersey City Planning Board.
A transportation, retail, and business hub for all of Hudson County, the entire Journal Square/Five Corners area is rapidly seeing dramatic changes, and is set to be developed even more in the years to come with projects like these and Journal Squared.