After years of being Jersey City’s “next” neighborhood to get catch fire, The Heights building boom has officially started to blossom. It’s no wonder why, as condo prices there have gone up 64% since this time last year. But with a revitalization of that magnitude, inclusive housing that allows a diversity of residents access to the neighborhood can play a role in keeping the area’s culture intact.
That’s where Essex-county based Franklin Development Group comes in. The company, whose motto is “Luxury Living for the Middle Class,” has developed several projects in Jersey City over the years, including the Harriet Tubman Homes and the Summit Heights Condominiums at 1201 Summit Avenue. They specialize in homes for purchase, and have developed properties for qualified applicants for prices that are under $200,000.
The company’s latest project is well underway on Summit Avenue between Lincoln and Griffith Streets. The development consolidated several lots at 972-976 Summit Avenue and 43-45 Lincoln Street, gaining approval from the city’s Zoning Board back in February 2015. Five variances were granted to the four-story development, which will consist of 23 condominiums along with 23 parking spaces in a lot behind the building.
Of those 23 condos, eight will be set aside as moderate income units, which are being built partially with dollars from the city’s Affordable Housing Trust Fund. Prices of the units have not been disclosed yet, and Franklin Development did not return a request for comment on the development’s specifics.
Currently, a crane towers over the site and the fourth floor of the building is being put together, which seems to indicate that the project is likely to come online sometime in the first half of next year if all goes smoothly.
Those interested in learning more about the development’s affordable units can apply online at Franklin Development Group’s website for more information or call them at (973) 345-0800 ext.133.