A sizable mixed-use development that is in the works for a Jersey City neighborhood is now slated to include more than 100 residential units on top of what was originally expected.
The 10-story “Monticello Triangle” project in McGinley Square is now set to contain around 304 residential units, according to a new Jersey City Redevelopment Agency (JCRA) resolution. These development plans also call for parking, retail space, and a public plaza.
The resolution, which was adopted during the August 17 meeting of the JCRA Board of Commissioners, formally designated Monticello Equity Properties, LLC as the developer of the project site at 4-12 Fairview Avenue, 221-227 Fairmount Avenue, and 220-238 Monticello Avenue. It also allowed for a funding agreement between the JCRA and the LLC to proceed.
Jersey Digs first reported on the plans for Monticello Triangle back in 2018. At the time, the residential portion of this development was anticipated to consist of 199 units, according to Marchetto Higgins Stieve.
The properties in question were once home to several buildings, ranging from an apartment building to structures containing local businesses. However, the entire triangle became vacant after demolition took place several years ago.