A newly proposed development project could dramatically change Jersey City’s West Side should the complex end up coming to fruition.
Four high-rise towers are envisioned for a group of properties near Route 440, including 58 and 80 Water Street, 39 Mallory Avenue, and 244 Culver Avenue, according to a pending Jersey City Redevelopment Agency (JCRA) resolution.
The document says that this project by a firm called Route 440 Developers, LLC would be developed in three phases and that the company already owns five of the six parcels that are the subject of the plan. Route 440 Developers, LLC is listed as being “under contract to purchase” the remaining lot.
The first phase would reportedly include a 30-story building at 80 Water Street that would be made up of either 473 or 492 residential units along with 11,600 square feet of retail space. This phase, which had been the subject of a withdrawn JCRA resolution in May, also involves reserving land for the Hudson-Bergen Light Rail’s expansion to the upcoming Bayfront complex across Route 440.
The second phase would be the development’s largest, consisting of a building with a 38-story tower and a 55-story tower, according to the resolution. This building would bring 1,567 units and nearly 132,000 square feet of retail space to the area.
A 55-story building would make up the final phase, bringing 1,039 units and 7,000 square feet of retail space with it.
Nearly 2,000 “automated” vehicle parking spaces and five large bicycle storage rooms would be included throughout the complex, which would likely be the tallest development in Jersey City outside of Ward E and Journal Square.
The resolution notes that the JCRA is seeking to negotiate a redevelopment agreement and launch a funding agreement with Route 440 Developers, LLC. If approved, the resolution would formally designate the company as the redeveloper of these premises, which include the old Fry’s Metals site.
The JCRA Board of Commissioners is scheduled to vote on this matter during a virtual meeting on Tuesday, June 15, at 6:00 p.m. This all comes after several of these tracts were sold earlier this year for $25.5 million, according to CBRE.
As Jersey Digs has reported, in addition to Bayfront, this section of the Route 440 corridor has seen numerous smaller development proposals over the last few years that differ significantly from the houses, strip malls, automotive businesses, and industrial operations that have long been found in the area. Some of these projects, such as The Agnes, have already been built, while others like the eight-story building planned for the old Colonette Restaurant site were announced relatively recently.
Note to readers: The dates that matters are scheduled to be discussed by the Jersey City Redevelopment Agency and other bodies are subject to change.