In yet another sign of the robust rental market in Jersey City, Mill Rocks touts 50% occupancy since launching leasing a month ago.
The new rental project at 361 Newark Avenue, sits on the last developable lot before heading up the hill towards Journal Square. Not so long ago, this area was considered too far from the PATH to attract the new wave of downtown residents. That, however, has quickly changed as downtown continues to develop.
With new retail shops and restaurants moving into the area, it’s now clear that even the westernmost pockets of downtown are seeing a robust demand for housing.
Within a few blocks of Mill Rocks, there are at least five development sites in various stages of completion. The Village is in the midst of a major transformation. This influx of new residents will lead to even more retail options, further increasing its desirability.
What’s more, as Journal Square development expands, eventually along the Newark Avenue corridor, there will soon be a direct connection between the two neighborhoods. As development moves up the hill from downtown, and down the hill from Journal Square. Ultimately creating a fluid connection between the two neighborhoods without the stark demarcation that’s existed for years.
At a ribbon cutting ceremony last Friday, Mayor Fulop touched on these changes and what they mean for the future of Jersey City. He also praised the developers on the project, Santomauro General Contracting and Point Capital Development, for being local Jersey City residents. “It’s great to see local Jersey City residents creating housing and opportunities right here in Jersey City,” the Mayor said.
If you’re in the market for a new apartment home but don’t want to pay downtown prices, Mill Rocks offers a great alternative. Open Houses are being held at Mill Rocks every Wednesday from 5-7pm and Saturdays from 1-3pm.
One-bedrooms start at $1,850 and average around 650 square feet. Two-bedrooms come in around 1,000 square feet and start at $2,800. Due to the unique shape of the building, there are various floor plans from which to choose.
Visit MillRocks-JerseyCity.com for more information.
Read more about Mill Rocks here: Hip, Modern Apartments Begin Leasing this Weekend in the Village
