A development that’s just a stone’s throw from the 45th Street Hudson-Bergen Light Rail Station is already moving forward with its next leg following the project’s initial opening earlier this year.
Jersey City-based KRE Group has revealed that groundbreaking is underway for the second phase of their Bay 151 venture, the firm’s first residential development in the city of Bayonne. The project’s first phase launched leasing operations in May and the company highlighted the initial building’s 85% occupancy rate in their announcement.
“We’re very excited to commence construction of the second phase of Bay 151, which has quickly proven to be one of Bayonne’s most in-demand residential developments,” said Jonathan Kushner, President of KRE Group.
Phase two of Bay 151 will bring a four-story building to the 16-acre property that will offer 213 rental apartments at 151 Centre Street ranging from studio spaces to three-bedroom units near Bayonne’s waterfront peninsula. When completed, the entirety of the three-phase project will total 625 residential units and 10,000 square feet of retail space.
KRE Group anticipates delivering the second phase of Bay 151 during the later stages of 2021.