Over a year after Jersey Digs broke the news that additional development could be coming to properties that are situated adjacent to the existing Port Liberté condominiums in Jersey City, it appears that plans to bring new apartments and townhouses to the area are advancing.
The Jersey City Redevelopment Agency’s (JCRA) Board of Commissioners approved two resolutions during its October 15 meeting in connection with Toll Brothers’ proposals for three currently undeveloped tracts off of Chapel Avenue near Freedom Way.
Both resolutions state that Toll Brothers, which is based in a suburb of Philadelphia, has entered into an agreement of sale with the New Liberty Residential Urban Renewal Company in order to buy all three properties, though the purchase price is not listed.
The resolution involving 1 Constellation Place and an adjacent tract mentions those properties are where a five-story building with 400 “market rate rental units” and a parking garage are being proposed. Meanwhile, the other resolution pertaining to 200 Chapel Avenue states that a complex consisting of 69 four-story “market rate ‘for sale’ townhouses” is in the works for that tract.
Although the New Liberty Residential Urban Renewal Company is the officially designated developer of the lots, as the new owner, Toll Brothers would transfer those designations to its TB Port Liberte and Toll NJ I affiliates.
As part of the two resolutions, Toll Brothers is expected to work with the JCRA on “pre-development activities,” the negotiation of a redevelopment agreement, and the execution of a funding agreement.
In its most recent corporate profile, Toll Brothers mentioned future plans for 402 apartments at Port Liberté. The company, which is responsible for local projects such as 10 Provost Street, The Morgan at Provost Square, and 1425 Hudson Street at Hudson Tea, previously referred to a proposal for 284 units at Port Liberté in a 2018 corporate profile.