New York Construction Report staff writer
A development group will dedicate 35% of its Jersey City Bayfront project to affordable housing under the first redevelopment agreement (RDA) for the massive Hackensack River waterfront mixed-use project, officials announced Wednesday.
The Jersey City Redevelopment Agency (JCRA) approved the RDA with Bayfront Development Partners LLC for six-story building with multifunctional retail space, job prioritization for local residents, green infrastructure, flood mitigation, and other community-driven amenities along the Hackensack River Waterfront that best serve the residents of Jersey City.
“This marks a major milestone as we successfully move forward with the Bayfront redevelopment project, which has already triggered interest, investment, and revitalization within the City’s Greenville and West Side neighborhoods,” said Mayor Fulop. “The transformation of the formerly contaminated site into the largest mixed-income community in the region serves as a model for sustainable and affordable mixed-income development.
“To take it a step further, throughout the redevelopment process, we require job prioritization for local residents during and after construction, public access along the Hackensack River Waterfront, and flood mitigation infrastructure, among other key elements to ensure our community benefits most.”
The first building, Bayfront Promenade, will be six stories with 209 units – 35% for households at 60% AMI and below.
“We are seeing incredible progress as we transform the 100 acres of underutilized and remediated land into a welcoming and affordable community along the Hackensack River Waterfront,” said JCRA Executive Director Diana Jeffrey.
“This RDA approval comes after a vigorous vetting process in which the city hosted numerous public meetings to ensure the entire community is part of the decision-making process, maintaining transparency and incorporating residents’ input.”
Jersey City acquired the 100-acre property from Honeywell Corporation in 2018 with a goal of increasing on-site affordable housing requirements from 5 to 35% with the city controlling the property. The agreement, passed by the city council, bonded $170 million to purchase the land and build the necessary infrastructure on the property.
Bayfront Development Partners, a joint venture between developers Pennrose LLC and Omni America LLC, has agreed to meet the demands to build affordable housing and other community-driven requirements.
The Bayfront Promenade building will also house nearly 10,000 sq. ft. of community facility space and a wide array of amenities, such as an expansive outdoor terrace with grilling stations, a community lounge with a kitchen, a co-working lounge/media room, a fitness center, yoga room, a dog wash, and bike storage.
“Omni is delighted to move forward with Pennrose and our local and state partners on this transformational mixed-use, mixed-income project that will serve as a model for future public-private partnerships in New Jersey and beyond. We look forward to making Bayfront Promenade a vibrant, community-oriented development that enhances quality of life for all,” David Fleming, Omni America LLC’s executive director of development, said in a statement.
The first Bayfront building will incorporate sustainable and green building practices to achieve Enterprise Green Communities and Energy Star certification while using LEED measures, certifying the development of quality affordable housing making for a healthier, socially responsible, and sustainable place for hundreds of families to live.