Tishman Speyer expects to start construction early this month on a 1,017-unit apartment building at 55 Hudson St. in Jersey City, the first piece of a two-building project. — Rendering courtesy: ImageFiction
By Joshua Burd
Tishman Speyer is set to break ground on the first of two new luxury apartment towers that will add nearly 2,000 new apartments in total to Jersey City’s booming waterfront.
The developer on Monday said it has closed on a $300 million construction loan from Otera Capital, paving the way for the initial 1,017-unit building at 55 Hudson St. It expects to start construction early this month, having secured approvals from the city’s planning board late last year, with completion slated for early 2027.
The 58-story structure will house a mix of studio, one-bedroom and two-bedroom homes with sweeping views of New York Harbor, the Paulus Hook neighborhood and the Manhattan skyline, while residents will have access to some 75,000 square feet of indoor and outdoor amenity space. Plans also call for 60,000 square feet of new street-level retail space, with a location that is steps from PATH, Hudson-Bergen Light Rail and commuter ferry service.
“55 Hudson has been designed and programmed to offer the very best in urban living,” said Erik Rose, a Tishman Speyer senior managing director and its head of U.S. residential development. “We are thrilled by this opportunity to work with Otera Capital, Mayor (Steven) Fulop and the local community to further enhance this vibrant waterfront neighborhood to benefit all of its current and future residents.”
The project’s second phase at 50 Hudson will encompass a 48-story residential tower with similar indoor and outdoor amenities, according to a news release. When complete, the full project will have nearly 2,000 new apartments, more than 70,000 square feet of retail space and a roughly 32,000-square-foot waterfront plaza, which will provide a direct connection to Jersey City’s esplanade and will be activated by community events.
Tishman Speyer’s design team includes Handel Architects, MHS Architecture, landscape architects Hollander Design and Melillo Bauer Carman and interior designer Michaelis Boyd. A joint venture between Noble Construction and Hunter Roberts will serve as the general contractor for 55 Hudson, the developer said, noting that each building will be outfitted with Energy Star-certified appliances and seek Fitwel certifications.
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Author: Joshua Burd