Ground was broken Tuesday for two 500-foot skyscrapers, including 1,000 new condominiums and apartments, to rise at 77 Hudson St. near the waterfront.
The new project by K. Hovnanian Homes and Equity Residential is “just another step in the advancement of Jersey City,” said Mayor Jerramiah Healy at the ceremony Tuesday.
The 1.76-acre parcel is located on Hudson and Sussex streets.
Randy Brosseau, a regional vice president at K. Hovnanian, said, “[We want to build] a building that will stand the test of time.”
He added, “There are two words that describe our project best: Luxury and style.”Living in style
One tower will hold 420 condominiums to be sold by K. Hovnanian, and the other will hold 481 apartments operated by Equity Residential.
Equity Residential is expected to rent out the apartments during the winter of 2008, and K. Hovnanian is expected to occupy the condominium building during the spring of 2009.
K. Hovnanian plans to begin selling homes at the property around the end of this year.
The towers of 77 Hudson will be the first Manhattan-style skyscraper in Jersey City, and will feature a curtain wall system, with floor-to-ceiling glass, according to John Cetra of the New York architecture firm Cetra/Ruddy Inc.
Many nontraditional materials will also be used, including terrazzo-like countertops, chiseled marble, and custom-designed cantilevered master bathroom vanities, he said.
The condominiums, 75 percent with Manhattan skyline views, will include approximately 215 one-bedroom units, 144 two-bedroom units, 19 three-bedroom units, and 42 studios.
The apartments will include 132 studios, 209 one-bedrooms, and 140 two-bedroom units.
However, the towers will not only add housing to Jersey City, but also availability of extensive amenities.
The building will have nearly 19,000 square feet of retail space on the ground floor to hold new restaurants and stores, as well as a Spa/Fitness center, and a dramatic hotel-quality lobby. A parking garage will contain 920 spaces for residents.
On top of the 10-story parking garage will be a landscaped deck, connecting the two towers, with a pool and a dog run. K. Hovnanian Homes is one of the nation’s leading home-builders. Equity Residential is the largest publicly traded apartment company in America. Revitalization
The new towers of 77 Hudson will not only benefit the Hudson River Gold Coast, but also the other areas of Jersey City, Healy said.
“Jersey City revitalization began on the Hudson Waterfront about 10 years ago,” he said. “I know that is has spread west to the Hackensack River and also to the northern and southern borders. Originally, there were areas where no one would invest. Now there are five or six bidders on every vacant lot or building anywhere in Jersey City.” Jim Driscoll, the division president of K. Hovnanian, said that the project would be all around beneficial: to the city, new tenants, and the company.
“We can’t foretell the direct effect it will have on the rest of Jersey City, but it is an excitable housing opportunity – affordable luxury living,” Driscoll said.
Mayor Healy said that the construction of 77 Hudson might also inspire other residents in Jersey City.
“Prosperity is contagious,” Mayor Healy said. “People are suddenly taking care of their homes -sprucing them up, cleaning, and painting.”
Cetra said, “[77 Hudson] will bring vitality, utility, and twenty four- seven community.”
Residents will have just 10 minutes travel time to the Financial District in Manhattan. The location is three blocks from the Exchange Place PATH station, and across the street from a Light Rail stop.
There’s even some good news for New York residents, officials noted.
“We’re giving those on the east side [of Manhattan] a nice view of what’s happening in Jersey City,” Healy said. Cetra added, “We are enhancing the view from Manhattan.”