Bayfront Development Partners, a joint venture between Pennrose and Paths, has initiated construction of the first building of Bayfront Redevelopment Project in Jersey City, New Jersey, US.
The six-storey Bayfront Promenade building, located on the Hackensack River Waterfront, will feature 210 residential units, with 167 units designated for low- and moderate-income households.
This includes 74 affordable units for families earning 60% or below the area median income (AMI) and 93 workforce units for families earning at or below 120% AMI.
The project is stated to be part of New Jersey’s plan to transform the site into a vibrant and inclusive community.
Jersey City mayor Steven M Fulop said: “When we acquired the Bayfront site from Honeywell, we committed to transforming this once-contaminated land into a vibrant, inclusive, and environmentally resilient community. Today’s ground-breaking represents that bold vision becoming reality.”
The Bayfront Redevelopment Project began with the city’s acquisition of the 100-acre site in 2018. About $170m has been invested to buy the land and prepare the site.
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By GlobalDataJCRA director Diana Jeffrey said: “Since acquiring the once-contaminated land from Honeywell, we have only strengthened our commitment to delivering not only high-quality, affordable homes but also meaningful community space, sustainable design, and long-term value to the Jersey City community.”
The project’s buildings will adhere to high sustainability standards, incorporating green building practices that focus on energy and water efficiency, reducing urban heat island effects, and using resilient materials. A coastal resiliency strategy is also in place to address rising sea levels and climate change impacts.
Bayfront Development Partners was selected through a rigorous request for proposal process conducted by the JCRA and the Bayfront Advisory Board.
