Tishman Speyer is gearing up to start working on a project that is destined to completely transform the Jersey City waterfront. They are planning to begin with the construction of a tower called 55 Hudson Street, which will soar 58 stories high. Having already obtained the approvals from the Jersey City Planning Board in 2022, Tishman Speyer recently secured a construction loan of $300 million from Otera Capital. With the loan now it means that they have the light to begin construction this month. The project is expected to be completed in 2027.
Erik Rose, the Senior Managing Director and Head of U.S. Residential Development, at TS, expressed his excitement for the upcoming 55 Hudson Street project highlighting its dedication to providing notch living. The collaboration with a team of high-profile architects and designers including Handel Architects, Marchetto Higgins Stieve Architects, Hollander Design, Melillo Bauer Carman, and Michaelis Boyd ensures a designed and high-quality urban environment for the residents.
Also, the strategic location of the 55 Hudson Street project next to the NJ PATH, Light Rail, and fast ferries to New York further enhances its accessibility. It offers a seven-minute boat ride to Lower Manhattan. Both towers will feature Energy Star-certified appliances and they aim for Fitwel Certifications in line with sustainability and wellness standards.
How Many Apartments Await at 55 Hudson Street Tower?
The upcoming residential tower at 55 Hudson street will offer a total of 1,017 rental apartments. These homes will include studios, one-bedroom, and two-bedroom units that provide views of the New York Harbor, the Paulus Hook neighborhood, and the iconic Manhattan skyline. Thus, the residents can look forward to enjoying a range of outdoor amenities spread across approximately 75,000 square feet. On the street level, there will be around 60,000 feet of retail space added to enrich the lively waterfront community.
Once the construction of 55 Hudson street is completed, the attention will shift towards building 50 Hudson, a residential tower soaring 48 stories. This transformative development will result in 2,000 new apartments being created. Along with, over 70,000 feet of retail space and an expansive waterfront plaza measuring about 32,000 square feet. This community plaza will connect directly to Jersey City’s esplanade and has been specifically designed to host events and bring the waterfront space to life for both residents and visitors.
Tishman Speyers visionary plan to redefine the Jersey City waterfront is a milestone in the development of the area. It promises a lively living experience for both current and future residents. Construction is about to begin marking the start of a chapter, in Jersey City’s skyline.
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