EPIRE, a New York City-based real estate investment firm, has announced the acquisition of development rights to construct a new mixed-use property in Jersey City. Located at 161 Second Street within the historic Powerhouse Arts District, the through-block building will comprise 100,000 square feet including both residential and retail components.
In 2016, LWDMR Architects revealed renderings of a proposed, 11-story hotel building on the same lot, listed as 144 First Street. It is unclear why those plans were scrapped, and which agencies were responsible for development. Beyond demolition of a preexisting warehouse structure by the previous developer, new construction did not begin, and the lot is currently vacant.
Rendering of 144 First Street, which was announced but not built – LWDMR Architects
Previous street view of warehouse structure at 161 Second Street – Skyscraper City Forums
While EPIRE has not revealed the design architects behind this iteration of development, newly released renderings depict a 17-story, masonry-clad building with three setback terraces on the fourth, tenth, and 14th floors. These areas will most likely support private outdoor space for a select number of units. It is unclear whether the development will yield condominiums or rental properties.
According to a brief announcement from EPIRE, the team is currently undertaking a range of due diligence checks on the property.
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I just wish Jersey City planning made an attempt to encourage developers to build aesthetically pleasing buildings instead of just encouraging bland, lazy construction