A rendering has been revealed of the planned 15-story, 113-unit mixed-use building at 87 Newkirk Street, in the Journal Square section of Jersey City. The project will measure 129,500 square feet in total, featuring 5,000 square feet of ground-floor retail space, followed by 21,500 square feet of co-working space on the second and third floors. The residential units above will be rental apartments configured in studios and co-living suites with multiple bedrooms.
In YIMBY’s recent rundown of Long Island City development, we tallied seventeen structures of eight stories and above that have topped-out in the Court Square area within the past twelve months. It appears that The Jackson, which is taking shape at 11-51 47th Avenue, will be the next to join the list. The structure doubled in size between August 15th and the start of October, growing from five to ten floors, so we expect to see the remaining penthouse floor and the service bulkhead rise in the coming weeks. The 53-unit condo project is being developed by Charney Construction and Development, in conjunction with Ascent Development and Tavros Capital, while the industrial-inspired design was crafted by Chris Fogarty of Fogarty Finger.
SoHo-based Tavros Capital is currently in the process of assembling a site with significant development potential on the corner of 23rd Street and 45th Avenue, in the Court Square section of Long Island City. Over the summer, the development firm purchased the townhouses at 45-03 23rd Street and 45-07 – 45-09 23rd Street for $11.25 million, and has since entered into contract on two additional properties, while waiting for two more. Plans include a mixed-use building with retail, office, and residential components, The Real Deal reported. The site can accommodate up to 167,000 square feet of mixed-use development as-of-right, though an additional 83,000 square feet of air rights could be acquired. Tavros expects the assemblage to cost between $30 and $35 million once complete.