Development partners Bijou Properties and Intercontinental Real Estate Corporation have broken ground on a new multi-faceted project which will consist of a 424-unit luxury rental building, a state-of-the-art 6,835 square-foot public gymnasium, and a two-acre resiliency park in Hoboken.
Located at 700 Jackson Street, the new 14-story mixed-use rental building has been designed by Marchetto Higgins Stieve Architects and will include luxury residences, 90,000 square feet of upscale amenities, including a penthouse pool and roof deck, and 25,000 square-feet of ground floor retail space. The adjacent two-acre park will be split between a one-acre open grass area and children’s playground and a one-acre public plaza designed for active and passive recreation uses.
Construction is expected to be completed in mid-2019.
The project – which is rising near the 9th Street Hudson-Bergen Light Rail Station – is part of the larger redevelopment of Hoboken‘s western edge into a vibrant and active pedestrian-friendly neighborhood. The new building follows in the footsteps of Vine, a 135-home luxury rental completed by the two prominent development companies at 900 Monroe Street in Fall, 2015.
“We’re invested in the future of Hoboken and are committed to working with the City to develop sustainable housing that significantly contributes to the community-at-large,” says Larry Bijou, Managing Partner of Hoboken-based Bijou Properties. “This new building and open space donation fits perfectly into that philosophy.”
“In addition to offering living spaces specifically designed with the needs of Hoboken families in mind, this building supports the up-and-coming western Hoboken neighborhood by providing much-needed public space, a recreational center and a resiliency park to help alleviate water run off concerns.”
Bijou Properties is widely recognized as Hoboken’s premier environmentally-sustainable and community-minded residential developer, focused on creating better neighborhoods and healthier environments. The company’s work has been cited by industry peers, most recently receiving Honorable Mention for the 2017 LOCUS Development Company of the Year
Award, which recognizes sustainable, smart-growth development activity.
Its dedication to Hoboken can be seen throughout the Hudson County City’s north end where the company has developed Garden Street Lofts, New Jersey’s first LEED Gold Residential high-rise building, Edge Lofts, a mid-rise LEED Platinum rental building; and Park + Garden, a 212-unit LEED Gold Certified rental community that includes a 32,000 square-foot Elysian Charter School. The developer also created and sponsors Garden Street Mews, an open space located right outside Park + Garden that supports community gatherings and host the Hoboken Family Farmer’s Market, and has restored the former Hostess Factory on the corner of 14th Street and Park Avenue into a retail complex.