As rent-burdened New Yorkers continue to flee across the Hudson to Jersey City, a new residential project that will further alter the already-changing Hudson River waterfront is now underway. An "ultra-luxury" condo helmed by Strategic Capital, the real estate investment arm of China Construction America, is now in the works.
The development, named Park and Shore, will consist of two distinct buildings offering units of various sizes and (pretty high) prices. The first, 75 Park Lane, will rise 37 stories and contain 358 apartments ranging from studios through three-bedrooms, along with some penthouses. The second building, Shore House, will be adjacent to 75 Park Lane and will feature "the industrial style found in Tribeca and Brooklyn," whatever that means (presumably, Edison bulbs and exposed beams and, well, you get the drill). There will be significantly fewer units, with just 71 one- and two-bedroom apartments. Both buildings will offer amenities that include swimming pools, fitness centers, children’s play area, spas, game rooms, golf simulators, co-working areas, and more.
Despite its Jersey City location, the development will have Manhattan price points, with one-bedrooms beginning at $650,000—a significantly higher number than the city's current median home price of $320,000. A press release notes that the development presents an opportunity to "buy Manhattan quality in Jersey City."
Woods Bagot, who conceived New York City’s Baccarat Hotel, is the project’s architect and interior designer. Sales for Park and Shore are expected to launch in early 2017.