Answering the call for more quality housing in Jersey City, longtime Connell Foley client G&S Investors and its development partner Brookfield Properties broke ground on a new phase of a mixed-use project in Jersey City.
The latest plan to transform a well-known retail property, the project will consist of an 802-unit luxury apartment tower that will be anchored by a new ShopRite, a supermarket that has served the community for three decades.
Known as Hudson Exchange, the project began with the construction of two completed residential towers, VYV North and VYV South, currently comprising two 36-story luxury apartment buildings with 850 residential units, 20,000 square feet of retail space, and 450 parking spots.
Both Connell Foley and G&S have been involved with the evolution of the space since the 1990s when G&S first acquired it. Back then, when the real estate comprised four commercial properties and space dedicated to parking, G&S asked Connell Foley to assist with a deal with New Jersey Transit to install a light rail station on the site. Representing a second-generation redevelopment, the newest phase of the Hudson Exchange project will provide the entrance to a public park to be built on an elevated rail line. This venture involved land use, planning, redevelopment, litigation, subdivision, and many more elements of real estate law and counseling for a project of this size and complexity. Steve Urban, James McCann, Nevins McCann, and Kevin Coakley were among the Connell Foley attorneys working on the project.
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