1. S
Journal Square : Ready
for the Development of
Luxury Apartment ?
Determine whether or not there will have enough demand in JS to
support upcoming luxury apartment

2. Journal Square
S Old business district, residential area &
transportation hub
S Delay in redevelopment
S Top-down model

3. Demographics
S Population: 28,961
S Household: 11,641 (2,325
owned; 9,316 rent)
S Median HH income: 42,238
(57,711)
S High crime rate

4. Demand & Demand Trend
S Primary market: NYC
metropolitan area (75-80%)
S Secondary market: Jersey
City or Hudson County (10-
15% )
S Market potential: Foreign
investors (10%)
S Price of NYC rental market
S Income level of Northern
NJ
S Population goes up
S Company in Jersey City
S Views of Manhattan & more
space

5. Supply
S Journal Square
S Twin towers: both 60 stories
1,500 units
S 54-story tower 538 units
S 70-story tower 700 units
S 60-story tower 600 units
S Another two projects
S Jersey City
S 652 unites complete
construction
S 9,000 unite under
construction
S Rents increase 2.9% 2014
S 5,200 units this year
S Rent will increase 3.4%
2015

6. Public Policy
S Jersey City mayor Steven Fulop
S Jersey City council awards 30-year tax break for Journal
Square towers
S Less lucrative tax abatements for Downtown residential
buildings
S $1.4M for open space redevelopment

7. Conclusion
S Journal Square luxury Apt lead the redevelopment of
entire district
S Mixed-use development on retail
S Infrastructure of transpiration
S Redevelopment of existing public space