JESREY CITY-The 50-story Monaco rental residential building on Jersey City’s waterfront is nearing completion and will open an on-site leasing office in February, announced co-developer Roseland Property Co. Roseland, based in Short Hills, is collaborating with Garden State Development Inc. and Hartz Mountain Industries on the 523-unit building at 475 Washington Blvd., which will be the state’s tallest residential tower when it opens in the spring. The property topped out this past May.

Four retail units totaling 12,000 square feet will be located on the ground level. A 10-story parking deck will serve residents, shoppers and an adjacent hotel.

“Monaco was the last building financed in 2008 before the economic downturn, and, because the market had been dominated by condominiums for several years prior, is the first significant luxury rental building to open on the waterfront in years and none are scheduled to open,” says Carl Goldberg, partner in Roseland Property Co., in a release. “The market for rental on the Gold Coast has been particularly strong since the for-sale market began struggling, and already we have accumulated a large list of prospective residents.”

Amenities will include a fitness center, heated outdoor pool, business center and 24-hour concierge and valet services. Monthly rents will range from $1,600 for studios to $5,300 for three-bedroom penthouses.