Search
 

99 Hudson Will Be Built, Developer Says

JERSEY CITY-The delay from the re-evaluation of the Urban Tax Hub Credit program is just a blip in what will be a three-year building process, says co-developer Roseland Property Group.

By Debra Hazel | Updated on February 23, 2012

JERSEY CITY-Despite the suspension of applications for Urban Transit Hub Tax Credit credits, developers Hartz Mountain Industries and Roseland Property Co. hope to begin construction on the massive, $450 million rental complex at 99 Hudson St. by the second quarter of next year.

The 1,000-unit project will be the largest rental complex in the state, in one of the top five tallest buildings in New Jersey. Development is contingent on the revival of the UTHTC program, which is being reevaluated by the New Jersey Economic Development Authority, its administrator. The developers are confident that the tax credit will resume, Roseland partner Carl Goldberg tells GlobeSt.com

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.