Real Estate New Jersey is part of the Forum LOCAL series of features in Real Estate Forum magazine. This is an HTML version of an article that ran in the May 2014 issue of Real Estate Forum. To see the story in its original format, click here.
Some are calling it a “surge”—10,000 apartment units teeming their way through the pipeline in Jersey City over the next five years. Others say it's an “explosion” of development, and seem a bit wary of fall-out down the line. (Will rental rates, which have been throttling upward for years now, stop growing? Will occupancy, which is currently close to maximum, slacken?) No one, however, describes Jersey City's rapid transformation into a cool place for the Millennial generation to live as a bolt in the wrong direction. And everybody and his sister, it appears, is jumping in with a new project.
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