A developer has broken ground in Jersey City on what will be the state's tallest building — a 79-story residential tower that will be home to nearly 800 condominiums.
Representatives of the firm, Chinese Overseas America Inc., were joined Thursday by Jersey City Mayor Steven Fulop and other city officials for a ceremony to kick off construction of the planned 900-foot tower. With completion slated for 2018, the project at 99 Hudson St. will also include some 18,000 square feet of commercial and retail space, plus additional public spaces and plazas.
The building, which is slated to have 781 condos, will rise above the 781-foot Goldman Sachs tower on the Jersey City waterfront to become the tallest in the state, according to a news release. The city also is home to Trump Plaza, a 532-foot tower that is currently New Jersey’s tallest residential building.
“This is a transformative project. It will dramatically reshape New Jersey’s skyline, but more than that, it is symbolic of our continued growth as a world-class metropolis,” Fulop said in a prepared statement. “The fact is, more people than ever want to call Jersey City home, and more businesses than ever want to invest here.”
The ceremony also drew members of the Chinese consulate. The developer is a subsidiary of China State Construction Engineering Corp.
“We are committed and proud to have our project advance the great growth of Jersey City,” said Cindy Xiu, president of China Overseas America Inc. “This building will literally have the best view in the world, as it’s going to have panoramic views of the Statue of Liberty, Ellis Island and the New York City skyline.”
For Jersey City, it is the first large-scale condo project since the waterfront Crystal Point development, which opened in 2009 with 269 units, the news release said. The project comes amid a boom in the city’s rental market, both in terms of construction and demand from renters.
Projects including nearly 8,000 residential units have been built in Jersey City since 2013, when Fulop took office, the news release said. The city also has nearly 7,000 units under construction and another 19,000 approved.