SECAUCUS—Hartz Mountain Industries and Roseland Property Company will build a 1,000-unit residential complex at 99 Hudson Street in Jersey City. With a price tag of $450 million and a total size of more than one million sq. ft., the project would create more than 2,000 long-term construction jobs over a five year period, and will be the largest rental project and one of the top five tallest buildings in New Jersey.
Colgate Center is home to 90 and 70 Hudson Street, which were developed by Hartz Mountain and when sold last year were named the most expensive office buildings in New Jersey. After Hartz’s speculative construction of 70 and 90 in the late 1990s, Goldman Sachs built its tower and a Hovnanian-developed luxury condominium at 77 Hudson.
Roseland Property Company, which manages Hartz Mountain’s residential projects and is a partner in four of Hartz’s residential developments, envisions support retail and entertainment on the structure, which provided parking for residents and guests.
The project will be developed subject to revival of the New Jersey Economic Development Agency’s Urban Hub Tax Credit (UHTC) residential program, which was suspended after depleting its $250 million allocation.