8,000 Unit Development Site will be 35% Affordable Housing, Reshaping West Side of Jersey City

JERSEY CITY – Mayor Steven M. Fulop, the Jersey City Redevelopment Agency (JCRA), and the Department of Housing, Economic Development and Commerce (HEDC) announce an agreement for construction of the first phase of Bayfront, the largest mixed-income development site in the region. 

The city acquired the 100-acre Bayfront property from Honeywell Corporation in 2018 for $100 million with the city stating at the time a reason for the acquisition is to meet the goal of increasing the on-site affordable housing requirements from 5%, that was previously stipulated in the redevelopment plan, to a new goal of 35% with the city controlling the property. 

The post In wake of pandemic, Jersey City moving forward with Largest Mixed-Income Housing Development in Tri-State Region first appeared on River View Observer.