Currently, the 42-story Goldman Sachs tower that stands 781 feet tall is the tallest in New Jersey. However, ground has been broken at 99 Hudson, where a new building will be erected, becoming the tallest building in the entire state. Rivaling the Goldman Sachs tower, the new tower will enhance the Hudson River skyline.
The empty parking lot where the new tower will be erected was originally purchased by Hartz Mountain Industries in 2011, from Bank of America Corp, for $35 million. Then in November 2013, the site was sold to China Overseas America for $68 million. The new tower, designed by Perkins Eastman, will replace the previous plan submitted by Hartz Mountain for two towers.
New Jersey’s tallest building will be a mixed-use development, boasting 79 stories and standing 900 feet tall. Included will be 781 condominium units, 18,000 square feet of dedicated commercial and retail space, open green space, and 609 parking spaces. The tower is being developed by China Overseas America, the US subsidiary of China State Construction Engineering Corp, a Chinese construction giant.
The completion date for transforming the vacant parking area is 2018. Once done, the new tower will be the tallest building in New Jersey and one of the tallest residential towers in the country. As stated by president of China Overseas America, Cindy Xiu, the cost of developing the new tower will be more than $500 million. Upon completion, both commercial and residential tenants will enjoy spectacular views.
At the recent groundbreaking ceremony, New Jersey Mayor Steve Fulop stressed just how significant this investment is, especially when it comes to a condo project. In addition to being a sign of optimism for the people of New Jersey, it positions Jersey City as being a global city.
According to the Council on Tall Buildings and Urban Habitat, if the new 99 Hudson tower were already complete, it would be ranked as the sixth-tallest mixed-use and residential building in the United States. In fact, it would surpass the 869-foot building in Chicago on North Michigan Avenue.
Advances in New Jersey
As stressed by Matthew Hale, a political science professor with Seton Hall University, the 99 Hudson tower clearly proves that Mayor Fulop is doing his job well. Hale added that although Fulop is a relatively new politician, he has already accomplished great things for the state.
Mayor Fulop’s administration has made efforts to transform Jersey City, ultimately attracting hundreds of millions of dollars in investment money. Instead of being mesmerized by the Manhattan skyline, in 2018, people will marvel at the new Jersey City tower, the tallest in the state.
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