Residential Roundup 2017
01
JERSEY CITY
A synthesis of 9 HLW projects in Jersey City and the residential landscape.
RESIDENTIAL ROUNDUP 02
PART A
we’ve built. 03
What
It’s ranked the most livable city in the United States:
Dubbed the best midsize city in America.
Ranked the most diverse city in the United States.
Demographic, location, technology and cultural hub .
Leading the state of New Jersey with $15 minimum wage .
Ranked the #2 happiest place to work in America.
6300+ new jobs created since 2013.
30-to-5 year tax abatements.
1.78 million sf office development approved.
Over 15k new units approved or under construction.
1 2 3 4 5 6 7 8 9 10 04
WHY JERSEY CITY?
N
feet
GRAND REVETMENT HOUSE NE QUADRANT 4A ELLIPSE TOWER
HARBORSIDE
COLUMBUS
GRAND PROVOST SQUARE II PLAZA 4A PLAZA 10
6 TOWER
STREET
STREET SASVIC TOWER JOURNAL SQUARE NEW YORK HUDSON RIVER
Over 4.8 million square
in the past 4 years. 225
URBY
70-90
235
PIER
10TH
18TH
PROJECTS
PROJECTS (OFFICE) 05
EVOLVING WITH JERSEY CITY HLW
HLW
Our residential projects vary from midrise towers under 100k square feet to the recently completed URBY Harborside, at almost 770k square feet.
9 HLW PROJECTS 235 GRAND PROVOST SQUARE II 90 COLUMBUS 70 COLUMBUS ELLIPSE TOWER REVETMENT HOUSE SASVIC TOWER NE QUADRANT 4A URBY HARBORSIDE 06
Buildings of all shapes and sizes.
VAN LEER
Our projects are being developed in multiple districts...
JOURNAL SQUARE
HAMILTON PARK
HOBOKEN YARDS
VAN VORST PARK
DISTRICT BORDERS NEW YORK
HLW PROJECTS
HLW PROJECTS (OFFICE) NEWPORT
N
PROXIMITIES: REDEVELOPMENT DISTRICTS
HARSIMUS COVE METROPLAZA
VILLAGE
LIBERTY HARBOR PALUS HOOK POWERHOUSE THE
GREGORY PARK HARBORSIDE EXCHANGE PLACE
HISTORIC DOWNTOWN
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JOURNAL SQUARE HUDSON RIVER
PROXIMITIES: OUTDOOR PUBLIC SPACE
Our projects live within a high density of parks with great views of Manhattan.
JOURNAL SQUARE
OUTDOOR PUBLIC SPACE
HLW PROJECTS
HLW PROJECTS (OFFICE)
N
HUDSON RIVER NEW YORK 08
PROXIMITIES: TRANSPORTATION
Jersey City is well connected by land and sea.
LIGHT RAIL & PATH
NY/NJ WATERWAY
HLW PROJECTS
HLW PROJECTS (OFFICE)
JOURNAL SQUARE
N
RIVER NEW YORK 09
HUDSON
PROXIMITIES: CIVIC INSTITUTIONS
Schools are within walking distance of our projects.
EDUCATION (K-12, HIGHER-ED)
LIBRARIES
HLW PROJECTS
HLW PROJECTS (OFFICE)
JOURNAL SQUARE
N
RIVER NEW YORK 10
HUDSON
Fresh food is right around the corner.
N
HLW PROJECTS
MARKETS & GROCERY STORES
PROJECTS
NEW YORK HUDSON RIVER 11
PROXIMITIES: MARKETS & GROCERY STORES JOURNAL SQUARE HLW
(OFFICE)
PROXIMITIES: WALKABILITY
A host of amenities at your doorstep.
5-MIN WALKING RADIUS
LIGHT RAIL & PATH
NY/NJ WATERWAY
EDUCATION (K-12, HIGHER-ED)
LIBRARIES
MARKETS & GROCERY STORES
OUTDOOR PUBLIC SPACE
HLW PROJECTS
HLW PROJECTS (OFFICE)
N
JOURNAL SQUARE
NEW YORK HUDSON RIVER 12
PROJECT PROFILES
Let’s break down 9 HLW projects in Jersey City.
235 GRAND
ELLIPSE TOWER
URBY HARBORSIDE
PROVOST SQUARE II
70 COLUMBUS
SASVIC TOWER
REVETMENT HOUSE
13
90 COLUMBUS NE QUADRANT
4A
We design buildings of all scales.
PROJECT AREAS 800k 1,000k area (sf) 600k 400k 200k 0 235 GRAND ELLIPSE TOWER URBY HARBORSIDE REVETMENT HOUSE 90 COLUMBUS 225 GRAND SASVIC TOWER NE QUADRANT 4A PROVOST SQUARE II
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A city of diverse places.
NEIGHBORHOODS
HISTORIC DOWNTOWN DINING
GROVE STREET STATION
PENICK WAREHOUSE
HAMILTON PARK
EXCHANGE PLACE
HUDSON RIVER WALKWAY
STATE PARK 11 12 15 17 14 16 13 18 1 15
LOWE’S JERSEY THEATRE NEWPORT GREEN
LIBERTY
Residential 16% 13% Core/Support* 1 2 3 1 2 3 Parking (9%) Amenity (4%) Retail (3%)
AREA
71 71%
PROJECT
BREAKDOWN
elevators, stairs, corridors, mechanical spaces,
* 16
Let’s break down the program. Including
back-of-house.
Studios & 1-bedrooms dominate.
STUDIO
BR
BR
BR
TYPE
16 64%
Studio/1-Bedroom 36% 2/3/4-Bedroom
1 BR 2
3
4
UNIT
BREAKDOWN
17
Why we build.
PART B
19 18
WHO’S MOVING TO JERSEY CITY?
One of the highest growth rates in the state.
Jersey City has grown by 9% between 2010 and 2016. Of Jersey City’s 21,000 new residents, growth is concentrated among Millennials and Gen X-ers, with 41% and 34% of growth respectively. 9%
<18 18-24 45-54 55-64 >65 25-34 35-45 growth (%) age 40 30 20 10 0 -10 GROWTH IN JERSEY CITY PER AGE 21 20 21 19
HLW designs high quality living spaces.
74 74% 74% of Jersey City residents are renters. RENTAL MARKET TRENDS
3.0 4.0 5.0 6.0 ELLIPSE TOWER JERSEY CITY AVERAGE 225 GRAND URBY HARBORSIDE RENT PER UNIT TYPE ALL STUDIO 1 BR 2 BR 3 BR rent/sf ($) <$400 $3,000+ 22 23 24 20
Millennials drive the 1-bedroom apartment trend...
Millennials are willing to sacrifice space in favor of location, access to amenities, and affordability. They prefer functional and effective layouts that fit within their budget. Studios and 1-bedroom apartments now make up 54.4% of the apartment rental market due to Millennial demand.
MILLENNIALS COMING OF AGE
EXISTING (SINCE 2012) NEW (BEFORE 2012) unit type 50 60 40 30 20 10 0 STUDIO/1 BR 2 BR 3+ BR UNIT TYPE BREAKDOWN OF U.S. APARTMENT PROPERTIES % 26 25 21
MILLENNIALS COMING OF AGE
...but that might change when they start having kids.
CHANGE IN BIRTHRATE BETWEEN 2014 AND 2016
Demand for 2+ bedrooms are likely to rebound.
34 28 28% y/o 22-34y/o Median age in Jersey City 22 to 34 y/o residents make up 28% of Jersey City
growth (%) age 5 10 0 -5 -10 -15 -20 15-19 20-24 25-29 30-34 34-39 40-44 26 27 28 22
Less residential space, more amenities.
TRENDS: UNITS VS. AMENITIES
EMERGING
23
Public and private spheres are becoming blurred.
TRENDS: PUBLIC-PRIVATE
EMERGING
BOUNDARIES
24
EMERGING TRENDS: OUTDOOR LIVING SPACE
Living space extends outdoors.
25
EMERGING TRENDS: OPEN PLAN LAYOUT
Units are becoming flexible and adaptable.
26
How we’ll build.
PART C
31 29 27
WHAT WILL HAPPEN WHEN...
Shared autonomous vehicles reign?
Parking garages and lots may be repurposed as extensions of residential amenity, co-working spaces, and other pedestrian-based program. Our planning for parking space will need to be flexible and adaptible in the near future.
? YEARS 5 5 6 4 3 2 1 0 SDC shipped (millions) 2015 2016 2017 2018 2019 2020 GLOBAL SHIPMENT FORECAST OF SELF-DRIVING CARS 5.5 30 31 28
Delivery services replace the need to leave home?
As online shopping and delivery services grow and the need to step out of the home diminishes, our building’s program needs to encourage residents to interact and connect with nature and the city outside – a community and place to live, work and play.
WHAT WILL HAPPEN WHEN...
? YEARS 5 1.25 1.5 1 0.75 0.5 0.25 0 number of drones per 1,000 people 2016 2017 2018 2019 2020 VOLUME OF DRONES IN AMAZON’S FLEET (PER 1,000 PEOPLE) 1.21 32 33 29
50% 260 hrs/year WHAT WILL HAPPEN WHEN...
The majority of the population works remotely?
?
Due to the flexible work trend, livework units and co-working spaces will dominate the residential and commercial markets. Our residential units, as well as amenity program, will cater to that need.
50+
50% of all U.S. employees will work remotely by 2020.
Telecommuters save 260 hours per year by not commuting on a daily basis.
YEARS 5 34 35 36 30
Millennials retire?
?
Seniors and empty nesters will be looking to move back into urban areas, where diverse experiences, amenities catering to elders, and healthcare providers abound. Our buildings will be designed to support the needs of active elders.
50% of Millennials plan to work in retirement.
47% of those plan to do so for reasons of enjoyment or staying involved.
WHAT WILL HAPPEN WHEN...
47 47%
50% YEARS 40 37 37 31
50
Sea levels rise?
As sea levels rise and climate patterns become more disruptive and destructive, buildings and open spaces that we design will have resilience in mind and stay functional in the face of natural disaster. When these features are not in active use, they will also form part of our living fabric, as parks and plazas for people to enjoy.
WILL HAPPEN
WHAT
WHEN...
? YEARS 80 2020 2030 2040 2050 2080 2060 2090 2070 2100 5 6 7 4 3 2 1 0 water level (ft.) PROJECTED SEA LEVEL RISE IN JERSEY CITY 100-year flood Fast rise Medium Slow rise Sea Level Scenario 40 38 39 32
WORKS CITED
1 Miller, Derek. “The Most Livable Cities in the U.S.2016 Edition.” SmartAsset. October 31, 2017. Accessed December 19, 2017. https://smartasset.com/mortgage/ the-most-livable-cities-in-the-u-s.
2 Bernardo, Richie. “2017’s Most & Least Culturally Diverse Cities.” WalletHub. February 2017. Accessed December 19, 2017. https://wallethub.com/edu/citieswith-the-most-and-least-ethno-racial-and-linguisticdiversity/10264/#methodology.
3 Ibid.
4 Peterson, Eric. “The High-Tech City Circuit.” New Jersey Business Magazine. March 2016. Accessed December 19, 2017. https://njbmagazine.com/monthly_ articles/the-high-tech-city-circuit/.
5 George, Andrew. “Jersey City first to institute $15 minimum wage for municipal employees.” NJBIZ. February 29, 2016. Accessed December 19, 2017. http:// www.njbiz.com/article/20160229/NJBIZ01/160229813/ jersey-city-first-to-institute-15-minimum-wage-formunicipal-employees.
6 Dill, Kathryn. “The Happiest Cities To Work In Right Now.” Forbes. Accessed December 19, 2017. https://www. forbes.com/sites/kathryndill/2016/01/22/the-happiestcities-to-work-in-right-now/#5e79618823ca.
7 Zeitlinger | The Jersey Journal, Ron . “Jersey City has 2 new loan programs for small businesses, start-ups.” NJ.com. February 24, 2016. Accessed December 19, 2017. http://www.nj.com/hudson/index.ssf/2016/02/jersey_ city_has_2_new_loan_programs_for_small_busi.html.
8 Jersey City. “Tax Abatements (2014-2016).” CARTO. Accessed December 19, 2017. https://jerseycity.carto. com/builder/4f96d0ae-fecd-11e5-91cb-0e3ff518bd15/ embed.
9 Burd, Joshua. “SJP, Mack-Cali reveal design for hightech, 1.2 million sq. ft. office tower in Jersey City.” Real Estate NJ. November 03, 2017. Accessed December 19, 2017. https://re-nj.com/sjp-mack-cali-reveal-design-forhigh-tech-1-2-million-sq-ft-office-tower-in-jersey-city/.
10 Steve Strunsky | NJ Advance Media for NJ.com. “Jersey City under construction: 15,000 new apartments in 5 years.” NJ.com. November 29, 2016. Accessed December 19, 2017. http://www.nj.com/hudson/index. ssf/2016/04/top_10_developments_going_up_in_jersey_ city.html.
11 Gobetz, Wally. “NJ - Jersey City: Journal Square - Loew’s Theater.” Flickr. June 08, 2007. Accessed January 15, 2018. https://www.flickr.com/photos/ wallyg/535348765.
12 “Weekend Walks: A Photographic Tour of Hamilton Park.” Jersey Digs. May 22, 2016. Accessed December 20, 2017. https://jerseydigs.com/weekend-walks-aphotographic-tour-of-hamilton-park/
13 Ibid.
14 Adams, Nathaniel. “The Death and Life of Jersey City.” The New York Times. May 05, 2017. Accessed January 15, 2018. https://www.nytimes.com/2017/05/05/nyregion/ the-death-and-life-of-jersey-city.html.
15 “The One | Short Term Housing in New York | 800-4197576 | http://nectarfa.com.” Nectar. Accessed January 15, 2018. https://nectarfa.com/property/the-one/.
16 Jerseycitygal. “Shakespeare in the Park Tomorrow 8/14.” Jersey City Gal. August 13, 2013. Accessed December 20, 2017. http://jerseycitygal.com/2013/08/13/ shakespeare-in-the-park-814/.
17 Lj. “New Jersey Monthly Chronicles the Rise of Jersey City.” Jersey City Upfront. July 09, 2016. Accessed January 15, 2018. http://www.jerseycityupfront.com/newjersey-monthly-chronicles-the-rise-of-jersey-city/.
18 Kaysen, Ronda. “Jersey City Growing, With Many Personalities.” The New York Times. June 08, 2016. Accessed December 20, 2017. https:// www.nytimes. com/2016/06/12/realestate/jersey-city-growing-withmany-personalities.html.
19 Carla Astudillo | NJ Advance Media for NJ.com. “4 big ways that New Jersey’s demographics are changing.” NJ.com. December 10, 2016. Accessed December 20, 2017. http://www.nj.com/news/index.ssf/2016/12/4_big_ ways_that_new_jerseys_demographics_are_changing. html.
20 Ibid.
21 “Jersey City, NJ.” Data USA. Accessed December 20, 2017. https://datausa.io/profile/geo/jersey-citynj/#housing.
22 “Jersey City, NJ Rental Market Trends.” Apartments for rent – RENTCafé. Accessed December 20, 2017. https://www.rentcafe.com/average-rent-market-trends/ us/nj/jersey-city/.
23 “Real Estate Data for Jersey City.” Real Estate Market Trends for Jersey City, NJ - Trulia. Accessed December 20, 2017. https://www.trulia.com/real_estate/Jersey_CityNew_Jersey/market-trends/.
24 Axiometrics. “Millennials Drive One-Bedroom Apartment Trend, But That Might Change.” Forbes. November 11, 2015. Accessed December 20, 2017. https://www.forbes.com/sites/axiometrics/2015/11/11/
millennials-drive-one-bedroom-apartment-trend-butthat-might-change/#29fb4d1639a9.
25 “Jersey City, NJ.” Data USA. Accessed December 20, 2017. https://datausa.io/profile/geo/jersey-city-nj/.
26 Ibid.
27 “Millennials Infographic.” Goldman Sachs. Accessed December 20, 2017. http://www.goldmansachs.com/ourthinking/pages/millennials/.
28 Howe, Neil. “U.S. Fertility: Down For The Count.” Forbes. March 31, 2017. Accessed December 20, 2017. https://www.forbes.com/sites/neilhowe/2017/03/31/u-sfertility-down-for-the-count/#512c7c181d9b.
29 “Future Past: Self-Driving Cars Have Actually Been Around for a While.” Go to News. Accessed December 20, 2017. https://blog.caranddriver.com/future-past-selfdriving-cars-have-actually-been-around-for-a-while/.
30 Greenough, John. “Here’s why self-driving cars took center stage at CES.” Business Insider. March 09, 2016. Accessed December 20, 2017. http://www. businessinsider.com/self-driving-cars-ces-2016-01.
31 “Vehicles Parked Inside Elevated Parking Lot.” Free Stock Photos. Accessed December 20, 2017. https:// www.pexels.com/photo/vehicles-parked-inside-elevatedparking-lot-63294/.
32 “Amazon fleet .” Statista. Accessed December 20, 2017. https://www.statista.com/statistics/667971/ amazon-fleet-size-drones/.
33 “The Future of Transportation: From Land And Beyond.” Gizmo Snack. February 24, 2016. Accessed December 20, 2017. http://www.gizmosnack.com/coverstories/future-transportation-land-beyond/.
34 “How Millennials Are Shaping Work Flexibility for Everyone.” SHRM. May 19, 2017. Accessed December 20, 2017. https://www.shrm.org/resourcesandtools/hrtopics/technology/pages/how-millennials-are-shapingwork-flexibility-for-everyone.aspx.
35 Flexjobs. “15 Stats About Telecommuting in the U.S.” FlexJobs. September 16, 2016. Accessed December 22, 2017. https://www.flexjobs.com/blog/post/stats-abouttelecommuting-in-the-us/.
36 Alpert, Karen. “Why Being A Work-From-Home Parent Is The Worst Of Both Worlds.” Fast Company. April 18, 2017. Accessed December 20, 2017. https://www. fastcompany.com/3033226/why-being-a-work-fromhome-parent-is-the-worst-of-both-worlds.
37 “15 Facts About Millennials’ Retirement Readiness and 7 Steps for Long-Term Success.” Senior Lifestyle. July 22, 2014. Accessed December 20, 2017. http://www. seniorlifestyle.com/15-facts-millennials-retirementreadiness-7-steps-long-term-success/.
38 “Jersey City - Arc GIS.” Hlw.maps.arcgis.com. Accessed December 20, 2017. http://hlw.maps.arcgis. com/home/webmap/viewer.html?useExisting=1.
39 “See your local sea level and coastal flood risk.” Climate Central. Accessed December 20, 2017. https:// riskfinder.climatecentral.org/place/jersey-city. nj.us?comparisonType=city-ward&forecastName=Basic&f orecastType=NOAA2017_extreme_p50&level=6&unit=ft.
40 “Fountains in London.” Time Out London. Accessed March 14, 2018. https://www.timeout.com/london/events/ public-fountains-in-london.
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We’ll see you in Jersey City
NEW YORK
NEW JERSEY
LOS ANGELES
LONDON
SHANGHAI
www.hlw.com
+1 212 353 4600
@hlwinternational
Edward Shim
Principal eshim@hlw.com
Jie Zhu
Design Director jzhu@hlw.com
Mat Triebner
Director of Strategy & Discovery mtriebner@hlw.com
Contributors
Kyra Ahier
Chanel Dehond
Jacob Drung
Ruth Lee
Ed Shim
Nay Soe
Mat Triebner
Nancy Yeh
Jie Zhu
CONTACT US
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