Park and Shore in Jersey City, which recently topped out — Courtesy: Field Construction
By Joshua Burd
A new two-building luxury condominium project in Jersey City is more than 50 percent sold, as its developer hails the completion of vertical construction in the city’s Newport section.
Development firm Strategic Capital, the investment arm of China Construction, announced the milestone on Wednesday as it hosted a topping out ceremony for what’s known as Park and Shore. Located on the northernmost section of Jersey City’s waterfront, the project will include a combined 429 upscale homes split between buildings of 37 stories and seven stories.
The developer touted the buzz just six months after launching sales, calling it a sign of pent-up demand in a market that has been dominated by rental properties.
“This marks a major milestone for Park and Shore, and highlights how close we are to bringing this condominium development to life,” Phillip Gesue, chief development officer with Strategic Capital, said in a prepared statement. “Park and Shore signifies a truly unique opportunity in Jersey City — it fuses Manhattan-quality design, a robust amenity package and premier location for incredible value — and is redefining the Newport neighborhood.”
Woods Bagot has designed Park and Shore, which will occupy a site that Strategic Capital acquired from LeFrak several years ago, while Plaza Construction is serving as construction manager and general contractor. The project includes two distinct buildings, 75 Park Lane and Shore House, where closings are set to begin in October 2018 and July 2019, respectively.
The taller of the two, 75 Park Lane, will be 37 stories and features 358 condos ranging from studios to penthouses, according to a news release. The building, for which Marchetto Higgins Stieve served as executive architect, is meant to give buyers the feel of a high-rise with balcony views and large amounts of natural light.
Strategic Capital said Shore House, a boutique 71-unit building standing seven stories, offers an industrial aesthetic akin to the lofts of Brooklyn and Tribeca.
“The interiors of 75 Park Lane are inspired by the sophisticated legacy of American modernism, while Shore House is a grittier counterpoint, recalling the industrial brick past of this neighborhood,” Woods Bagot Principal Wade Little said. “We designed the whole complex as a collection of hospitality experiences.”
Amenities include an Olympic-size swimming pool, spa, wine-tasting room, private dining room and a large health and wellness section. Common spaces and many homes will offer sweeping views of the Manhattan skyline.
Gerald Gendreau, senior associate with Woods Bagot and building architect, added that the two buildings are unified by common materials: naturally colored metal and terracotta frames that visually connect the buildings to the adjacent public park. He noted that 75 Park Lane is designed with an interlocking series of two-story frames with floor-to-ceiling glass, while Shore House, the lower building, features staggered, single-story frames.
Wednesday’s topping out ceremony drew China Construction America Chairman and President Ning Yuan, Chinese Consul General in New York Zhang Qiyue, Jersey City Mayor Steven Fulop and Plaza Construction Chairman and CEO Richard Wood.
“We are excited to welcome Park and Shore to our Jersey City community, and know that this development will be an incredible addition to the city’s waterfront,” Fulop said. “Today’s topping off ceremony represents an important milestone, and I look forward to cutting the ribbon on this building soon.”