Hartz-led developers awarded $19.2 million in state tax credits for 13-story Journal Square building
PHM II Associates, LLC a partnership of Hartz Mountain Industries, Panepinto Properties, Inc. and Garden State Development, Inc., announced last week that it received a $19.2 million tax credit from the EDA’s Transit Hub Tax Credit Program, enabling it to construct a 13-story, 240-unit residential rental community at 3 Journal Square in Jersey City.
The luxury rental will be built above an already existing foundation and parking deck that was developed in 1984 by the partners and has been operated by Hartz Mountain.
“We are very honored to receive the EDA’s Transit Hub Tax Credit, and thrilled that we can use it to continue our development work in Jersey City,” said Emanuel Stern, COO and President for Hartz Mountain Industries. “This building is a phenomenal location at the nexus of the state’s transportation infrastructure—it will certainly stimulate the economic activity that the program was meant to create.”
Hartz has a long history of Jersey City development projects, and has been credited with triggering the commercial redevelopment there starting in 1998 with its development of the Colgate Center, as well as initiating the upscale residential development on Jersey City’s waterfront when it built the Monaco in 2008.
The project at 3 Journal Square is expected to create 400 jobs and contribute $100 million in construction work to the local economy. Hartz expects to break ground in spring of 2014 and welcome its first residents in winter 2015.
Three Journal Square is part of Hartz’s luxury residential portfolio which has grown to more than 3,000 units in New Jersey, New York, Chicago and Seattle since its first residential acquisition in 2010.
Seat belt crackdown wins award for Jersey City police
At a recent ceremony, the American Automobile Association of North Jersey presented Jersey City police officials with an AAA Outstanding Achievement Award. This is given in recognition to communities with exception traffic safety program activities. Jersey City police have a very effective traffic safety enforcement and education program. The major programs conducted in the community include “Click It or Ticket” safety belt program and child safety seat inspections. The Jersey City police also distribute traffic safety education materials to students and conduct numerous safety programs in their schools.
CarePoint gives back for the holidays
CarePoint Health – Bayonne Medical Center, Christ Hospital and Hoboken University Medical Center – is giving back to the community this holiday season. On Friday, Nov. 22, CarePoint Health donated $1,000 to The Sharing Place at St. Paul Lutheran Church in Jersey City for food distributions on Nov. 23 and Nov. 30. CarePoint Health will be scheduling upcoming events with The Sharing Place at St. Paul Lutheran Church, so be sure to visit www.carepointhealth.org or call the public relations department at 201-418-2335.
JC Youth Foundation holds toy drive
Mayor Steven M. Fulop and the Jersey City Youth Foundation will be doing a Toy Drive/End of Year Fundraiser for the Youth of Jersey City.
Organizers asked that you stop by Port-o Lounge on Wednesday, Dec. 18, from 6 to 9 p.m. with a new unwrapped Toy for Children Ages 1- 12. They are also accepting Gift Cards, Checks, and credit card donations made out to: “Jersey City Youth Foundation" for a suggested donation of $20 or more. They will be raffling gifts from local business and artists as well as hosting a 50/50!
Port-O Lounge will also donate a percentage of sales from beverages and food. If you are unable to attend, you can make a donation online at:
Or mail your check to: Jersey City Youth Foundation, 230 Seventh Street, Jersey City, NJ 07302.
Payne recognized as Defender of Children
The First Focus Campaign for Children, a national bipartisan children’s advocacy group, recognized Rep. Donald M. Payne Jr. as a “Defender of Children” for leadership on issues important to children during 2013.
“Lots of politicians talk about kids’ issues, but few back it up,” said Bruce Lesley, president of the Campaign for Children. “Rep. Payne delivered for kids.”
Rep. Donald Payne was one of 100 Members of Congress recognized for their support of policies that advance the well-being of children. In selecting honorees, the First Focus Campaign for Children noted leaders who introduced, co-sponsored, and voted for legislation to meet children’s needs. In addition, the organization considered members who demonstrated extraordinary initiative by spearheading activities such as sponsoring hearings or garnering the support of their colleagues to improve the health and well-being of children.
This is the Campaign for Children’s fourth annual class of Defenders of Children. For more information about this year’s honorees and past classes, visitwww.ffcampaignforchildren.org.