Jersey City’s Transformation to a Vibrant Cityscape and Waterfront

This month’s meeting of the Northern New Jersey RPN Mastermind Group featured a guest speaker from Jersey City government – Councilwoman Candice Osborne. She painted a dynamic picture of current and future stages in the redevelopment of the Jersey City waterfront and provided updates on other exciting programs in the city. Her presentation led with a photo of the new Newark Avenue pedestrian mall that’s become a go-to walking destination in one of the city’s traditional downtown neighborhoods. It now encompasses a wide avenue flanked by restaurants with sidewalk seating and small businesses with residences living above. The 6th Borough Market, an open air flea market on vacant land, courtesy of Silverman Development, is drawing residents, craftspeople and startup entrepreneurs each Sunday. The Exchange Place Alliance, formed by the city’s government with developers Mack-Cali and Silverman, is focusing on major capital improvements along the downtown waterfront. The result will be a synergy of new office, residential and retail space along with dynamic public spaces for events, eating or simply strolling along the waterfront.

The Councilwoman also took part in group discussions on a variety of trends impacting real estate today with potential for the future. Topics included: the growth of micro-unit residential options for Millennials in cities and towns; the shift from sprawling suburbs to “exurban” communities along rail lines; Generation Y’s impact on jobs and residential choices; the continuing development of We-Work spaces and live/work/play communities throughout the tri-state area; and the current and future effect of Uber, share-a-ride services and driverless cars and trucks. Toward the end of the meeting, Dresdner Robins President Fred Worstel commented on how exciting it has been to observe and take part in the resurgence of Jersey City over the years into the dynamic, people-friendly urban environment it has become.