Crescent Park – Jersey City, NJ
In April 2015, Quadrum acquired a freehold interest in 7.5 acres in one of the last remaining waterfront sites in Downtown Jersey City.
The site is well located in downtown Jersey City and borders Liberty State Park to the south and the Marina to the east, with protected views of the Manhattan skyline and the Statue of Liberty.
Together with its development partner, Quadrum is currently completing a master plan with the goal of rezoning the site to increase total unit count from 995 to 2,265 without increasing overall square footage, while also expanding the waterfront public park. The site requires extensive environmental remediation, which is currently underway, and has numerous infrastructure challenges including construction of roads, utilities, and management of a combined sewage outfall. It is anticipated the master plan, environmental remediation and rezoning process will be completed in 2017 and construction will commence in 2018. The Project will be built over several phases.