While Jersey City’s waterfront has long been a hot spot for redevelopment, its West Side has seen a recent surge of activity. And the 3 Acres luxury multifamily complex is another sign of the rising tide for the neighborhood.
The project was built on a remediated former industrial site at 400 Claremont Ave. At 3 acres, it was a large enough parcel for builder-owner 400 Claremont LLC to construct a 629-unit apartment building that’s horizontal, just six stories tall, rather than rising vertically as a high-rise, saving an enormous amount in costs, said Art Johnson, a principal at the company.
The property: Tenants have a choice of 57 micro-studios, which range from 291 to 379 square feet, as well as 168 studios with alcoves that mirror the space of a one-bedroom apartment, as well as leasing units with traditional one-bedroom and two-bedroom layouts. The micro-units are fully furnished by Resource Furniture, which provides multi-functional, three-in-one pieces that quickly transform living areas into work and sleep spaces, Johnson said.
What they’re saying: The 3 Acres project did many pivots and turns during construction in the pandemic, with its plans changing to adapt, according to Johnson. Automatic doors were installed at the main entrance instead of revolving doors, so multiple residents wouldn’t have to touch the same surfaces to get in. The amount of retail space on the first floor was reduced, to allow for wider hallways for people to walk though and socially distance. And 3 Acres has five elevators, a lot for such as short building, to reduce the number of residents that have to share an elevator.
The project is located in a federal 'opportunity zone,' part of a program where developers receive tax benefits on capital gains for building in designated economically distressed urban and rural communities. The Garden State has 169 opportunity zones in 75 municipalities.
Residents, even those living in small apartments, will have plenty of chances to socialize with their fellow tenants or to find multiple tables, nooks, banquettes and pods spread throughout the common space to work. The developer also retained LIVunLtd, a concierge and amenity management firm, to schedule social events for tenants, with an on-site lifestyle manager to curate activities.
Fun fact: The apartment complex’s lounge has a saltwater aquarium, which is 12 feet long by 5 feet high and holds 2,100 gallons. A rare striped shark that “looks like a tiger” will be one of its occupants, Johnson said. And 3 Acres boasts a Steinway Spirio digital piano in one of its lounge spaces that plays music from a library of 1 million songs, according to Johnson. The grand concert Steinway can also simulcast live performances of well-known pianists, including Billy Joel.
CoStar’s Impact Awards highlight the commercial real estate transactions and projects that have transformed their markets over the past year. The winners are chosen by independent panels of industry professionals who work in the markets they judge. A list of judges can be found here and the criteria for selecting winners can be found here.