Tishman Speyer to Break Ground on Jersey City Waterfront Tower
The 58-story property will offer 1,000-plus units and a quick commute to New York City.
Tishman Speyer will break ground on the first of two residential towers comprising its latest multifamily asset in Jersey City, N.J., later this month. Standing next to the Goldman Sachs Tower on the city’s waterfront across the Hudson River from Manhattan, 55 Hudson Street is expected to be online in early 2027, with a second tower to follow.
The developer secured approvals for the development from the Jersey City Planning Board in late 2022, recently landing a $300 million construction loan from Otera Capital. Tishman Speyer tapped Handel Architects and Marchetto Higgins Stieve Architects as the project architects, Hollander Design and Melillo Bauer Carman as landscape architects, and Michaelis Boyd as interior designer.
Once completed, the 58-story 55 Hudson will offer 1,017 units in studio and one- and two-bedroom floorplans. The developer is aiming for Fitwel certifications and will include Energy Star-certified appliances in the units. The community is expected to include approximately 75,000 square feet of indoor and outdoor amenities, along with approximately 60,000 square feet of retail space. Future tenants will be a short boat ride to Lower Manhattan. The property will also be adjacent to the NJ PATH train station, which reaches Lower Manhattan in less than 10 minutes, as well as near a Light Rail stop for travel within New Jersey.
Along with 55 Hudson, Tishman Speyer has plans for a second residential tower that will also bring new rental apartments, public open spaces and retail space. The second project, 50 Hudson, will be a 48-story community with 924 units, indoor and outdoor amenities, and roughly 12,000 square feet of retail space. Once fully completed, the two building development will total nearly 2,000 apartments, more than 70,000 square feet of retail, and offer a 32,000-square-foot waterfront plaza.
Developing throughout the NYC metro
Along with its 50 and 55 Hudson Street projects, Tishman Speyer already has numerous residential projects within the New York City metro area. Through its affordable housing development arm, TS Communities, the company is developing a fully affordable 237-unit community in Queens, N.Y. The community is scheduled to deliver in 2025 and will be part of a larger affordable housing complex called Edgemere Commons.
Beyond its famed New York City portfolio, which includes assets like Rockefeller Center, Tishman Speyer has a portfolio with properties in 36 key markets in the U.S., Europe, Asia and South America. The company has built a diverse portfolio that includes market-rate and affordable communities, mixed-use campuses and commercial properties. Earlier this year, Tishman Speyer acquired the 502-unit Avia at North Springs outside Atlanta.