Northern New Jersey Development News
Planned, Ongoing, and Recently Completed projects in Northern New Jersey
--------------------------------------------------------------------------------------------------------------------------------------------------------------
Planned, Ongoing, and Recently Completed projects in Northern New Jersey
--------------------------------------------------------------------------------------------------------------------------------------------------------------
DONALD TRUMP, DEAN GEIBEL ANNOUNCE PLANS FOR LUXURY CONDOS IN TALLEST RESIDENTIAL TOWERS IN NEW JERSEY
Trump Plaza: Jersey City Towers Include Condos, Retail and Parking
SEPTEMBER 22, 2005 - Trump Organization CEO Donald Trump, Metro Homes Founder Dean Geibel and his partner Paul Fried today announced construction will begin on Trump Plaza: Jersey City, a $415 million condominium project that will include the two tallest residential towers in the state of New Jersey. Construction will begin this year with occupancy beginning in November 2007, Trump and Geibel said.
Trump Plaza, at Washington and Bay Streets, will include a 531,500 square-foot tower, topping out at 55 stories, with 445 condominium homes, and a 481,283 square-foot tower, reaching 50 stories, with 417 condominium homes. The towers will rise from a 328,658 square-foot, seven-story base, housing a garage with 696 parking spaces and 23,000 square feet of prime retail space. The base will accommodate a business center, home theater screening room, a private 8,000 square foot fitness center, a rooftop plaza with an outdoor heated swimming pool, a private landscaped yard, children's play area and enclosed basketball court.
"The addition of this luxury structure to Jersey City's Gold Coast is a testament to the attraction of our city as a destination for people to live, work, and raise families. We are pleased to welcome Mr. Trump and Mr. Geibel as developers of this project whose shared vision contributes to the continued growth and success of our downtown revitalization," said Jersey City's Mayor Jerramiah T. Healy.
"We are honored to be working with Donald Trump to create a world-class living experience in Jersey City with its incomparable views of the world's most famous skyline, outstanding amenities and convenient transportation links. I also want to thank Mayor Healy for his efforts to create an environment where Trump Plaza is possible." said Geibel, whose Hoboken-based Metro Homes LLC is the developer of the project.
"This is a quality project, worthy of the Trump name, rising in one of the most exciting places on the planet today - Jersey City," said Trump. "The Trump Organization participated in the design and invested in the project, and we will manage Trump Plaza to ensure that the people who live here will fully enjoy this great urban lifestyle."
Because of the positioning and triangular design of the residential towers, most units will have Manhattan skyline views.
The lobby will be an extravagant two-story structure, serving as a statement piece for the building and will be attended by a 24-hour professional concierge service. The studios, one-, two-, and three bedroom residential units will range in size from 750 to 2,224 square-feet. The units will have state of the art kitchens and appliances, marble bathrooms and distinctive wood floors. Comparable properties are two of the Trump Organization's Westside Manhattan properties - 200 Riverside Boulevard at Trump Place and 240 Riverside Boulevard at Trump Place.
Working with Mayor Healey and other elected officials in Jersey City and Hudson County, Metro Homes secured property tax abatements which will be passed on to condominium owners.
Metro Homes LLC presently is developing Gull's Cove, a community of 431 condominium residences that is part of Jersey City's Liberty Harbor North redevelopment effort; and The Esperanza of Asbury Park, 224 condominium residences in Asbury Park's celebrated oceanfront redevelopment district.
Panepinto Properties and The Applied Companies, the original owners and developers of the project, remain as partners in the development. Trump Plaza was designed by the Manhattan-based DeWitt Tishman Architects. Bovis Lend Lease will construct the project.