Metro Plaza at Jersey City was built by G&S on approximately 20 acres located immediately adjacent to the Newport Center Mall, and what is now the hub of Jersey City’s retail, office and luxury residential markets.
At the time of its acquisition, development of Jersey City was at a standstill. G&S saw the potential for the site and convinced major stand alone retailers to pioneer the site. The site was developed as a power center consisting of a 116,000 sq. ft. BJ’s Wholesale Club, 65,000 sq. ft. ShopRite Supermarket, 40,000 sq. ft. Wiz store, and a 22,000 sq. ft. Pep Boys. Built on a former train yard, the project helped to stimulate the economic revitalization of the area.
The Jersey City site has since become a significant alternative to Manhattan for new office towers and residential construction. In working closely with the City and community leaders, the property was rezoned with the future in mind. What is now being called Hudson Exchange, this large-scale, mixed use project will integrate up to 6,000 rental apartments, roughly 500,000 square feet of retail, and 2.5 acres of publicly accessible open space that will help transform the Harsimus Cove area.
The first phase of this project will entail 421 rental apartment units, 20% affordable, 35-story tower with 10,500 square feet of retail shops, and a parking garage consisting of 264 spaces. The Hudson Exchange site is also within walking distance to the Newport and Grove Street PATH Stations, providing quick access to downtown and midtown Manhattan.