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(Read more on the multifamilymarket.)

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JERSEY CITY-Work is set to start for the Schroeder Lofts, a58-unit condominium project at the corner of Erie and 10th streetshere. Architectural design work has been completed for the projectby the Hasbrouck Heights-based DMR Architects. The developer is thelocally based Exeter Property Co., which has multiple currentresidential projects in this city. And Schroeder Lofts is beingbuilt by the Hoboken-based Green Tree Construction. The cost hasn'tbeen released.

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"The Schroeder Lofts are situated in a location that is close topublic transportation and the downtown shopping district," saysLloyd Rosenberg, president, CEO and founder of DMR Architects. "Weworked with Exeter to give the city's residents another option whenlooking for a home."

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The new six-story building has been designed to complement andblend with pre-existing local architecture, according to Rosenberg.The project will also include a fitness center, a community room,an above-ground pool and a two-story parking garage. The site isalso located adjacent to the Hudson-Bergen Light Rail connectingvarious points of Jersey City with Bayonne and Hoboken.

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And Schroeder Lofts is being designed and built as a "green"project, according to officials of Exeter Property Co., a firmheaded by brothers Eric and Paul Silverman. Among its features arebamboo flooring, low VOC paint and high-efficiency HVAC. Andbesides the green features, a number of the loft units will beconstructed with separate home office areas.

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Schroeder Lofts is near another project currently under way byExeter Property Co. in Jersey City. The company is developingHamilton Square, a mixed-use project that will build out to a totalof 300 condos and 24,000 sf of ground-floor retail space oppositethe two-acre Hamilton Park.Hamilton Square is rising on the site of the former St. FrancisHospital and is a combination of adaptive reuse of the old hospitaland new construction. It's similarly being developed to "green"standards.

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