JERSEY CITY, NJ-Mack-Cali Realty Corp. and joint venture partner Ironstate Development Co. broke ground on Tuesday on a $291-million multifamily apartment tower on the waterfront here.

The 69-story multifamily tower will feature 763 rental units and will be developed as what the company terms is a new type of residential tower called “Urban Ready Living" that responds to those seeking to live in apartments that utilize less energy and offer more innovative spaces and public areas.

The URL Harborside 1 tower, expected to be completed by mid-2016, will be the first phase of  Mack-Cali's planned Harborside development that will ultimately feature three towers comprising 2,358 residences overlooking the Manhattan skyline. When finished, URL Harborside 1 will be the tallest residential tower in the State of New Jersey.

At the groundbreaking, Jersey City Mayor Steven Fulop said of the development, “This project speaks to the vibrancy of Jersey City, where development and investment continue to thrive. Not only will this be the tallest residential building in the state, the project also incorporates sustainability elements and develops a community-style concept through public spaces.”

Mitchell E. Hersh, president and CEO of Mack-Cali, stated, “We believe there is strong demand for a live-work-play environment that offers a true sense of community–all in an amenity-rich, transit-oriented location. We chose to partner with Ironstate because of their vast experience and exceptional reputation in the development and management of high-rise residential real estate.”

The URL concept was developed by Ironstate president David Barry to provide people with innovative housing that maximizes space, reduces energy consumption, is more environmentally sustainable, offers close and easy access to public transportation, and provides public areas that foster community, company officials state. URL Harborside 1 is designed by Dutch architecture firm, Concrete.

“We're at a historic and interesting moment in the New York area,” stated Barry. “Everyone is drawn to live here, but the costs of housing can be prohibitive. To meet modern housing challenges, we need creative and thoughtful solutions. URL provides a new paradigm for how people can live and work in the city–in a way that is more affordable, sustainable and community oriented.”