Real Estate New Jersey is part ofthe Forum LOCAL series of featuresin Real Estate Forum magazine. This isan HTML version of an article that ranin the May 2014 issue of Real Estate Forum.To see the story in its original format, click here.
Some are calling it a “surge”—10,000 apartment units teemingtheir way through the pipeline in Jersey City over the next fiveyears. Others say it's an “explosion” of development, and seem abit wary of fall-out down the line. (Will rental rates, which havebeen throttling upward for years now, stop growing? Will occupancy,which is currently close to maximum, slacken?) No one, however,describes Jersey City's rapid transformation into a cool place forthe Millennial generation to live as a bolt in the wrong direction.And everybody and his sister, it appears, is jumping in with a newproject.
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