X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

HOBOKEN, NJ-Fields Development Group, based here, is set to launch the development of several residential condominium projects in Northern New Jersey, with a total unit count of more than 550. Four of the projects are situated in this Hudson River waterfront city and the neighboring Jersey City and Weehawken.

“These areas continue to appeal to a diverse buyer profile, from young working professionals to empty nesters, who appreciate living amid urban charm and conveniences,” says Robert Caulfield, a Fields principal. “In fact, demand for new homes here greatly outstrips supply. We’re creating these new communities to help fill that void.”

Notable among the various projects is the Waldo Lofts, a 12-story building in Jersey City that will contain 82 lofts along with a ground-floor retail component. The price tag for the project has been set at $22 million. Artist-related uses are a major component of the building.

“We’ve worked closely with the Jersey City planning board and the local artist community to incorporate a number of features into the building that are designed with the work/live needs of artists in mind,” says James Caulfield Jr., another principal of the firm. “A portion of the retail space will be devoted to artists-related uses, for example, and the lobby of the building will be utilized as a gallery.”

While initially being marketed directly to artists looking to live and work in the same space, the property’s units will eventually be made available to the general public as well, according to Caulfield.

Besides the Waldo Lofts, other Fields projects being launched in the waterfront cities include 601 9th St. here, a 52-unit mid-rise condo complex. Also in Hoboken, the company is developing 615 Adams St., a 16-unit property. And in nearby Weehawken, Fields is developing 203 Hackensack Plank Rd., another 16-unit condominium property. Sites of the rest of the communities involved in Fields’ current 550-unit push have not been announced.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.