POLL: Is Journal Square the Next Brooklyn?
These days, everything seems to get the Brooklyn stamp. The Post even went so far as to declare Pennsylvania’s Amish Country the new incarnation of the borough. But a bit closer to home, Jersey City’s Journal Square is making serious headway in the race to become the next frontier. As CityRealty.com recently explained, the slightly-inland area, easily accessible to Manhattan via the PATH train, is prime for development due to lower land and construction costs than the waterfront. At least 10 major residential projects are planned for Journal Square, and according to Ken Pasternack, chairman of developer KABR Group, “Rents for a new-development high rise will be $40 a square foot here, as opposed to $100 in Manhattan. We’re betting tens of millions of dollars that in the next 10 years, the neighborhood will be a brand on par with Brooklyn.”
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Poll images: Google Earth rendering of future Journal Square, created by CityRealty (top); Journal Squared developemnt courtesy of HWKN (bottom)
