On May 14, 2025, Jersey City leaders and members of the community convened to inaugurate the building of Bayfront Promenade. This represents the first phase of a huge project to improve 95 acres of land extending along the waterfront. The city is following through on its commitment to reserve 80% of the 210 new homes for low- and middle-income families.
Highlights
- A new NY project boasts among the highest affordable set-asides in a private mixed-income development of 80 percent of units.
- They have allotted $64 million in federal tax credits awarded to fund Phase I construction.
- Completion is aimed for the summer of 2027, followed by Phase II “Cove Pointe” consisting of 1,438 units.
Project Launch and Groundbreaking Ceremony
Jersey City Mayor Steven Fulop, members of the Jersey City Redevelopment Agency, and development partners Pennrose LLC and PATHS Development LLC came together at Kellogg Street and Society Hill Drive North to officially launch construction on the Bayfront Promenade.
Union representatives highlighted that 100 percent union labor will be utilized in all construction. This effort will create hundreds of skilled jobs for residents over the next two years.
Former U.S. Senator Bob Torricelli called Bayfront “a national model to reclaim polluted sites and deliver public benefit.” JCRA Director Melissa Kazan added that this phase mirrors a shared vision set forth by the Bayfront Advisory Board. Members of the board also contributed to design guidelines and affordability goals.
Affordable Housing Breakdown
Out of 210 total units, 74 are for families who have a maximum earning of 60 percent of area median income (AMI), and 93 workforce units cater to those with a maximum earning of 120 percent of AMI. An additional 43 market-rate units will cross-subsidize affordability. The rent structure aims to balance financial sustainability with social equity. Greater Bergen Community Action will staff an on-site early childhood education center.
Land Purchase and Funding
Jersey City purchased the 100-acre Bayfront site from Honeywell for $170 million in 2018, following over two decades of cleanup. This was financed by a $400 million court-awarded settlement to Jersey City Together.
The Hudson County Improvement Authority and the New Jersey Economic Development Authority structured the deal through municipal bonds, which were approved in October 2018. This helped minimize upfront capital outlay by the city.
The financing package of Phase I comprises a $64 million federal Low-Income Housing Tax Credit, a $10 million grant from New Jersey Housing Mortgage and Finance Agency. It also includes a 30-year PILOT agreement approved in September 2023.
Planned Amenities and Community Spaces
Bayfront Promenade will include close to 10,000 sq. ft. of indoor community space, ground-level retail storefronts, and 52 covered garage parking spaces. These amenities will be accessible to both residents and the surrounding community.
Among the amenities for residents will be an enormous rooftop terrace with seating and grills. Planned amenities include a fitness and yoga studio, co-working and media lounge with high-speed internet, and bike storage with repair stations.
Public realm improvements include landscaped plazas and new street trees, LED lighting, and an accessible waterfront promenade with overlook seating. Additionally, it will house interpretative signage on the environmental history of the site.
Future Phases and Expansion Plans
Phase II, called Cove Pointe, would include 1,438 units with 35 percent affordable housing set-aside, and a 50,000 sq. ft. charter school. The second phase will also have over 23 acres of public open space designed by landscape architects specializing in adaptive reuse.
Kalel Companies and BRP Development, selected through a competitive process in late 2024, were asked to initiate improvements on the site. They will design roads and a neighborhood fire station, and extend the Hudson-Bergen Light Rail to accommodate further residential growth in the area.
Community workshops that help design the plaza and park will take place in 2025. These workshops will ensure the voices of local neighborhoods come into the process to strengthen the social fabric of the connected neighborhood.
The groundbreaking of the Bayfront Promenade is a benchmark in Jersey City’s mission to develop equitable and sustainable communities on reclaimed waterland. By developing a record 80 percent affordable housing set-aside and robust environmental resilience measures, this project establishes a new standard for urban redevelopment.
