The Jersey City Council approved a 30-year payment in lieu of taxes (PILOT) for a 35-story, 360-unit development with 25 percent affordable housing at 701 Newark Ave. in Journal Square at last night’s meeting.
On top of those incentives, the project also commits to being built with union labor.
32 BJ SEIU NJ Political Director Adrian Orozco noted that 1,500 of their members live in the city.
“We all know Journal Square is rapidly undergoing a rapid transformation … 701 Newark Avenue would generate hundreds of jobs during construction … Long-term Journal Square residents are at risk of being priced out of their community,” he explained…