Listen to this article

Jesse Toledano has worked in Jersey City for, roughly, the last dozen years.

Following the pandemic, he helped launch Modern Spaces‘ office there, where he serves as managing director. Since, Toledano says the real estate group has put more than 500 units on the market in Jersey City — with another 500 in the pipeline.

While Modern Spaces has handled downtown work, he says the heart of its business is in McGinley Square, where there’s plenty of development going on.

“It has, I think, more of a residential backbone to it than Journal Square does,” Toledano told NJBIZ. “McGinley Square has always kind of been the residential hub of Jersey City, historically speaking, and now it seems to be returning to that.”

Rev. Roger McGinley was the first pastor at St. Aedan’s Roman Catholic church in Jersey City, leading the congregation until his death in April 1936. Widely respected and celebrated, he was responsible for building up the parish, as well as physical structures (among them a school, convent and a new church). According to the McGinley Square Special Improvement District, the construction and completion of the church project took 18 years. Finished with a price tag of $1 million, more than 4,000 people – inside and out – attended the building’s dedication mass in October 1931.

Now, a plaque in recognition of McGinley, the man, hangs at the corner of Bergen Avenue and Montgomery Street. Erected in 1968 in McGinley Square, more broadly the neighborhood sits just south of Journal Square and west of the 273.4-acre Lincoln Park. Centered squarely within is Saint Peter’s University.

McGinley Square features a mix of residential offerings, mirroring the city writ large. According to the Jersey City Redevelopment Agency, the neighborhood boasts a high concentration of one- and two-family residences, with 75% of all area housing comprised of rental units.

That mix of housing options has diversified while new development efforts are underway in the area.

Among Modern Spaces’ local assignments are:

• 55 Jordan: Launched two years ago, pricing for the 267 units at 55 Jordan Ave. range from $1,650-$3,600 per month.
• 99 Storms: The 50-residence property at 99 Storms Ave. stands six stories with prices ranging from $1,875-$3,225 per month.
• Orchard: 55 Orchard St. will bring 285 units across 16 floors, with a fifth-floor coworking space. Prices range from $2,000-$2,4000 per month.

Amenity features across the trio of properties include attendants during the daytime; gym, lounge, rooftop and outdoor deck, and coworking-like spaces; communal laundry facilities; and more.

While Modern Spaces doesn’t get a lot of students from Saint Peter’s signing on as tenants, they sign plenty from other area schools, such as New York University, Stevens Institute of Technology and Parsons School of Design.

Turning the tide

In 2012, New Jersey Future recognized efforts to revitalize McGinley Square with its prestigious Smart Growth Award. The plan called for new retail, restaurants and entertainment options as well as affordable and workforce housing. According to NJ Future, the Jersey City project answered the challenge of how to “revitalize a distressed but active urban neighborhood in a way that provides maximum benefit to its diverse communities.”

Along with expansion at Saint Peter’s University, one of the largest residential historic rehabilitations in the U.S. also helped usher in a new era in the neighborhood.

“The Beacon certainly led the way,” Toledano said of the six-building multifamily complex that reimagined the original home of Jersey City Medical Center. Now, the gated community offers a mix of studio, one-, two- and three-bedroom units along with amenities. Its unit count is upwards of 1,100.

In 2020, a 58-unit mixed-use new construction project, The Fairmont, traded for $23.75 million, underlying investment interests in the area.

This month, Jersey City Mayor Steven Fulop was in attendance to celebrate the grand opening of a new mixed-income housing community in McGinley Square from The Community Builders. Fairview Heights brings 92 new units to the neighborhood with 52 residences dedicated to affordable housing.

The nine-story building located at 43 Fairview Ave. features studio, one-, two- and three-bedroom apartments. Fairview Heights also offers a rooftop deck with views of Manhattan. Units include a bathroom, kitchen and energy efficient appliances. Additional amenities are also available, such as: a first-floor laundry room with adjoining children’s playroom, a community lounge with kitchenette and screening area, and a fitness room.

“By prioritizing low- and mixed-income development, we are adding affordable housing opportunities at historic rates throughout Jersey City and Fairview Heights is another important achievement on this front, with more than half of the 90 units reserved for income-restricted families,” Fulop said during the ceremony. “We are proud to partner with The Community Builders on this project, bringing the former YMCA complex back to life in an important way and welcoming families to a safe place they can now call home.”

In 2022, nonprofit developer TCB converted a historic YMCA in the neighborhood into 111 renovated homes for formerly homeless Jersey City residents. According to the organization, together Fairview Heights and the YMCA project (Bergenview) represent an $81.5 million investment in McGinley Square.

“As a mixed-income community, Fairview Heights is a model of equitable development, delivering modern amenities to both market-rate renters and families of more modest means,” said TCB New York/New Jersey Regional Vice President of Real Estate Development Jesse Batus. “This accomplishment would not have been possible without the support of Mayor Fulop, NJHMFA, and our many partners, stakeholders, and neighbors. My sincere thanks to all of those who brought this vision to reality.”

Fairview Heights achieved ENERGY STAR and Enterprise Green Communities certifications.

Funding for the project was provided by the City of Jersey City, Hudson County, TD Bank, Boston Financial, Community Preservation Corp., Federal Home Loan Mortgage Co., New Jersey Housing and Mortgage Finance Agency, New Jersey Community Capital and New Hope Community Capital.

Inglese Architecture + Engineering is the project architect. Sisca Northeast Associates is the general contractor.

Welcome to the neighborhood

Projects like those from TCB or marketed by Modern Spaces fulfill the McGinley Square redevelopment plan’s goal to bring new development to the area. “The intent is to maintain and enhance an open network of streets interconnected within the area, as well as with the surrounding neighborhoods and to create usable open spaces for social interaction,” the plan reads. “Convenient retail facilities and services are envisioned, along with business offices, a hotel, a movie theater, a range of housing types for various income brackets, education facilities and student housing for Saint Peters University.”

In the neighborhood, those efforts tap into an existing cultural baseline, according to Toledano. “McGinley Square in Jersey City is not just a location; it’s a vibrant community and a promising business hub that welcomes innovation and growth,” the area’s SID writes in a blog post offering support to business owners on its website. “Whether you’re a seasoned entrepreneur or a first-time business owner, opening a new business in McGinley Square could be the key to your success. Let us guide you through the exciting journey of establishing your enterprise in this dynamic neighborhood.”

The welcoming atmosphere helps residents new and old feel like they’re tapping into something bigger.

“It help[s] make the tenants feel like there’s a neighborhood that they’re building [within their properties], because it’s already there and it’s been built. … And there’s also a very strong, kind of sense of community,” Toledano said of the residences he’s worked on in McGinley Square.

And while those options continue to grow, commercial offerings are also building up the neighborhood and its community. Centered in McGinley Square proper, the main retail center extends outward along Bergen Avenue, according to Toledano. In particular, he highlighted Cafe Alyce (the state’s No. 3 best restaurant in 2021, as per NJ.com) as “a very strong driver”; Snapdragon Coffee & Social, which also hosts events; and Crema, another coffee shop with a heavy artistic influence.

“There’s ITA Italian Kitchen, which is packed every night,” Toledano said, adding that a new Wingstop hosts happy hours “that really bring the community together in a strong way.”

The McGinley Square SID, McGinley Square Partnership, helps drive home that communal aspect in the area. In a post on the SID’s Instagram page, Four Fitness Jersey City trainer Cat Munson says community is her favorite thing about McGinley Square.

“I’m from Brooklyn, N.Y., so coming and moving to Jersey City, N.J., was a complete 360 for me. But in my three years of living here and working here and being a part of the community, it’s the thing I respect most … and I’m just so glad to be a part of it,” she says in the video.

View this post on Instagram

A post shared by McGinley Square Partnership (@mcginleysqsid)

Niche puts the neighborhood population at roughly 17,100 citizens. With an overall B+ grade from the website, McGinley Square earned highest marks for Nightlife (A) and Diversity (A+); Public Schools (C) and Housing (D-) received the lowest scores.

Walk Score gives McGinley Square a 93, identifying it as “a walker’s paradise” where it does not require a car to complete daily errands.

“That’s what a new generation wants – a new generation of residents, not age-wise but just people moving to urban centers or sub centers – to be able to walk and get their daily needs and go to work and all without having to get in a car or deal with a significant commute,” Toldano said.

Just close enough

As for what isn’t in the neighborhood, he points out that it’s easy enough to get around the city to access live events, arts and more. “As far as culture goes, Jersey City is very connected in that way,” Toledano said. If there’s a “concert at White Eagle Hall, it’s seen as a cultural benefit for many neighborhoods.”

And now “As Journal Square’s thriving and now you see the big, tall apartment buildings and a lot of businesses moving in there, and more chain restaurants and stores,” all that activity does resonate.

Stemming from its roots as a transportation hub, McGinley Square is well-connected. Located a little more than a half mile south of the Journal Square Transportation Center, that facility is serviced by both the PATH line from Newark to lower Manhattan and the PATH line from Journal Square to midtown Manhattan. Several bus lines also depart from the Transportation Center as well as cross McGinley Square.

Toledano said he thinks McGinley Square has “its own heartbeat in a way,” while Journal Square “doesn’t quite feel as much as a lived-in neighborhood … It’s busier; more of a hub.”

A diverse group of renters comprise the less-bustling neighborhood, Toldedano added, which presents an “attractive option” to higher-demand and higher-cost parts of the city. “It’s not chasing those same prices,” he said.

For example, in Bergen Lafayette, west of Liberty State Park, new residential offerings are rising higher and offering up a different, more “luxury” experience.

The city celebrated the debut of Atlas (at 26 stories) and Starling in that neighborhood this month, from Alpine Residential and Fields Grade. The collection will ultimately feature nearly 1,000 apartments across five mixed-use buildings.

However, “I think McGinley Square has the bones to eventually become a much bigger neighborhood than Bergen Lafayette ever can,” Toledano said.

He highlighted the area’s potential, particularly extending along Monticello Avenue.

“There are a lot of significant pieces of land that are slated for development along Montgomery, as well,” he added. “So, there’ll be a lot more buildings like 55 Jordan and 55 Orchard, whereas that will be limited in Bergen-Lafayette, so they’ll kind of not grow to be competing with each other.”

As the neighborhood continues to distinguish itself, Toledano is optimistic about what’s to come.

99 Storms hit 90% leased in just about a month, according to him, marking the fastest-paced project Modern Spaces has handled yet. Meanwhile, 55 Orchard also boasts leasing momentum, securing 10% occupancy in under a month.

“There was an article years ago about a small coffee shop on Palisade opening up in The Heights in the New York Times, when they had featured The Heights as ‘the new neighborhood,’” Toldedano said. “And the coffee shop opened, and all these people realized they live in the same neighborhood.”

Those are the kinds of connections he sees cropping up and reinforced in McGinley Square.

“And I think Wingstop and these couple of coffee shops and these restaurants – and now these public spaces to hang out in – I think the dots are connecting,” he said.