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Tishman Speyer acquired the land beneath its major mixed-use development in Jersey City.

Rising at 50 and 55 Hudson St., the two-tower project will add nearly 2,000 new apartments, more than 70,000 square feet of retail space and an approximately 32,000-square-foot public plaza. Standing 48 stories, and higher, views will incorporate New York Harbor, the Paulus Hook neighborhood and the Manhattan skyline. The development will directly connect to the Jersey City waterfront.

According to Tishman Speyer CEO Rob Speyer, the acquisition underscores its “conviction in the neighborhood” as well as its long-term vision for the project. “With 50 and 55 Hudson, we are making a lasting impact on the Jersey City waterfront,” Speyer commented in a March 18 announcement.

What’s in store

Construction began on 55 Hudson St. in December. The 58-story tower will comprise 1,017 rental apartments and about 60,000 square feet of new, street-level retail. Its debut is expected in early 2027.

Meanwhile, phase two, at 50 Hudson St., will stand 48 stories. The 924-unit rental building will offer studio to two-bedroom apartments as well as 10,000 square feet of retail.

Both buildings will include amenity space. At 55 Hudson St., that will total 75,000 square feet, indoors and out.

Approved by the Jersey City Planning Board in late 2022, the project secured a $300 million construction loan at the end of last year. The funds from Otera Capital represented the full financing for 55 Hudson Street, Jersey Digs reported at the time.

The towers will rise adjacent to the PATH, Light Rail and ferries, offering optimal connectivity to Manhattan.

Design for the building comes from a team including Handel Architects, Marchetto Higgins Stieve Architects, landscape architects Hollander Design and Melillo Bauer Carman, and interior designer Michaelis Boyd, Tishman Speyer said.

The company added that each building will have Energy Star-certified appliances as well as pursue Fitwel certifications.

In the past year, New York-based Tishman Speyer said it added 1,100 units across three residential communities (Boston, Atlanta and Chicago). At the same time, the real estate owner, developer, operator and investment manager got to work on approximately 2,300 new units.

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