CAPRE’s Northern New Jersey & Gold Coast Investment Outlook Preview: Titanium Realty Group’s Diego Hodara Says There’s No Doubt About Jersey City’s Value — It’s Here to Stay
JERSEY CITY, NJ — Diego Hodara is the founder and CEO of Titanium Realty Group, a real estate investment and development company focused on mix-use and residential real estate assets in the metropolitan area of New York. Titanium is currently developing in stages more than 350 units in Jersey City representing a total development cost of more than 100 million dollars. Diego is also partner at W Designe, a licensed and insured construction company in NY and NJ with a carpentry shop based in Westchester, NY. Diego will be a featured speaker at CAPRE’s Northern New Jersey & Gold Coast Investment Outlook in Jersey City on June 20. In preparation, we connected with Diego for a quick Q&A about why Jersey City is such a solid bet.
CAPRE: Thanks for chatting with us today Diego. Which sub-markets are you focused on in New Jersey?
Hodara: We are 100% focused on Jersey City at this moment. Although our philosophy is to focus on transit-oriented emerging markets. So that applies to Jersey City but also applies to many other areas. We’re very comfortable with the fundamentals of Jersey City, so that’s why we’re focusing on that market. We’re mainly focused on ground up development and most of our projects we do build. Basically, we want to make a mark in the community where we develop. So we like to get familiar with their needs and requirements. sometimes we have to make changes to get zoning approval, but we want to benefit everyone.
CAPRE: What are those fundamentals you mentioned?
Hodara: When we talk about fundamentals, maybe we should zoom in a bit more and go through sub-markets. Jersey City is a city of blocks, like New York City. It’s still, even if it’s small compared to New York City, it’s very diverse. So we’re interested in those different areas. There’s the PATH train and there’s the strong social and socioeconomic fundamentals, which are both great, as they’re related to average median income. In other words, it’s a transit-oriented emerging market, which is great for us.
CAPRE: What about on the flip side, what challenges exist regarding Jersey City at this moment?
Hodara: Things are always changing. One concern is that, they down-zoned an area that was zoned for many, many years. But that’s more of a concern than a challenge.
CAPRE: What kind of market movements are top of mind at this point in time? Economic, technological, demographic maybe?
Hodara: I focus on the social aspect and demographics. That’s the most important part – people are coming into Jersey City from many areas. Not just Hudson County, such as Hoboken and the Bronx and Brooklyn. They’re coming because they get much more value. Bigger space especially when compared to Brooklyn or the Bronx.
CAPRE: And why are they coming to Jersey City as opposed to other New Jersey municipalities?
Hodara: Well in Jersey City they can expect more space, less rent and more amenities. And in some cases, shorter commutes.
CAPRE: What kind of topics or themes will be particularly important at CAPRE’s upcoming CAPRE’s Northern New Jersey & Gold Coast Investment Outlook in Jersey City on June 20? What are you looking forward to learning or talking about?
Hodara: The biggest topic on my mind is capital raising. It’s always been a concern, for everybody, so it will be very valuable for everyone to learn more about the dynamics of it in New Jersey at this event. We have a lots of experience with all the different kind of capital, but there are different challenges to each, and there’s a lot of talk about.
CAPRE: What is the most exciting or promising opportunity in Jersey City?
Hodara: It’s a city that’s trending toward greatness. And it’s positioned to continue to be. There is no doubt about the value of Jersey City now, and we see the trend continuing in that way, without any stops. Even if we have a downturn in the market or a certain correction, it’s a solid trend. And that’s what is so exciting about the market.
CAPRE: Got it. Thanks for your time Diego. We’ll see you in Jersey City June 20!