Jersey City’s Development Boom: 9th Largest Downtown Area in the U.S.

JERSEY CITY, New Jersey — The Fourth Annual New Jersey Gold Coast & Spring Multifamily Summit, attended by more than 400 real estate professionals brought focus to the health of the Hudson County commercial real estate arena, notably where trends are pointing, and the near-and-future development and investment outlook of the region. 45 expert speakers, who represent the region's most active developers, investors, capital sources and tenants participated in the full-day summit. In attendance for the conference's opening discussion were Mitchell S. Berkey, Co-Chair, Real Estate, Development and Land Use Group, Chiesa Shahinian & Giantomasi PC; Adam Altman, Principal, Partner & Managing Director, The KABR Group; Jose R. Cruz, Senior Managing Director, HFF, L.P.; David P. Donnelly, Executive Director, Jersey City Redevelopment Agency; Jonathan P. Schwartz, Partner & Executive Vice President, BNE Real Estate Group; Gabriel B. Shiff, Chief Investment Officer, Roseland; Dave Surti, Director of Acquisitions, Advance Realty and Russell Tepper, Senior Managing Director, Northeast, Mill Creek Residential Trust. The panel was moderated by Mr. Berkey. The discussion began with panel moderator Mitchell Berkey of Chiesa Shahinian & Giantomasi PC inquiring about target markets coming online in the near term, and how will they impact the overall market. David Donnelly, Executive Director of the Jersey City Redevelopment Agency, began by examining the demographics of the market he sees moving into the New Jersey Gold Coast area. Donnelly explained that the class A space in New Jersey is priced competitively…