“Three or four years ago, when you would mention Jersey City to people, you’d get a concerned look. Now everybody wants to know more. It’s a much different conversation,” Natalie Miniard, the owner of JCity Realty, told The New York Times in February.
Indeed, the reputation of Jersey City has quickly changed from gritty to vibrant and family friendly as it has experienced a huge boom in both its real estate development and population. The population in Jersey City has grown 6 percent from 2010 to 2014 according to US Census data, and over 4,200 new residential units are scheduled to be completed in 2016. Jersey City is the fastest growing metropolitan area in New Jersey, according to the Times.
It’s not hard to see the lure of Jersey City as it sheds its gritty image — a fast and convenient commute to Downtown Manhattan via the PATH train, a vibrant arts community in Journal Square, local coffee shops and eateries.
The Second Annual Jersey City Summit for Real Estate Investment will take place next month on October 13th at 70 Hudson Street on the top floor overlooking the Manhattan skyline and Downtown Jersey City.
The full day conference will include panel discussions on such topics as emerging neighborhoods, retail development, the unique tech community, and the outlook for the office market in Jersey City.
Notable speakers include Paul Silverman of SILVERMAN, Michael Stone of Cushman & Wakefield, Rajiv Patel of Spear Street Capital and James C. Barrood of the NJ Tech Council.
As Jersey City continues to grow and gentrify, it is becoming a viable alternative to the Manhattan market where many homebuyers have been priced out. Consider the median price of a new condo in Jersey City is about $840,000 when compared to the median price of nearly $5 million across the river in Downtown Manhattan, according to BuzzBuzzHome’s Market Snapshot.
Visit InvestJersey.city to register for the Summit for Real Estate.