A 60-story tower with a new supermarket could join an area that is already set for a massive transformation right across from the Sixth Street Embankment in Downtown Jersey City.
The high-rise is expected to be built on Marin Boulevard, in the parking lot area of the 18-acre Metro Plaza. The 802-unit project will be developed by G&S Investors, which is working to transform the plaza into Hudson Exchange.
G&S Investors Chief Operating Officer Abe Naparstek told The Jersey Journal a new ShopRite will be located on the second floor of the building and eventually replace the current ShopRite across the street. He said the current supermarket will close when the new one opens.
“Jersey City is really one of the most dynamic markets for large-scale development projects such as this,” Naparstek said. “One of the commitments we made was to always keep ShopRite on the site.
“We are really excited to continue the momentum of the Hudson Exchange and deliver on our commitment to keeping ShopRite in Jersey City at this site for generations to come.”
Wakefern Food Corp., the primary company that owns the Metro Plaza ShopRite, could not be reached for comment.
The Metro Plaza has been in the process of being reshaped into Hudson Exchange since 2015 when plans were in place to build a 35-story tower to replace the Pep Boys automotive store. The tower was the first phase of a massive revamp of the 18-acre Metro Plaza shopping center, which includes a BJ’s Wholesale Club and a now-shuttered Bed Bath & Beyond.
The whole development of the entire Metro Plaza will be done over the course of six phases. The high-rise with the ShopRite is part of phase two.
The ShopRite will be a total of 85,000 square feet. The 60-story high-rise will have 538 vehicle parking spaces and include 19,000 square feet of retail on the ground floor. The developer has also increased the amount of open space that will be available from 115,000 to 138,500 square feet for the 18 acres of land.
Naparstek said there will be three levels of parking for the store and the apartments. He said he hopes to start construction this year and should take three years to complete.
The developer went in front of the planning board in April for some minor modifications to the area’s redevelopment plan, but still needs site plan approval before it goes forward. Naparstek said it will be a “handful of months” before it gets to that point.
The site is at the east end of the Sixth Street Embankment, the subject of a 17-year-long tug of war between Jersey City and Conrail. The city has been in the process of moving the project forward to turn the embankment into an elevated park with a redevelopment plan.
“We also worked closely with the embankment coalition to ensure that if and when the embankment moves forward, our projects are coordinated closely,” Naparstek said. “We have a whole plaza area on the corner of Sixth Street and Marin Boulevard that will be a public area to sort of receive the people coming from the embankment.”
The site is also located south of Newport Centre Mall.
“We think Hudson Exchange is a phenomenal project,” Naparstek said. “We think it is one of the most exciting development opportunities in the region.
“It is just so rare to develop 18 acres of land in this market, so you are going to have a significant amount of ground-floor retail with great restaurants and amenities.”
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