Submitted by mad_dog_94 t3_124pbvf in jerseycity
akowz t1_je478wt wrote
Reply to comment by jcnative in Tenants Fight Back As Rents Soar In Jersey City And Hoboken by mad_dog_94
I dont think this is true. Your reference was posted in 2015, so thats why you wouldn't have any of the newer buildings. But jersey city has been granting abatements since then and many run for decades from now. Examples below:
(A 2022 construction project loses its previously-granted 20 year abatement after inactivity)
(Tax abatement until 2040 for Crystal Point)
https://www.sec.gov/Archives/edgar/data/924901/000156276222000205/R35.htm
(The new Haus25 has an abatement until 2047)
jcnative t1_je7x71t wrote
Fulop stopped awarding abatements a while back. Has Steve Fulop evolved on tax abatements? - nj.com Future Jersey City tax abatements will add to school funding - nj.com
Crystal Point was developed around 2010, I think they only got a 30 year because it was extended when no one was buying.
Haus25 is a special case because of the school, as the link above mentions.
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