Paulus Hook Goldman Sachs parking lot, waiting for new residential tower constructionSubmitted by mwc665324 t3_yxg1m6 in jerseycity
down_up__left_right t1_iwqld58 wrote
Reply to comment by Ilanaspax in Paulus Hook Goldman Sachs parking lot, waiting for new residential tower construction by mwc665324
The problem here is that you think new construction is the reason people have and are still moving to Jersey City.
The real reason most people have and are still moving to Jersey City is because it’s right next to one of the biggest job centers in the entire country.
People would have come and will still come even if the housing stock is not increased.
Turning a parking lot into hundreds of homes means hundreds of people not trying to rent or buy existing homes.
Ilanaspax t1_iwr1qt4 wrote
Wow so I guess we didn't need those tax abatements handed out like candy back in the day to encourage development then if Jersey City was so enticing on its own?
moobycow t1_iwr4kvj wrote
Probably not, but then the prices of the existing stock would have had to gone up more before the projects penciled out.
Ilanaspax t1_iwr5ekq wrote
sure buddy
down_up__left_right t1_iwr65ev wrote
Generally no. Those are usually unneeded giveaways that exist because of corruption.
Those kinds of giveaway also exist in Manhattan and you can't accuse Manhattan of not being an in demand area.
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