Keep up with essential planning news and commentary, delivered to your inbox every Monday and Thursday.
Jersey City Building More Apartment Than Manhattan
Jersey City is on track to add as many new apartment units as Manhattan, according to an article by Chris Fry.
Fry is citing analysis from a recent study published by RENTCafé, a California-based company that tracks real estate trends. Fry also notes the regions adding new apartments fasted in the whole country, namely Dallas-Forth Worth and Seattle, before digging into the details at the local level in and around the Big Apple.
"Jersey City is seeing some serious development this year, as it’s planning to deliver 2,111 new apartments," according to Fry. "That total is just a shade under what’s coming online in Manhattan, which is slated to bring 2,143 units to the market in 2019." To be fair, there is one market in New York City outpacing both Manhattan and Jersey City. Brooklyn is adding 3,140 apartments this year.