1.76 Acres
Building Size Residential SF: 389,913 Indoor Amenity: 12,592 Retail: 935 SF Common Areas: 14,450 Total Building Area: 417,893 (Excl. Parking)
Zoning Mid-Rise Zone B
42 — July 2026 — Owners, Developers & Managers — M id A tlantic Real Estate Journal
www.marej.com O wners , D evelopers & M anagers Medical office to be converted to affordable housing ROCK CRE brokers sale of 3045 Marietta Ave., Lancaster
Development Height 12 Stories
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Public Right-Of-Way (Plaza) 8,516 SF
Existing Financing
The Development will be offered free and clear of any mortgage financing. The JLL Debt Group has underwritten the opportunity and is available for consultation. Investment Highlights
Fully Approved & Construction-Ready Development Opportunity
L
ANCASTER, PA — ROCK Commercial Real Estate , an indus-
1.76-Acre Fully Approved, 547-Unit Mixed-Use Multifamily Development Opportunity in Jersey City’s Route 440 Corridor • Fully approved 12-story mixed-use development consisting of 547 residential units, structured parking, retail space, and a public plaza. • Received Preliminary and Final Major Site Plan Approval from the Jersey City Planning Board following public hearings and a unanimous 7-0 vote. • NJDEP Treatment Works Approval secured, allowing construction of the required sanitary sewer infrastructure serving the project. • Soil Erosion and Sediment Control Certification secured through July 2026. • Current architectural plans, engineering, and survey work completed, significantly reducing predevelopment timelines. Exceptional Multifamily Market Fundamentals • The Jersey City submarket has averaged 4.9% annual rent growth over the past five years while maintaining occupancy at 94.4% within the submarket. • Jersey City continues to demonstrate strong leasing momentum, with 2,687 units absorbed in 2024 and 2,230 units absorbed in 2025, while remaining positive in 2026 with 802 units absorbed year to date, signaling sustained demand for new housing. • Existing apartment inventory within a half mile radius consists primarily of older Class B & C communities averaging more than 30 years in age, resulting in limited modern supply and historically strong occupancy levels. • Jones Lang LaSalle Americas, Inc. (“JLL”), a licensed real estate broker, has been exclusively engaged to market 20 Carbon Place (the “Property”) , a fully approved mixed-use multifamily development opportunity located within Jersey City’s rapidly transforming Route 440 Corridor. The Property consists of 1.76 acres and is approved for the development of a 12-story mixed-use residential community containing 547 apartment units, ground-floor retail space, a structured parking garage with 276 parking spaces, and a publicly accessible plaza designed to activate the streetscape and pedestrian environment. The Property has secured Preliminary and Final Major Site Plan Approval from the Jersey City Planning Board and has received key environmental and utility approvals, significantly reducing entitlement risk and providing a clear path toward construction. The approved development has been thoughtfully designed as an amenity-rich residential community. Planned amenities include a resort-style swimming pool, coworking and conference facilities, fitness center, yoga and exercise studios, sports simulator, podcast room, club room, game room, rooftop lounges, community gardens, outdoor recreation areas, tenant storage, package management systems, and 288 bicycle parking spaces. The project also incorporates an 8,500-square-foot public plaza featuring landscaped gathering spaces, rain gardens, seating areas, and pedestrian-oriented design elements intended to enhance neighborhood connectivity and activate the Carbon Place frontage. Positioned Within Jersey City’s Transforming Route 440 Corridor • Located within the Route 440–Culver Redevelopment Area, one of Jersey City’s largest long-term mixed-use redevelopment districts, governed by a structured municipal plan that supports and enables high-density residential development. • Situated adjacent to New Jersey City University within the Route 440-Culver Redevelopment Area, the Property benefits from strong multifamily fundamentals and sustained residential demand. The Jersey City West Side submarket currently maintains occupancy of 95.1%, while the broader Jersey City market continues to demonstrate exceptional leasing momentum recording 2,230 units absorbed in 2025, with an additional 802 units absorbed year-to-date in 2026. The surrounding apartment inventory remains largely comprised of older Class B and C communities averaging more than 30 years of age, creating a significant opportunity for new institutional-quality housing. Residents will benefit from convenient access to numerous NJ Transit bus routes operating along Route 440 and West Side Avenue, immediate connectivity to Route 440, Route 1&9, I-78, and the Holland Tunnel, and approximately 15-minute access to Newark Liberty International Airport. Supported by Jersey City’s continued population growth, strong multifamily fundamentals, and the scarcity of fully approved large-scale development opportunities, 20 Carbon Place presents investors and developers with the opportunity to acquire a shovel-ready multifamily project capable of delivering institutional-quality housing within one of the New York metropolitan area’s most dynamic and rapidly evolving residential markets. Exceptional regional connectivity via Route 440, Route 1&9, I-78, and the Holland Tunnel — providing direct access to Manhattan, Newark, the Hudson Waterfront employment district, and the broader Tri-State area. • Approximately 15 minutes from Newark Liberty International Airport, enhancing the Property’s appeal to a wide renter demographic. • Strong broader market demographics including average household incomes exceeding $140,000 support a deep and creditworthy renter pool. Immediately adjacent to New Jersey City University (NJCU), an institutional anchor that drives consistent residential demand highlighting the neighborhood’s long-term stabilization trajectory • Hudson-Bergen Light Rail (West Side Avenue Station) provides direct connectivity to the Jersey City waterfront, Newport, Hoboken, and Bayonne, supplemented by numerous NJ Transit bus routes along Route 440 and West Side Avenue. • Executive Summary Access Investor CA Market rents remain strong with an average effective rent of $3,840 per unit, while newly delivered Class A communities command average rents of $4,000+ per unit across the Jersey City submarket. Amenity-Rich Residential Community • Resort-style amenity package including swimming pool, coworking space, fitness center, club room, sports simulator, conference rooms, rooftop lounges, community gardens, outdoor recreation areas, and tenant storage. • Public plaza redesigned and expanded to 8,700 SF, creating a highly activated pedestrian environment if necessary. • Over 280 bicycle parking spaces and EV charging infrastructure support modern resident preferences.
try leader in South Cen- tral Penn- sylvania, an- nounced the sale of 3045 Marietta Ave. in Lancaster for $1.5 mil- lion. The 15,710 s/f, three-story primary care facility was purchased with the in- tent to con- vert to 16 sin- gle-use occu-
David Bode
3045 Marietta Ave.
“We are thrilled that the building that provided health- care to the Hempfield commu - nity for more than 30 years is being repurposed to help meet the pressing need for affordable housing,” said David Fuchs. “Factors such as floorplate and window placement, amount of plumbing, and zon- ing made this long-standing primary care facility a vi- able candidate for conversion to residential housing units through adaptive reuse,” said Mills. “It provides an oppor- tunity for the buyer, Commu- nity Basics, to create a much- needed resource utilizing the existing structure, originally built in the 1800s.” MAREJ
units for people with disabili- ties experiencing homeless- ness,” said Lisa Greener , executive director of Com- munity Basics, Inc. “The building will maintain its historic charm, with a sec- tion of its original log struc- ture preserved and minimal exterior modifications. The building is located on the bus route and near grocery stores, restaurants, essential ser- vices, and employment oppor- tunities. Community Basics will partner with Tenfold to provide supportive services at Oyster Point Landing to help residents regain stability and strengthen the community as a whole.”
Patten Mills
pancy units of affordable hous- ing. ROCK managing partner, David Bode, CCIM, SIOR , and ROCK Brokerage Advisor, Patten Mills, CCIM , repre- sented both the buyer, Oyster Point Landing Associates, LLC , and the seller, David E. and Rebecca R. Fuchs . “Community Basics, Inc. plans to transform the 1800’s era building, previously used as a physicians’ office, into 16 permanent supportive housing
Marketing Team
Jose Cruz Senior Managing Director T: 201-240-7546 j.cruz@jll.com
Ryan Robertson Senior Director T: 732-685-3864 ryan.robertson@jll.com
Property Address 20 Carbon Place, Jersey City, NJ
Total Units 547
Analytics: Ali Alkazaz | Senior Analyst | T: 856-472-6603 | ali.alkazaz@jll.com
Parking Spaces 276 (Includes ADA & EV Charging)
Block & Lot Block: 22103 / Lot 12
Financing:
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