Submitted by mad_dog_94 t3_124pbvf in jerseycity
jcnative t1_je3cg88 wrote
Reply to comment by ezmolaw in Tenants Fight Back As Rents Soar In Jersey City And Hoboken by mad_dog_94
No, the city stopped abatements to downtown maybe 7-10 years ago. Most of the abatements downtown are expiring the next few years, with some exceptions like Crystal Point. There used to be a good map here but doesn't work any more Mapping Abatements in Jersey City – Civic Parent - that has links to spreadsheets with the data incl expiry dates.
akowz t1_je478wt wrote
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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