1st Reading - Jersey City

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, Portion of PJP Landfll Site, Jersey City New JerseyExplanation of Adjustments (conti,nued)Physical Condition (continued)As previously reported, the subject site willikely require extraordinary siteengineering and preparation work before it can support modern warehouse ',construètion. MalcolmPirnie estimates that the site development cost caused bythe ground conditions at the subject site wil add approximately $9,500,000 to theoverall building cost. While the cost estimate is preliminary, there is no questionthat some level of additional costwill be incurred at the subject site. ComparableSale 1, which is part of the same landfil, has nearly identical site conditionsandwil require similar pilng work. This sale did not require an adjustment. The site, preparation work for the remaining foursales was analyzed. None of the salesrequired site 'preparation work similar to the subject., Therèfore, these sales wereadjusted downward to account for their superior geotechnical Conditions.(VALUE REEARCH GROUP, LLC 30
Portion of PJP Landfill Site, Jersey City New JerseyComparable Sales Adjustment GridSale Number: .. .l .. .. ~Address: Route 1 &9 108 Baywày Ave 600 North Ave E County Road 909 Delancy St.Jersey City, NJ Elii:abeth, NJ Elizabeth, NJ Jersey City, NJ Newark, NJSale Date: 3/7/08 4/27/2007 11/29/2006 12/28/2005 5/251'¡'005Sale~ricè: $15,450,000 $8,750,000 $10,600,000 ' $15',273,720 $18,720,000Lot Size (acre): 49.150 acres 20.858 acres 28.912 acres 40.914 acres 54.580 acresPrice/acre: $314,344/acre $419,503/acre $366,630/acre $373,313/acre $342,983/acrePotential Building sf (FAR): 878,000-sf 350,000-sf 629,700-sf 712,OOQ-sf 750,000-sfPrice/FAR: $17.60/sf $25.00/sf $16.83/sf $21.45/sf $24. 96/sfAdjustments, Time/Market Conditions: 0.00% 0.00% 0.00% 12.50% 12.50%Adjusted Price/FAR: $17.60/sf $25.00/sf $16.83/sf $24.13/sf, $28.08/sf,Adjusted Price/Acre: $314,344/acre $419,503/acre $366,630/acre $419,977 /acre $385,856/acreLocation: 0.00% 0.00% 0.00% 0.00% 0.00%Size: 0.00% 0.00% 0.00% 0.00% 0.00%Approvals: 0.00% 0.00% 0.00% 0.00% 0.00%Physical: ' 0.00% -20.00% -10.00% -20.00% -20.00%Net Adjustment: 0.00% ~20.00% -10.00% -20.00% -20.00%Adjusted Price/FAR: $17.60/sf $20,OO/sf $15,15/sf $19.31/sf $22.46/sfAdjusted Price/Acre: $314,344/acre $335,603/acre $329,967/acre $335,982/acre $308,684/acreVALUE REEARCH GROUP, LLC 31
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Cit Clerk File No.Ordi 11-001Agenda
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City Clerk File No.. Agenda No.Agen
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. .Continuation of City Ordinance11
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COntinuatlònof City Ordinance 11-0
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Continuation of City Ordinance ll-U
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Continuation of City Ordinance11-.0
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LIBERTY HARBOR REDEVELOPMENT PLANMA
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. VIII. MAS .................;.....
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I. ,BOUNDARY DESCRIPTION, BEGINING
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C. ' Duration and Effective Date of
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This redevelopment plan authorizes
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y providing the pedestran environme
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or mechanical floor area adjacent t
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project sne. -V. ,Parking and servi
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, 'The Planing Board may grant devi
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C. Restriction of Occupancy or UseT
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1. Maximum height: heightshall be r
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. Buildings shall be constrcted on
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porton of the façade of the parkin
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econstrcted, non-conforrity with th
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MAPSc,, , ,, 25
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"CIRCULATION MAP.b~BiJt BO.UNOARY -
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-Residential, Mixed-UseDistrict Bou
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o~~. r--------------------'~ I r r
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~ __Ø)'June 2010MAP NO.9/ '
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o~"~zu~-LEGENDi- ~'.--------,.....,
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1-- -_~- -- ~- ~- --- ~~- ---'\LEGE
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Cit Clerk File No.Agenda No.Agenda
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ORDINANCE FACT SHEETDate Submitted
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TABLE OF CONTENTSAmendments to the
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The following Map Footnotes shall b
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11.-- DESCRIPTION OF PROJECTA. Rede
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golf courses, driving ranges, water
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· In no instance, no matter what t
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d. Modem, decorative, pedestrian fr
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StudioI Bedroom2 Bedroom & above0.5
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various plant species to be usedber
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d. Entrances and exits to parking a
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Additionally, the logo and/or hotel
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c. Golf Clubhoused. Professional an
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In addition, all areas of the roof
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11. Additional Step-back Requiremen
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, structures in poor condition and
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./,LIBERTY HARBOR REDEVELOPMENT ARE
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CIRCULATION MAPLEGEND'---- BO.UNOAR
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LEGEND_...-Libert HarborRedevelopme
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lIBERTV DRIVEIIIIIIII,-- - - - - -
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og0-"~~mnmmTDmnrnmn- L ' ,"ORRiS '
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Page 102 and 103: Cit Clerk File No.Agenda No.Agenda
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Page 116 and 117: EXHIBIT BMETES AND BOUNDS(TO,BE PRO
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Page 160 and 161: Continuation of City Ordinance11-00
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Page 164 and 165: City Clerk File No,Agenda No.Agenda
Page 166 and 167: Cit Clerk File No. Ord. 11-0093. IA
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1st Reading - Jersey City

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