With nation-wide demand to be anywhere near New York City, one would think that all existing land that could have been developed at this point would already be occupied. And some would say that this, indeed, is the case. Up until recently, developers have been gun-shy about developing areas that were considered “off limits” within the industry. These areas were considered too industrial, or just hadn’t been considered by developers to be viable options for whatever reason. But Sandy Weiss of Manhattan Building Co. stepped on the scene and changed the game, seeing opportunity where others only saw a lost cause.
Breaking All the Rules by Breaking Ground
This is not the first time Weiss has changed the game in residential development. In the 90’s, he breathed new life into areas of Hoboken that were considered no man’s land, and has now developed these areas to become booming residential areas and communities. He believes that transforming old industrial areas into beautiful communities for luxury homes is a new trend that has been emerging, with the growing popularity of the industrial aesthetic as a creative twist on luxury.
The new residences are being developed along Jersey Avenue, close to 18th street. Manhattan Building Co. has already finished one of the planned developments and broke ground on the next round (Cast Iron Lofts II) in mid September. The current project is slated to be a 232-unit luxury development, with units being intended for renters. This project is estimated to take a total of 22 months and is one of many planned for the area.
A New Project Based on an Old Agenda
If at first you don’t succeed—try, try again. Turns out, that’s what the developers of New Jersey’s new SoHo West neighborhood are doing for developers of the past. Maps dating all the way back to as early as 1873 show that previous developers had big plans to expand this area all the way to Hoboken, but plans didn’t go through and the area became industrialized in the blank years between then and now. While other developers have been too hesitant to pick these plans back up, Manhattan Building Co. and the Cast Iron Lofts project are pioneers, but not without reason. This is not the first underrated community they have developed from the ground up (literally), and they have all the confidence in the world that this project will bring the same successes as earlier endeavors.
Building Lofts, Building the Neighborhood, Building Community
This project comes following many other successful projects prior, such as the Sky Club in Hoboken and the Sugar House in Paulus Hook. Many of these projects have changed the whole energy of their communies, and that is what Weiss envisions doing for SoHo West. Although the area is very new, retailers such as Best Buy and Target have already come to place their bets on the community, and Cast Iron Lofts is making sure that other elements are in place for residents too, such as complimentary shuttle service to transportation methods like the bus, ferry and train. Residents will find the area a comfortable and restful place to call home.