Impact of Down-town Condo's -- Union City NJ

[Andrew Loa]

Hello all,

I am curious what people's opinions are regarding the impact of new condo's coming to the downtown Union City NJ Area. I have identified 10 decent sized projects that are Proposed or Approved w/ most slated to finish 2019ish. (Note: These #'s are based on JerseyDigs.com and other websites -- Best Estimates...). They are mostly mixed-use apartments w/ commercial store-front space and in-building parking.  All within 5 blocks from each other and represent a decent uptick in Condo supply. Additionally, it is likely these are mid-upper scale apartments but not fully Luxury and % car ownership is moderate since centrally located. 

What are your thoughts on these type of constructions? Is the added commercial space and decent increase in tax base going to be a good thing? 

Approx Address	Resi	Comm
407-413 33rd Street	30	1
3401-3409 Bergenline Avenue	28	1
3229 Bergenline Avenue	30	1
3309 Hudson Avenue	74	2
415-419 35th Street	24	2
511-519 32nd Street	32	4
540 39th Street (Silk Mills). Est.	50	0
649-651 38th St	48	0
3121 Summit Ave	45	3
719 Sip St	32	0