Bubble Wrap
Entry
Downturn strikes at Hudson's heart
The Jersey Journal considers the effect of the Wall Street crisis on the Jersey City real estate market as the financial industry has driven most of the city’s growth in recent years.
Developers of housing projects who cannot unload condos will probably look to Jersey City to help bail them out. They will line up to rework their tax abatement deals similar to that given by the city to Canco Lofts, the development at the old American Can Company property on Dey Street, which now makes lower in-lieu-of-taxes payments than originally agreed.
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posted about 14 months ago
