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Demand is high for waterfront rentals offering maintenance-free living

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By Lori Crowell, Special to The Star-Ledger

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There is a unique lifestyle afforded to those who live in the Garden State’s waterfront rental communities. From Hudson County to the Jersey Shore, these residences offer an unbeatable location and amenities without the responsibilities of homeownership.

Now under development by PCD Development LLC, The Atwater is a new luxury rental community situated along the Hackensack River in Bogota. The 421-unit project is comprised of four-story buildings and one five-story building that also contains a clubhouse on the first floor and street-level retail space. Residences include a mix of studio, one- and two-bedroom floor plans. Tenants also benefit from an 8,000-square-foot clubhouse, 20,000 square feet of outdoor amenities and a location 5.5 miles outside of New York City. Leasing for the first phase of 303 rental residences will commence this fall.

“Since the Great Recession, there has been increased demand for multifamily rentals, particularly for new construction projects that offer a host of modern, top-of-the-line on-site amenities and are in proximity to New York City,” said Jon Stein, founder/managing member of PCD Development LLC. “We’ve seen this demand from all demographic types, from young singles and couples who could not afford the down payment on a home, to those trading down because they appreciate the convenience that luxury rental living provides.”

Since the COVID-19 pandemic began, this demand has accelerated, noted Stein, particularly along the waterfront as more people seek housing alternatives outside of Manhattan. “Within our own portfolio, we have seen significant interest in suburban rentals that offer an easy commute to the city, particularly as people are rethinking how many days they can — and want — to go into the office. The Atwater is a terrific alternative for those migrating from Manhattan wanting more space and a simpler quality of life.”

And, The Atwater’s thoughtful design takes today’s telecommuting trend into consideration, Stein said. “Because we were developing The Atwater during the pandemic, we had the opportunity to do lot of redesign to accommodate the growing number of individuals now working from home,” he said. For example, the community’s business center is designed with individual pods where people can work safely in their own space; there also is an outdoor work area allowing residents to work poolside when weather permits. As an enhanced safety measure, all indoor amenity areas will be kept clean with UV sanitizing equipment.

Residences at The Atwater include 9-foot ceilings, luxury plank flooring, a full-size washer and dryer in each unit, gracious kitchens and bathrooms, and private balconies and patios. Clubhouse amenities include a clubroom with billiards and bar, a resident lounge with fireplace, a state-of-the-art fitness center, a yoga studio, a game/arcade room, a business center, a coffee bar, a library, a children’s playroom, indoor bike storage and a dog washing station. Outside, residents enjoy a heated pool and sun deck, barbecue grills, an outdoor theater, a riverfront walkway (80,000-plus square feet), landscaped lawns, a dog park and fire pits.

Located on the Downtown Jersey City waterfront facing Manhattan, Jersey City Urby is a 69-story tower featuring 762 studio, one- and two-bedroom rental residences with sweeping views of New York City. The building’s 200 Greene St. address is at the nexus of Jersey City’s waterfront, Exchange Place and Downtown. Residents are steps from the light rail, Harborside ferry and Exchange Place PATH station for a short commute into Manhattan or an easy trip to downtown Newark and Newark Liberty International Airport.

A project of development partners Ironstate Development Co. and Mack-Cali and designed by Amsterdam-based firm Concrete, Jersey City Urby’s social spaces include the 9 Bar Café in the lobby, an authentic Italian café with light fare open to residents and the public seven days a week. Residents also enjoy a study, garden room lounge, fully equipped gym and yoga studio and a communal kitchen. The 9th floor deck features a saltwater pool and patio, barbecues, pocket park and Woofgarden dog run — all with the stunning Manhattan skyline and Hudson River as the backdrop.

Urby also provides commuters with seamless access to Manhattan, 7 minutes via the Exchange Place PATH station, located one block from the building, and 6 to 8 minutes (depending on

destination) via the Harborside NY Waterway ferry terminal. The Hudson-Bergen Light Rail stop is located directly at the building and provides access up and down the New Jersey waterfront.

At Barnegat 67 in historic Barnegat Township, active adults age 55 and older enjoy gracious residences and a host of on-site amenities. Phase I of Barnegat 67 is now fully leased, and the community is leasing Phase II with move-ins expected later this summer. Developed by Extell Development Co., this one-of-a-kind community allows residents to experience hassle-free living, according to Moshe Botnick, vice-president of development.

“Ocean County has long been a popular destination for active adult communities but the fact that Barnegat 67 is a rental makes it unique,” Botnick said. “Our tenants enjoy beautiful homes and plenty of on-site amenities, along with the unrivaled flexibility that apartment living provides. All this comes at the price of a monthly mortgage payment but without having to worry about interior/exterior maintenance, snow removal or repairs that come with home ownership. It’s a quality of life that many retirees, or those nearing retirement, find extremely attractive.”

Botnick added that there are financial benefits to renting as well: Many adult renters opt to sell their existing single-family homes and use the proceeds to supplement retirement income, travel and pursue other interests.

Barnegat 67’s on-site indoor/outdoor amenities include a large indoor club-lounge and bar with billiards, free Wi-Fi-enabled workstations,  card tables, and an outdoor rooftop terrace with grilling stations, outdoor theater, a dog run, a bocce court and more. The two-story main residential lobby is accompanied by two secondary elevator-equipped entrance lobbies to allow for ease of access to each apartment. Also located on-site are a Planet Fitness facility, Dunkin’, and Pan Asia restaurant along with additional dining options, service providers and medical practitioners that provide additional convenience to residents of the complex.
Barnegat 67 units feature beautifully crafted finishes that ensure comfort and convenience. Every apartment includes stone countertops, stainless-steel appliance packages, 9-foot ceilings, and in-unit washers and dryers.

Situated on the peninsula at Bayonne Harbor is Bayonne Bay, a waterfront community comprised of six spacious one-, two- and three-bedroom floor plans complemented by a host of on-site amenities. Apartments at Bayonne Bay include gourmet kitchens with 42-inch cabinets featuring  under-cabinet lighting, granite countertops, tile backsplashes and a stainless-steel GE appliance package; tiled bathrooms with granite countertops; wood-grain ceramic tile or vinyl plank floor in the main living area; plush carpeting in the bedrooms; a full-sized, side-by-side washer and dryer; energy-efficient LED lighting throughout; and abundant closet space (walk-in closets in most units).

The Club at Bayonne Bay contributes to the community’s resort-at-home-lifestyle. Amenities in the 21,000-square-foot clubhouse include two levels of state-of-the-art fitness and movement studios, an elegant clubroom with billiards and lounge seating, and a Laptop Lounge with private conference room. Outside, residents can cool off in the lap pool with walk-in sun deck, and James J. Donovan Park is nestled in the center of the community.