Exodus to… Union City?


I was reading a recent copy of the Real Estate Quarterly, a publication from NJBiz – and noticed a feature article about neighboring Union City that you might be interested in.

“A Window of Opportunity”

The article touches on the “brave” developments happening in Union City (which is even more densely populated than Hoboken), the demographics, retail environment, and proximity to New York City.

the thread union city a window of opportunity - Exodus to... Union City?

One of the developments mentioned is The Thread building.

They said that the affordable prices, modern amenities and stunning views have helped the building almost sell 50% of the units already. Even more compelling is the fact that Union City property taxes are incredibly low compared to Hoboken (under $900 a year for a one bedroom!) Here’s an excerpt:

Using Hoboken’s property taxes as a competitive edge

“We designed the units to be competitively priced,” Kizel said, adding that it is cheaper than similar units in Hoboken and Jersey City.

The building’s amenities include community rooms that have a country-club feel, with pool and card tables, flat-screen TVs, and a bar; a gym; and modern appliances and ornamental lighting inside the homes. Union City’s people are an industrious lot, Wainstein said, as most of the 200 businesses in its urban enterprise zone are family-owned retail establishments, like clothing and food stores, pharmacies, and gift shops. The 3.5 percent sales tax in the zone helps draw business also from neighboring cities, and the city’s multiethnic demographic makes for diversity in shopping alternatives, he added.

“It seems Union City will become like Hoboken soon enough,” Olmo said. “People moving into Union City don’t want to spend the money on Hoboken, where [property] taxes are high.”

What are your thoughts? Would YOU move to Union City?
(click the above image to read full story)

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Monday, February 23, 2009 10:19 pm

[quote comment=”137561″]I always has been and still is anything past Willow.

(though there are some pretty nice newer condos north west)[/quote]

As someone who moved from Hudson Street to west of Willow, I’ve discovered a whole new Hoboken.

Monday, February 23, 2009 7:51 pm

The public school system is more effective than Hoboken’s.

Monday, February 23, 2009 2:50 am

I rented in Hoboken for 12 years and recently purchased in UC. I now live on 11th and Palisades. I was looking in Hoboken for a place the prices were insane there. I got a 3 (thats three) bedroom, 2 bathroom, large deck and parking for less that a basement studio in Hoboken. And I got the tax abatement. I lived uptown in Hoboken so mostly took the bus, living in UC is no big change. I now take the 123 instead of the 126. The 123 doesn’t come quite as often but I just plan a little better. When I first moved to hoboken you had to plan for the 126. Many of the restaurants deliver up here. Now that I have parking I don’t mind taking the car to pick up food. We still go to shoprite and tucker drugs. Cuban sandwiches are good and cheap up here. We drive to a great produce market on Kennedy in JC. It is so much cheaper than Hoboken. I miss walking down Washington and running into store owners and people I know. I am meeting people here now. Even in the short time I’m here I have seen things progressing forward. It’s much quieter here too. As far as prices my upstairs neighbor just went for refinancing and his appraisal was higher that when he purchased. Come on up and take a look around. check out my 2 favorite websites for real esate. Trulia.com and zillow.com. You can see for… Read more »

Saturday, February 21, 2009 1:52 pm

[quote comment=”137638″]Question is – what if you don’t care or need to go into NYC? Not every person needs to go there frequently.[/quote]
I personally do not work in Manhattan. I’m a consultant, I work all over. Planes, trains, and automobiles make my ‘commute’. My commute is nowadays only 10 minutes to newport, but just this past month it was a 6 hour flight to Seattle.

I still would never live anywhere else. The way I see it, I only typically get my weekends home, so it better be good and worth it. Hoboken is much more than a commuter town, it has a lot going on its own. Believe me, I’ve been around ** many ** cities, big and small all over the states and nothing compares, at least for me.

Hoboken’s location is very convenient for me; easy access to NYC, easy access to highways, and only 20 minutes to Newark airport. Regardless of its flaws, the best airport in the area, period.

Tama Murden
Tama Murden
Saturday, February 21, 2009 1:29 pm

Re 39: Pretty spot-on, if the NYC commute works—e.g., the jitneys to the PA.

But then the PA is a transit hub for elsewhere.

Just be careful re the tax stuff for anything up for purchase-consideration.

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