"NEW LIFE TO OLD MEDICAL CENTER" - Jersey Journal
Posted: Mon Nov 12, 2007 1:12 pmIt appears that the shuttle now goes to JSQ. I must have missed this tidbit from George's last letter. Was this announced during one of our recent fire drills?
http://www.nj.com/news/jjournal/jerseyc ... xml&coll=3
NEW LIFE TO OLD MEDICAL CENTER
Monday, November 12, 2007
PAUL KOEPP
JOURNAL STAFF WRITER
Life is being breathed into the old Jersey City Medical Center, Mayor Frank Hague's Depression-era model for medical services for the poor.
George Filopoulos, president of Manhattan-based Metrovest Equities, recently gave city officials a tour of the Beacon condo complex after they attended a ribbon-cutting for the new police motorcycle garage around the corner on Cornelison Avenue.
The developer spent $1.4 million to build the garage and is leasing it to the city for $1 a year for 10 years.
Prices are a bit steeper at the Beacon, with one-bedroom condos starting at $370,000 and two-bedroom units at $550,000, plus a $550 monthly maintenance fee. The penthouse of the Capital building has already sold for $2.3 million, Filopoulos said.
Workers were polishing floors and doing exterior work at the Capital and the attached Rialto. Of the two buildings' 315 units, 275 are under contract and 200 are occupied, Filopoulos said.
The first phase of the project also includes 103 units in the Mercury building expected to be ready in late 2008 and going on sale next month, and 110 units in the Orpheum, slated for completion in 2009.
The entire project will eventually have 1,200 units in 10 buildings at a cost close to $400 million, according to Filopoulos, who said the hardest part is fixing the buildings' facades.
"Until you strip away the brick, you don't know how much brick you have to replace and how much steel you have to replace," he said.
Metrovest is trying to recapture the buildings' Art Deco feel by restoring the original 1930s light fixtures and paint colors in the halls and lobbies. A refurbished bas relief made of 24 marble panels weighing 800 pounds each adorns the walls of the former Rialto entrance, now a billiards room. Down the hall, Mayor Hague's office is being turned into a poker room and the old auditorium has become a great room and events center.
The complex offers high-end amenities like a spa, indoor grotto and shuttle service to the Journal Square PATH station.
© 2007 The Jersey Journal
© 2007 NJ.com All Rights Reserved.
http://www.nj.com/news/jjournal/jerseyc ... xml&coll=3
NEW LIFE TO OLD MEDICAL CENTER
Monday, November 12, 2007
PAUL KOEPP
JOURNAL STAFF WRITER
Life is being breathed into the old Jersey City Medical Center, Mayor Frank Hague's Depression-era model for medical services for the poor.
George Filopoulos, president of Manhattan-based Metrovest Equities, recently gave city officials a tour of the Beacon condo complex after they attended a ribbon-cutting for the new police motorcycle garage around the corner on Cornelison Avenue.
The developer spent $1.4 million to build the garage and is leasing it to the city for $1 a year for 10 years.
Prices are a bit steeper at the Beacon, with one-bedroom condos starting at $370,000 and two-bedroom units at $550,000, plus a $550 monthly maintenance fee. The penthouse of the Capital building has already sold for $2.3 million, Filopoulos said.
Workers were polishing floors and doing exterior work at the Capital and the attached Rialto. Of the two buildings' 315 units, 275 are under contract and 200 are occupied, Filopoulos said.
The first phase of the project also includes 103 units in the Mercury building expected to be ready in late 2008 and going on sale next month, and 110 units in the Orpheum, slated for completion in 2009.
The entire project will eventually have 1,200 units in 10 buildings at a cost close to $400 million, according to Filopoulos, who said the hardest part is fixing the buildings' facades.
"Until you strip away the brick, you don't know how much brick you have to replace and how much steel you have to replace," he said.
Metrovest is trying to recapture the buildings' Art Deco feel by restoring the original 1930s light fixtures and paint colors in the halls and lobbies. A refurbished bas relief made of 24 marble panels weighing 800 pounds each adorns the walls of the former Rialto entrance, now a billiards room. Down the hall, Mayor Hague's office is being turned into a poker room and the old auditorium has become a great room and events center.
The complex offers high-end amenities like a spa, indoor grotto and shuttle service to the Journal Square PATH station.
© 2007 The Jersey Journal
© 2007 NJ.com All Rights Reserved.