News Details (Posted: February 14, 2008):

Polishing New Jersey's Waterfront into a Gold Coast

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Written by: Giovanna Aguilar with Candesco Productions Email: GAguilar@CandescoProductions.c­om For: New Jersey Gold Coast Real Estate, LLC Newsletter. For those of us who grew up in the surrounding towns along New Jersey's Hudson waterfront before the region was coined "the New Jersey Gold Coast ," we can surely remember sections of the area filled with narrow roads, worn-down piers, and abandoned warehouses. Yet, even then we were proud to call the area our home and understood the privileges of living in a place unlike any other part of the country-proximity to New York City, unmatched spectacular views of the financial and theater capital of the world. Yes, that glorious skyline. Yet before the Hudson west bank became the Gold Coast that we know today, and way before our time, there was another golden era. The 18-mile stretch that makes up New Jersey's Gold Coast was an integral part of the industrial revolution during the late 1800s and early 1900s. Its geographical closeness to New York City and access to harbors led to the rise in the construction of railroads and to the popularity of ports for trading. These factors presented employment opportunities that made the region appealing to residential development, as well. Subsequently, Bayonne, Jersey City, and the surrounding towns grew into working-class residential communities. However, when the tunnels and bridge connecting New Jersey with Manhattan were completed, both the construction of railroads and the usage of ports halted. This led to a downturn in the area's economic development, leaving only the Hoboken train terminal as a product of that era's industrial boom. Interestingly enough, the attributes seen at the dawn of the industrial revolution were what inspired real estate developers, Arthur Imperatore and other entrepreneurs to help polish New Jersey's west bank into the Gold Coast that we know today. During the mid-eighties, commercial developers recognized the potential of the area and began to set forth a plan for turning New Jersey's waterfront into a thriving community of residential and commercial properties. Concurrently, Imperatore understood that the key to making the region's development successful was to offer an easier and faster commute between both sides of the Hudson. At the time, going to see the Broadway musical Cats or any other show was typically a choice between a bus or car ride via the George Washington Bridge or the Lincoln Tunnel. In 1986, Imperatore established the Port Imperial Ferry in Weehawken, known today as NY Waterway. This new transportation source for commuters helped bring growth to the area. Subsequently, the early 1990s became the decade that brought glimmer back to the neglected industrial region. The winding and narrow roads began to be replaced by wider avenues that could support higher transportation demands. Previously abandoned shops were knocked down and rebuilt into luxurious homes or residential high rises. The region has since been transformed into a thriving area of plush residences, high-end retail shops and restaurants. The Gold Coast has also become the quarters of service-based industries, from media companies to financial services to home-based businesses. Growth has revolved around promoting a lifestyle philosophy: a better quality of life with upscale living, but with reduced cost of living expenses when compared to New York City. Eighteen years have passed since then, and we continue to be proud of calling the New Jersey Gold Coast our home. Today, the Gold Coast is not only a cluster of 13 towns that bridge Hudson and Bergen counties, but it is representative of a mindset that fosters foresight and prosperity, one that reaches beyond our borders. It all began with a spectacular view that led visionaries to pave the way to the renaissance of New Jersey's waterfront, leading to the moniker of our home, "the New Jersey Gold Coast." The Benefits of Living on the Gold Coast: Enhanced quality of life Unified region Stellar views Lower cost of living compared to New York City Easy access to public transportation Vast selection of restaurants and retail stores Hudson County Bayonne Jersey City Hoboken Union City Weehawken West New York Guttenberg North Bergen Bergen County Fairview Cliffside Park Edgewater Fort Lee Englewood Cliffs