Jersey City's West Side Draws Multifamily Developers as Waterfront Pricing Hits a Ceiling

Written by:

Heather Hook

Date:

12 Aug 2026

KeyCrew Studio

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As established corridors price out smaller developers, a growing number of multifamily investors are targeting transit-connected neighborhoods just beyond primary demand nodes, and Jersey City’s West Side is emerging as one of the clearest examples.

Jersey City’s waterfront has absorbed more than a decade of multifamily capital, and the results are visible in both the skyline and the rent rolls. But that saturation is now pushing developers to look elsewhere, not out of desperation, but out of discipline, according to Yuval Shram, Founder and CEO of TAY Investments.

Shram argues the West Side is not a fallback option but a deliberate bet on a neighborhood with structural advantages that the waterfront no longer offers at comparable entry points. “The West Side of Jersey City checks every box: transport, culture, community, and room to grow,” he says.

That framing reflects a specific investment thesis about timing and market positioning rather than simply chasing lower land costs. The neighborhood offers proximity to major employment centers while maintaining meaningfully lower land and rent costs than waterfront locations.

Transit Access As The Underwriting Anchor

For developers evaluating emerging neighborhoods, transit connectivity is the single most important factor in reducing risk. Without reliable access to employment centers, secondary neighborhoods remain speculative. With it, they become functional alternatives to more expensive primary nodes.

LAZUL WEST, TAY’s 202-unit project at 301 West Side Avenue, sits approximately a four-to-five-minute walk from the Hudson-Bergen Light Rail’s West Side Avenue Station. From there, residents can reach Downtown Jersey City and the waterfront in roughly 15 to 25 minutes, and Manhattan via PATH or Light Rail in approximately 20 to 30 minutes. Journal Square PATH — one of the region’s most important transit hubs — is accessible in about 13 minutes by rail, with a complimentary shuttle service from the building.

Shram points to this transit infrastructure as central to the neighborhood’s investability. In his view, the West Side’s light rail access effectively closes the functional gap between it and more established Jersey City neighborhoods. “It has everything we look for: proximity to transit, access to major employment hubs, and a neighborhood energy that is only getting better,” he says.

What Makes a Neighborhood Investable

The West Side’s broader development context supports this thesis. The neighborhood is anchored by the Route 440 Redevelopment Zone, the 100-acre Bayfront master plan with approximately 8,000 planned units, and the NJCU West Campus expansion, all of which point to sustained public and private investment in the area’s long-term trajectory. New Jersey City University and Saint Peter’s University provide an institutional base that stabilizes demand independent of broader market cycles.

Shram’s neighborhood selection criteria combine transit access, proximity to employment, cultural infrastructure, and what he calls “neighborhood energy,” a harder-to-quantify signal about whether a community is gaining momentum or stalling. The West Side, in his assessment, is gaining.

Developers moving into emerging neighborhoods face a different set of stakeholder dynamics than those building in established corridors, where the development pattern is already accepted. In neighborhoods still defining their identity, the relationship between developer and community can influence both project approvals and long-term leasing success. Shram acknowledges this directly: “We’re proud to be part of what’s happening here and are thankful to the City of Jersey City and the local community for allowing us to take part in their vision.”

TAY’s Adjacent-Neighborhood Strategy

Beyond LAZUL WEST, TAY has acquired a site at 212-230 Culver Avenue for a 365-unit, eight-story project that also incorporates its proprietary wellness amenity concept, with a targeted delivery in summer 2028. That sequential commitment to a single neighborhood suggests a conviction-driven strategy rather than opportunistic land assembly.

The company’s earlier project, Hue Soul, reportedly reached full lease-up, a data point that supports the argument that demand exists in non-waterfront locations when product quality and transit access are sufficient. TAY is not treating the West Side as a one-off opportunity but as a proving ground for a repeatable framework.

Whether the West Side delivers on its promise will depend on factors beyond any single developer’s control, infrastructure investment, retail activation, and the pace of broader neighborhood change. But the underlying thesis, that transit-connected, culturally active neighborhoods adjacent to saturated primary markets represent the next viable development frontier, is gaining traction across the region. TAY’s concentrated bet on Jersey City’s West Side will be an early test of whether that thesis holds at scale.

About TAY Investments

TAY Investments is a vertically integrated real estate development company headquartered in Hackensack, New Jersey, specializing in multifamily properties across the state. With in-house capabilities spanning development, general contracting, property management, and asset management, the company maintains a long-term holding strategy focused on creating exceptional residential communities in strategic locations throughout New Jersey. TAY Investments was founded by Yuval Shram, who serves as CEO.

This article is based on information provided by the expert source cited above. It is intended for general informational purposes only and does not constitute legal, financial, or real estate advice. Readers should conduct their own research and consult qualified professionals before making any real estate or financial decisions.

Disclosure: Individuals or companies mentioned may have a commercial relationship with KeyCrew.