88 Morgan Street, formerly known as "Trump Plaza", is the first of two apartment complex buildings to be built in

Jersey City Jersey City is the List of municipalities in New Jersey, second-most populous

New Jersey New Jersey is a U.S. state, state located in both the Mid-Atlantic States, Mid-Atlantic and Northeastern United States, Northeastern regions of the United States. Located at the geographic hub of the urban area, heavily urbanized Northeas ...

. Trump Plaza Residences is and has 55 floors,Trump Plaza 1
/ref> and is the 7th tallest residential building in New Jersey. In 2020, the Trump name was removed from the properties and has been renamed the 88 Morgan Street Condominiums. The property was initially approved in 1999 for a twin-tower project to be known as HarborSpire, which never materialized. In 2005,

Donald Trump Donald John Trump (born June 14, 1946) is an American politician, media personality, and businessman who is the 47th president of the United States. A member of the Republican Party (United States), Republican Party, he served as the 45 ...

and Dean Geibel partnered to develop Trump Plaza on the property. The project was to consist of two towers, the first of which opened in 2008. The second tower, known as Trump Bay Street, was opened in 2016.

History

Initial plans

Since the mid-1980s, the property – located at the intersection of Washington Street and Bay Street, near the

Hudson River The Hudson River, historically the North River, is a river that flows from north to south largely through eastern New York (state), New York state. It originates in the Adirondack Mountains at Henderson Lake (New York), Henderson Lake in the ...

– had been intended for office development. In 1999, plans were approved for HarborSpire, a twin-tower apartment and retail project to be built on the property, which was being used as a parking lot. The project was to be developed by Vector Urban Renewal, a partnership of David B. Barry's The Applied Development Company (based in

Hoboken, New Jersey Hoboken ( ; ) is a City (New Jersey), city in Hudson County, New Jersey, Hudson County in the U.S. state of New Jersey. Hoboken is part of the New York metropolitan area and is the site of Hoboken Terminal, a major transportation hub. As of the ...

) and Liberty Center Associates, a group of investors from New Jersey and Florida who owned the land. The project was designed by Peter DeWitt of Manhattan, and would consist of a 55-story tower with 445 apartment units and a 50-story tower with 417 units. The towers would be made of brick, and would feature an

Art Deco Art Deco, short for the French (), is a style of visual arts, architecture, and product design that first Art Deco in Paris, appeared in Paris in the 1910s just before World War I and flourished in the United States and Europe during the 1920 ...

theme. The project would be the tallest residential building in New Jersey. In February 2001, the project received a 20-year tax abatement. The project was to be managed by Applied. Construction of the taller tower, expected to cost $80 million, was to begin in November 2001. The complex was to cost a total of $140 million, and would be built over the following four years, with construction on the second tower beginning once the first one was mostly complete. HarborSpire did not materialize, although plans for the project were revived in 2004, as a joint development between Applied and New Jersey developer Joseph Panepinto, who shortly thereafter sold their rights to the project to Metro Homes, co-founded by Dean Geibel.

Trump Plaza

Geibel met

while golfing at Trump's golf course in

Bedminster, New Jersey Bedminster is a Township (New Jersey), township in Somerset County, New Jersey, Somerset County, in the U.S. state of New Jersey. As of the 2020 United States census, the township's population was 8,272, an increase of 107 (+1.3%) from the 201 ...

. In spring 2005, Geibel began discussions with Trump about him joining the twin-tower project. Trump became involved with the project in July 2005, a month after the two towers were approved for 20-year tax abatements. Because construction permits were still pending, Trump's involvement was not announced until September 29, 2005, when he traveled to

Jersey City Jersey City is the List of municipalities in New Jersey, second-most populous

to make the announcement. Trump stated that he had a substantial investment in the new project, but did not specify how much. The two towers would include the same number of floors and units as the previously planned HarborSpire towers, and were expected to cost a total of $415 million. The towers were expected to become the tallest buildings in New Jersey, surpassing the tallest office building, the 42-story Goldman Sachs Tower; and the tallest residential building, the 40-story

Marbella Apartments The BLVD Collection (including the properties previously known as Marbella Apartments) is trio of 427 ft (130m) tall skyscrapers in Jersey City, New Jersey New Jersey is a U.S. state, state located in both the Mid-Atlantic States ...

. Construction, to be handled by

Bovis Lend Lease Lendlease is an Australian multinational construction and real estate company, headquartered in Barangaroo, Sydney, New South Wales. History Founding The company was established as Lendlease by Dick Dusseldorp in 1958 to provide finance for ...

, was expected to begin in November 2005, with occupancy expected to begin in November 2007. Condominium units went on sale in September 2006. By February 2007, 215 units had been sold, while construction had progressed to the 25th floor and occupancy was expected for March 2008. At the time, Geibel denied that the extent of Trump's involvement was the licensing of his surname: "people don't realize how much involvement he has in the project." At Trump's suggestion, the project was to feature

BMW Bayerische Motoren Werke AG, trading as BMW Group (commonly abbreviated to BMW (), sometimes anglicised as Bavarian Motor Works), is a German multinational manufacturer of vehicles and motorcycles headquartered in Munich, Bavaria, Germany. Th ...

zipcar Zipcar is an American car sharing, car-sharing company and a subsidiary of Avis Budget Group. Zipcar provides vehicle reservations to its members, billable by the minute, hour or day; members may have to pay a monthly or annual membership fee i ...

s upon its opening. Trump Plaza was designed by DeWitt Tishman Architects LLP and was completed in 2008. The building has of space and 445 units. It was, at the time, the tallest residential building in New Jersey, and the third largest building in Jersey City. The property was scheduled for foreclosure on March 6, 2013.

Second tower

The second tower, Trump Plaza II, was planned to be and have 50 floors. It was also designed by DeWitt Tishman Architects LLP. In May 2010, developer Dean Geibel retained commercial real estate firm William Procida Inc. to assist in finding investors for Trump Plaza II.Trump Plaza in The Real Deal
/ref> The second tower was delayed, and the property for it was sold several times during the

recession In economics, a recession is a business cycle contraction that occurs when there is a period of broad decline in economic activity. Recessions generally occur when there is a widespread drop in spending (an adverse demand shock). This may be tr ...

Kushner Companies Kushner Companies LLC is an American real estate developer in the New York City metropolitan area. The company's biggest presence is in the New Jersey residential market. A study published in December 2017 by ''Bloomberg News'' indicated that ...

and KABR Group purchased the land out of foreclosure in 2011, and began construction of Trump Plaza's second phase – renamed as Trump Bay Street – in May 2014. The second tower opened in November 2016.

References

External links

* * {{Trump businesses Skyscrapers in Jersey City, New Jersey Residential skyscrapers in Jersey City, New Jersey Residential buildings completed in 2008 Apartment buildings in Jersey City, New Jersey 2008 establishments in New Jersey New Classical architecture in the United States