Built in the early 20th century, The Packard is located on Charles Street, a prime block in the Heights of Jersey City. It once served as the premier showroom for the Packard Motor Car Company, which produced American luxury automobiles from 1899 through 1956. This building showcases adorned and coveted architectural features that exemplifies the vintage blue-collar industrial character that defines Jersey City's historical core. When The Ishay Group acquired the site, it recognized the vast transformation that was taking place in The Heights. Reminiscent to what The Ishay Group had experienced in Brooklyn, it noticed the eclectic demographic that began residing in the area, which supported unique shops, theatres, bars and restaurants that began to open.
Through its market research, The Ishay Group felt that a conversion from commercial to residential would be the best use for the Property. The building exterior and interior will offer a fashionable element that truly stands out in the neighborhood. The development calls for maintaining the existing facade with windows that highlight the industrial feel and stay genuine to the structure's original design intent. The building will offer its residents an industrial chic, loft living residential experience. Through working with the municipality, The Ishay Group was able to add an additional floor and create duplex apartments at the penthouse units with views of the New York City skyline. The architectural elements of the additional floor will be distinct in order to highlight the contrast between the building's historic and modern elements.
The Packard will be the inaugural development for The Ishay Group's “Res-Industrial” portfolio. The Res-Industrial portfolio will be a development portfolio that has identified and acquired interesting or historically significant industrial buildings that will serve best as either all residential or mixed use communities. Res-Industrial will strive to identify development opportunities that offer the possibility of note worthy LEED certification.
The Ishay Group LLC