A development group will dedicate 35% of its Jersey City Bayfront project to affordable housing under the first redevelopment agreement for the much-anticipated, massive Hackensack River waterfront mixed-use project, city officials announced Wednesday. The agreement was approved unanimously by the Jersey City Redevelopment Agency commissioners in a 6-0 vote. Under the agreement the developer, Bayfront Development Partners LLC, is purchasing the parcel for $7.5 million. Low-income households earning 60% and below the area median income (AMI) will qualify for 74 units in the proposed six-story, …
