Jersey City’s Renaissance Puts Mayor’s Ally in a Squeeze
After a longtime associate of Mayor Steve Fulop failed to pay taxes on millions earned from real estate developers, federal investigators started asking questions.
The skyline of Jersey City, New Jersey, as seen from Weehawken, New Jersey.
Photographer: Gary Hershorn/Corbis via Getty Images
Not long ago the skyline of Jersey City consisted of little more than abandoned warehouses, rotting piers and the Statue of Liberty. Now it sparkles with luxury residential high-rises and back-office towers of financial firms including Citigroup, Fidelity Investments and Goldman Sachs.
The city’s grit-to-glamour makeover has accelerated the last six years under Democratic Mayor Steve Fulop. Favoring tax incentives and less cumbersome regulation, he has been a boon for developers, including Mack-Cali, Lefrak, China Overseas America and Hartz Mountain, which have constructed tens of thousands of new living units.