Smart Money Headed To Jersey City

(Jersey City)  For those in the know, the smart money is heading to Jersey City.  This doesn’t just include housing, but key industries are looking at areas once overlooked and blighted.

While everyone couldn’t help but notice JP Morgan Chase as they announced their bold strategic stakehold in Jersey City;  the recent move by datacenters to Jersey City is getting attention.

And Jersey is deadly serious about giving incentives for businesses to make the move.  Everyone ‘in the know’ is talking about C&I “Credits & Incentives” and how these can play into savvy investment strategies.  One firm was recently given millions to move.

While some criticize the deal, I was told that First Data was in a temporary space on a lower floor.  The ‘powers that be’ wanted First Data to make a long term commitment, so they gave them a deal that was too good to pass up. Sweet deal for First Data! I would have done it too.

Jersey City’s government is also making moves to foster growth in other areas besides the waterfront.  JC’s City Hall Annex to be located on Martin Luther King Drive will bring new life to the area. While some are critical of the deal basically saying “….why rent when you can own?”;  others say this deal will have a direct and bold impact on economic development in the area.  Based on my experience in finance and banking, looks a lot like a CTF type deal to me.

In my next post, I’ll discuss 1031 exchanges, and how to take advantage of the opportunities in Jersey City while they last.

Jersey City Daycare Property For Sale

(JERSEY CITY)  I downloaded a list of New Jersey actively licensed day care centers from the state’s website yesterday after hearing about a story in the news. I was curious because my father once operated a very successful children’s daycare center at the property he is now selling located at 46 – 48 Martin Luther King Dr.

Nursery Room 46 MLK Drive

Nursery Room at 46 Martin Luther King Drive – Jersey City, NJ

A couple of times he has decided to retire, and has bent over backwards to help new entrepreneurs get into business.  Suffice it to say, getting into business is a lot different than staying in business.

There is a certain dynamic to successfully operating a business that the community will support in Jersey City.  Childcare is certainly one of those businesses that can be profitable, but they must have strong management.  The consumer need is definitely there.

Childrens Classroom Area 3 at 46 MLK Drive HUBZONE

Children’s Classroom Area 3

If you look at the census data, and compare this to available child care daycare centers in the area; on the surface, there is a shortage of daycare centers.  When you reduce the list to childcare centers that actually have a good reputation the list gets shorter.  Not all daycare are created equal.

Even if you have a nice facility, and strong management, you can still be handicapped by hiring the wrong people.  Based on my experience, you can put yourself ‘out of business’ by putting the wrong people on your payroll. Hiring people just because you know them?  Start counting the days until closure.

Classroom 2 - 46 MLK Drive

Children’s Classroom Area 2

The employees often don’t realize that ‘WASTE IS NOT YOUR FRIEND’.  Every dollar wasted is a dollar that won’t be available to pay expenses of the business, or be available for growth opportunity to take the business to new levels of profitability.

Take our building at 46 Martin Luther King Dr, which is for sale at the moment.  It was a licensed child daycare facility. So why is it closed today?  Retirement.  This retirement was expedited because, the older you get, sometimes you just get tired of telling people over and over to do the same things that they should be doing anyway. And when you hire, friends, family, and friends of family – a lot of baggage comes along the way.

In response to the needs of the community, honestly, I’ve been thinking about re-opening the children’s daycare center at 46 Martin Luther King Dr.  If nothing else, it would let me return to something I miss and really enjoyed.  Nearly every morning, my father and I would meet early in the morning, and have coffee.  We talk about everything. We’d debate. Strategize, consider new ideas, address challenges, solve problems, etc. I didn’t always agree with my father on everything. But we’d agreed on most things (90%).

My father is a lot more nicer in business than I am. He tends to want to give people chances, and tolerates a lot.  I look at things from a more analytical, number perspective.  Often, he reasoning, and unique way of approaching things astonishes me!

Children's Classroom Area 1 - 46 Martin Luther King Drive

Childrens’s Classroom Area 1

If I were to re-open the daycare center, I would do things a lot differently.  People have come to us and asked us to re-open the children’s daycare center. I even taken a survey and asked a sampling of community residents what they feel would make a good daycare in TODAYS present market.  Their feedback was amazing.

Kitchen - 46 MLK Dr

Children’s Daycare Kitchen at 46 Martin Luther King Dr Property Currently For Sale

As you can see from the photos, our facility is very, very clean, and well maintained. Our community appreciates the way the facility is always kept very clean, and in excellent condition.

Bathroom Boys - 46 MLK Dr

Bathroom for Boys at Daycare 46 Martin Luther King Drive

Although the market demographics are changing, this facility is well positioned to serve all families in the community.

When we operated the facility, we were licensed and approved for over 100+ kids.

Girls Bathroom - Daycare - 46 MLK Drive, Jersey City NJ

Girls Daycare Bathroom at 46 MLK Drive For Sale

Truthfully, I’m considering re-opening the facility if it doesn’t sell.  It’s a great opportunity for someone with fleet feet, who can act and move quickly. At least I have a few months to make up my mind. That gives me more than enough time to talk more with parents in the area, and consider some new technology integration, that could improve the quality of service.

It would also give me more time with my father, and we could return to our regular morning coffees together.

Security Office - 46 MLK Drive HUBZone

Security Office – Surveillance Room

If you’re thinking about purchasing a child daycare facility, I would urge you to consider our building at 46 – 48 Martin Luther King Drive.  It’s for sale.  But, we might change our minds. We’d be more than happy to work with you and share our contacts, our experience, and network with you.  This is a HUGE VALUE ADD and could save you years of headache and put you on the fast track to prosperity. If you’re interesting in talking about this, use the form below, and we’ll get back to you shortly. Have a great day.

Mayor Fulop Greets Nancy Pelosi at Job Training Center

All Eyes On Me! Jersey City In Spotlight For Jobs Training

ALL HANDS ON DECK AS JERSEY CITY JOB TRAINING TAKES CENTER STAGE

(Jersey City, NJ)  Nationally known strategic partners from BOTH political parties were on hand to support Jersey City Mayor Steve Fulop’s concentrated focus on job training, reducing crime, and business development.

Mayor Fulop Greets Nancy Pelosi at Job Training Center

Mayor Steve Fulop Greets House Minority Leader Nancy Pelosi at the Martin’s Place Training Center Grand Opening

Mayor Fulop is demonstrating his unique ability as a ‘consolidator’ by bringing everyone together to focus on the number one issue I believe facing the revival of one of Jersey City’s communities – JOBS!  At center stage is reducing crime, and helping people successfully re-enter society and becoming productive members of the community.

Rep Nancy Pelosi greets crowd at Job Training Center in Jersey City

Rep. Nancy Pelosi Addresses the Community at Grand Opening of Martin’s Place Job Training Center in Jersey City

Showing strong support for Mayor Fulop’s initiative were Sen. Bob Menendez (D), former Gov. Brendan Byrne (D), former Gov Jim McGreevey (D), Gov. Chris Christie (R) and former Gov. Thomas Kean (R).  You can read more about this event HERE.

Gov McGreevey at Job Training Center

Former Gov Jim McGreevey at Grand Opening of Martin’s Place Job Training Center

There can be no doubt that there will be a renewed focus on job training and related services.  The MLK corridor is an excellent location to relocate your existing community based organization.

The property at 46 – 48 Martin Luther King Drive is ideally suited as a strategic community center and can serve as your headquarters are service delivery location. A number of grants, and contracting opportunities are available to assist the new property owners serve the community.

If you’d like to work with someone who has job training and contracting experience, feel free to use the tool below and someone will get back to you.

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