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Coordinates: 40°42′N 74°02′W / 40.7°N 74.033°W / 40.7; -74.033 Exchange Place is a district of Downtown Jersey City, New Jersey that is sometimes referred to as "Wall Street West" due to the concentration of financial concerns which have offices there. The namesake is a square of about 200 feet long at the foot of Montgomery Street at the Hudson River which was created by landfilling of the shore at Paulus Hook and has been major transportation hub since the colonial era.[1]

Exchange Place at the Hudson River

.

Exchange Place, seen from Lower Manhattan
Hudson-Bergen Light Rail trains at the Exchange Place station
Looking south to Exchange Place
A memorial made from steel girders of the World Trade Center
Katyn Memorial
Looking west at Exchange Place
Several lines originate at Exchange Place

Contents

Vicinity

A high concentration of highrise office and residential buildings in the city are located in the district radiating from Exchange Place, which since the 1990s has overtaken Journal Square as Hudson County's major business district. The Mack-Cali building is host to several nesting sites for Peregrine Falcons. The New Jersey Department of Environmental Protection, Division of Fish & Wildlife, maintains a Jersey City Peregrine Cam at some of the sites on the building. A statue commemorating the Katyn massacre is sited on the square. The Hudson River Waterfront Walkway crosses Exchange, the other side of which is J. Owen Grundy Park, extending into the Hudson River. To the south are the Colgate Clock, New York Waterway Paulus Hook Ferry Terminal, and Goldman Sachs Tower, the tallest building in New Jersey. The riverfront promenadee ends at the Morris Canal Little Basin, part of Liberty State Park. To the north is the former warehouse now housing Harborside Financial Center.

History as transportation hub

The first steam ferry service in New York Harbor and the world was established in 1812 by Robert Livingston (1746-1813) and Robert Fulton and travelled between Paulus Hook and Cortlandt Street in Manhattan.[2] The ferry dock stood at the head of the important highway to Newark (and points west and south) established in 1795.[3] The ferry in turn influenced the location of the terminal of the New Jersey Railroad, which opened in 1838 running from the ferry dock via Newark to New Brunswick. The railroad purchased the ferry operation in 1853[4] and in 1858 built a much-needed larger intermodal terminal. After acquiring the railroad in 1871, the Pennsylvania Railroad replaced the terminal in 1876 and yet again in 1888-1892[5]. Passengers could move directly between the trains and ferries without going outside (a similar plan can still be seen today at Hoboken Terminal). The railroad referred to the location simply as Jersey City, and if necessary to distinguish it from other railroads' terminals, as the Pennsylvania station.

It was probably the street railways, the local transportation in Jersey City, that first needed to identify the location more precisely as Exchange Place. Beginning with horsecars in 1860, the local network connected the ferry with neighborhoods in the city and nearby towns. An off-street terminal called "Exchange Place" was established in 1891. It was almost at the water's edge, across the street from the Pennsylvania Railroad terminal and with easy access to the ferries[6]. Cars with signs reading EXCHANGE PLACE could be seen all over town.

The Hudson and Manhattan Railroad opened its tunnels from Exchange Place to New York in 1910[7]. Significantly, the station was at first called "Pennsylvania Railroad Station", not Exchange Place[8], but by 1916 the name was expanded to include "Exchange Place"[9]. By 1926 the H & M station was simply "Exchange Place"[10]. The Pennsylvania Railroad did not officially give in until some years later, but all the stations, and the neighborhood, were firmly known as Exchange Place by the 1920s.

For many years functioned similarly to Hudson Place farther up the Hudson waterfront as a terminus for many trolley lines which crisscrossed Hudson County. At one time more than ten lines operated by the Public Service Railway originated/terminated[11] Bustitution was completed in 1949.[12]

Ferry was also discontinued in 1949[13], and while Pennsylvania Railroad service dwindled after the opening of Penn Station in New York in 1910, it did not end until 1962[14]. Following the end of service on the Jersey City Branch, the remains of the large terminal were demolished, leaving a large open space on the waterfront. This and the elimination of other railroad passenger and freight yards along the river during the 1960s and 1970s opened up the land that would be used for redevelopment. The continued use of the name "Exchange Place" was based on the Hudson and Manhattan station (PATH since 1962) and signs on the bus routes that had replaced the trolleys.

Transportation

PATH

HBLR

Ferry

Pennsylvania Railroad Station

Bus

Route destination major points
1
limited service

NJT[15]
Newark-Ivy Hill

via Newark-Ironbound
and Downtown Newark

West Side
Lincoln Highway-Kearny Point
Ferry Street/Raymond Boulevard
Market Street
4


R&T[16]

Greenville Grove Street Station
Communipaw Junction
Danforth Avenue
Curries Woods
43
limited service

NJT[17]
Downtown Newark Kearny
80



NJT[18]
Greenville
Old Bergen Road
Newark Avenue
Five Corners
India Square
JSQ
West Side Avenue
Danforth Avenue
81



NJT[19]
Bayonne
via Greenville
Grove Street Station
Communipaw Junction
Danforth Avenue
Curries Woods
82



NJT[20]
Greenville
regular service
Hudson County Correction Facilty
limited service
Newark Avenue
West Side Avenue
or

Lincoln Highway
limited service

86

AM and PM peak service

NJT[21]
Bergenline Station Grove Street Station
Newark Avenue
9th/Congress Station
Weehawken Water Tower


West Side

A&C
Country Village Grove Street Station
Van Vorst Park
McGinley Square
West Side Avenue
Danforth Avenue

See also

List of Public Service Railway lines List of ferries across the Hudson River in New York City

References

  1. ^ [1] NJCU:Jersey City then and Now]
  2. ^ Brian J. Cudahy, Over and Back. New York: Fordham University Press, 1990. p20-24,360,362.
  3. ^ John T. Cunningham, Newark. Newark: New Jersey Historical Society, 1966. p84-85.
  4. ^ Brian J. Cudahy, Over and Back. New York: Fordham University Press, 1990. p59.
  5. ^ Carl Condit, The Port of New York. Chicago: University of Chicago Press, 1980. v1 p46-52,152-168.
  6. ^ John Harrington Riley, The Newark City Subway Lines. 1987. p194.
  7. ^ Carl Condit, The Port of New York. Chicago: University of Chicago Press, 1980. v1 p247-254.
  8. ^ Official Guide of the Railways. January 1910, p.68.
  9. ^ Official Guide of the Railways. June 1916, p.397.
  10. ^ Official Guide of the Railways. February 1926, p.308.
  11. ^ List of Public Service Railway lines. (2009, October 30). In Wikipedia, The Free Encyclopedia. Retrieved 23:31, November 13, 2009, from http://en.wikipedia.org/w/index.php?title=List_of_Public_Service_Railway_lines&oldid=322871098
  12. ^ French, Kenneth, Images of Rail: Railroads of Hoboken and Jersey City,Arcadia Publishing, 2002, p125, ISBN 978073850966-2
  13. ^ Brian J. Cudahy, Over and Back. New York: Fordham University Press, 1990. p362.
  14. ^ Carl Condit, The Port of New York. Chicago: University of Chicago Press, 1981. v2 p228.
  15. ^ NJT bus 1 schedule
  16. ^ Route 4 schedule
  17. ^ NJT bus 43 schedule
  18. ^ NJT 80 schedule
  19. ^ NJT 81 schedule
  20. ^ NJT 83 schedule
  21. ^ NJT 86 schedule

]]

Jersey City
neighborhoods
Downtown
-Hamilton Park
-Newport
-Powerhouse
-Van Vorst Park
-Exchange Place
-Paulus Hook
-Harsimus Cove
The Heights
-Western Slope
Journal Square
-Bergen Square
-McGinley Square
-Marion Section
-India Square
-Five Corners
West Side
-Lincoln Park/West Bergen
-Society Hill
-Hackensack Riverfront
Croxton
Greenville
-Port Liberté
Bergen-Lafayette

Exchange Place is a district of Downtown Jersey City, New Jersey at the Hudson River that is sometimes referred to as "Wall Street West" due to the concentration of financial concerns which have offices there. The namesake is a street of about 200 feet long at the mouth of the Hudson River which has long been major transportation hub.

A high concentration of highrise office and residential buildings in the city are located near Exchange Place along the Hudson Waterfront which since the 1990s has overtaken Journal Square as Hudson County's major business district. The area is served by the Exchange Place PATH station and the Exchange Place station on the Hudson-Bergen Light Rail, and is the terminus for numerous New Jersey Transit buses.

Features

  • A statue dedicated to the Katyn massacre is featured in front of the Exchange Place station.
  • The Mack-Cali building is host to several nesting sites for Peregrine Falcons. The New Jersey Department of Environmental Protection, Division of Fish & Wildlife, maintains a Jersey City Peregrine Cam at some of the sites on the building.
  • Goldman Sachs Tower, the tallest building in New Jersey

Transport hub

Paulus Hook was the New Jersey side of the Cortlandt St Ferry to New York, established in 1812 by Robert Livingston (1746-1813) and Robert Fulton. It was the first steam ferry service in New York Harbor and the world.[1] The ferry dock stood at the head of the important highway to Newark (and points west and south) established in 1795.[2] The ferry in turn influenced the location of the terminal of the New Jersey Railroad, which opened in 1838 running from the ferry dock via Newark to New Brunswick. The railroad purchased the ferry operation in 1853[3] and in 1858 built a much-needed larger intermodal terminal. After acquiring the railroad in 1871, the Pennsylvania Railroad replaced the terminal in 1876 and yet again in 1888-1892[4]. Passengers could move directly between the trains and ferries without going outside (a similar plan can still be seen today at Hoboken Terminal). The railroad referred to the location simply as Jersey City, and if necessary to distinguish it from other railroads' terminals, as the Pennsylvania station.

Jersey City
neighborhoods
Downtown
-Hamilton Park
-Newport
-Powerhouse
-Van Vorst Park
-Exchange Place
-Paulus Hook
-Harsimus Cove
The Heights
-Western Slope
Journal Square
-Bergen Square
-McGinley Square
-Marion Section
-India Square
-Five Corners
West Side
-Lincoln Park/West Bergen
-Society Hill
-Hackensack Riverfront
Croxton
Greenville
-Port Liberté
Bergen-Lafayette
Coordinates: 40°42′N 74°02′W / 40.7°N 74.033°W / 40.7; -74.033

It was probably the street railways, the local transportation in Jersey City, that first needed to identify the location more precisely as Exchange Place. Beginning with horsecars in 1860, the local network connected the ferry with neighborhoods in the city and nearby towns. An off-street terminal called "Exchange Place" was established in 1891. It was almost at the water's edge, across the street from the Pennsylvania Railroad terminal and with easy access to the ferries[5]. Cars with signs reading EXCHANGE PLACE could be seen all over town.

The Hudson and Manhattan Railroad opened its tunnels from Exchange Place to New York in 1910[6]. Significantly, the station was at first called "Pennsylvania Railroad Station", not Exchange Place[7], but by 1916 the name was expanded to include "Exchange Place"[8]. By 1926 the H & M station was simply "Exchange Place"[9]. The Pennsylvania Railroad did not officially give in until some years later, but all the stations, and the neighborhood, were firmly known as Exchange Place by the 1920s.

The ferry continued to run until 1949[10], and while Pennsylvania Railroad service dwindled after the opening of Penn Station in New York in 1910, it did not end until 1962[11]. Following the end of railroad service, the remains of the large terminal were demolished, leaving a large open space on the waterfront. This and the elimination of other railroad passenger and freight yards along the river during the 1960s and 1970s opened up the land that would be used for redevelopment. The continued use of the name "Exchange Place" was based on the Hudson and Manhattan station (PATH since 1962) and signs on the bus routes that had replaced the trolleys.

References

  1. Brian J. Cudahy, Over and Back. New York: Fordham University Press, 1990. p20-24,360,362.
  2. John T. Cunningham, Newark. Newark: New Jersey Historical Society, 1966. p84-85.
  3. Brian J. Cudahy, Over and Back. New York: Fordham University Press, 1990. p59.
  4. Carl Condit, The Port of New York. Chicago: University of Chicago Press, 1980. v1 p46-52,152-168.
  5. John Harrington Riley, The Newark City Subway Lines. 1987. p194.
  6. Carl Condit, The Port of New York. Chicago: University of Chicago Press, 1980. v1 p247-254.
  7. Official Guide of the Railways. January 1910, p.68.
  8. Official Guide of the Railways. June 1916, p.397.
  9. Official Guide of the Railways. February 1926, p.308.
  10. Brian J. Cudahy, Over and Back. New York: Fordham University Press, 1990. p362.
  11. Carl Condit, The Port of New York. Chicago: University of Chicago Press, 1981. v2 p228.







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