Over the last 25 years, the Jersey City waterfront area has been undergoing a multi-billion dollar gentrification. Decaying factories and rail yards have been replaced with luxury high rises including the $450 million dollar Trump Plaza. At the time this photo was taken (May 2009), Tower I was complete and stood about 50 stories. Right beside it is the shuttered 20th century subway power station - a reminder of Jersey City's unattractive, industrial past.