Josh Barrow

The Port Authority is scheduled to finalize a lease with Starbucks to open a store inside the Journal Square PATH station sometime next year. AP Photo/Ted S. Warren

(Ted S. Warren)

JERSEY CITY -- Starbucks lovers may soon be able to get their Frapuccino fix at the Journal Square PATH station.

The Port Authority of New York and New Jersey is scheduled to finalize a lease with the gourmet coffee giant at the agency's commissioners meeting next week, a deal that would give Starbucks its first proper Jersey City location outside of the Downtown.

The move is another signal of the changes coming to the center of the city, which city officials for decades have attempted to revitalize. Five towers of luxury housing are planned for the lots surrounding the PATH hub, while another is slated for across the street, on the former site of The Jersey Journal's headquarters.

Developers are also targeting sites within walking distance of Journal Square, including at the former home to the Mueller's pasta factory and near the old home of Puccini's banquet hall.

The news is good for real-estate agents and home sellers: real-estate research group Zillow found last year that the value of homes within a quarter-mile of a Starbucks rise faster than those that aren't.

The Journal Square Starbucks would be 2,079 square feet on the PATH hub's ground level, adjacent to the new PJ Ryan's Squared. The 10-year lease would bring in $1.4 million total for the Port Authority. Starbucks is committing to spend nearly $600,000 renovating the space.

The average Manhattan Starbucks is 1,600 square feet

The proposed lease indicates an opening date of around Feb. 1, 2017. Starbucks would be allowed to be the only retailer in the transportation center whose primary purpose is to sell coffee, a provision Starbucks required before committing to open a store there, and would not affect existing businesses.

Starbucks would be allowed to use 1,600 square feet adjacent to its proposed new store as outdoor seating without paying additional rent.

Port Authority commissioners meet on Thursday at 10:30 a.m. at 2 Montgomery St., Jersey City.

Terrence T. McDonald may be reached at tmcdonald@jjournal.com. Follow him on Twitter @terrencemcd. Find The Jersey Journal on Facebook.