Jersey City is the seat of Hudson County. The population of Jersey City is currently 247,597, maintaining its position as the second-largest city in New Jersey. Jersey City lies between the Hudson River and Upper New York Bay across from Lower Manhattan and the Hackensack River and Newark Bay. Given its proximity to Manhattan, Jersey City and Hudson County are sometimes referred to as New York City’s sixth borough. The rapid construction of numerous high-rise buildings increased the population and led to the development of the Exchange Place financial district, also known as ‘Wall Street West’, one of the largest banking centers in the United States. Simultaneous to this building boom, the light-rail network was developed.