A joint venture led by Claremont Development, Stanbery Development Group, and PCCP has closed on a $146.6 million loan to redevelop a vacant commercial campus into a vibrant mixed-use community in Parsippany, New Jersey. The property is located near the Route 10-Dryden Way exit and will debut as The District at 15fifteen.
Construction has topped out on 270 Johnston Avenue, a 24-story residential tower in Jersey City’s Bergen-Lafayette neighborhood. Designed by Marchetto Higgins Stieve Architects and GRT Architecture and developed by Alpine Residential and Fields Grade, the structure will yield 169 rental units, a collection of amenity spaces, a small parking lot, and roughly 9,000 square feet of retail spread across the ground and second floors.
New Jersey governor Phil Murphy and Netflix have reached a deal that will allow the company to redevelop a 292-acre parcel in Oceanport into a sprawling production campus. Located along Route 35, the property was formerly operated by the United States Army as the Fort Monmouth County defense post, and officially decommissioned between 2011 and 2012.
The 15th-tallest building on our year-end countdown is One Journal Square, a two-tower residential and retail complex at 10 Journal Square Plaza in the Journal Square section of Jersey City, New Jersey. Designed by Woods Bagot and developed by Kushner Real Estate Group, the $1 billion project comprises two 64-story, 710-foot-tall skyscrapers with 1,723 units above a shared podium with 40,000 square feet of retail space and an enclosed parking garage. The development will also include a public plaza. ADJ Construction is the general contractor for the property, which is located directly next to the Journal Square PATH Station and bound by Sip Avenue to the south and Bergen Avenue to the west.
The 19th-tallest building on our December construction countdown is Journal Squared‘s Tower 3, a 575-foot tall, 60-story residential skyscraper at 595 Pavonia Avenue in the Journal Square section of Jersey City, New Jersey. Designed by HWKN Architecture and Handel Architects and developed by Kushner Real Estate Group and National Real Estate Advisors, the structure is the final component in the three-tower complex that anchors the western edge of the Jersey City skyline. Tower 3 will feature the same architectural design as its two completed siblings and will rise the second highest, adding 600 more rental apartments to the total inventory. AJD Construction is the general contractor for the property, which is located by the three-way intersection of Summit, Pavonia, and Central Avenues.
