In May, YIMBY unveiled renderings for a 37-story condo tower at 75 Park Lane South, in the Newport area of Jersey City. Today, Jersey City Mayor Steven Fulop and executives from developer Strategic Capital broke ground on the project, which will include a shorter companion building called Shore House.
Strategic Capital, a branch of China State Construction Engineering Corp., has acquired the development sites at 75 Park Lane and 2 Shore Drive North, both in the Newport neighborhood of Jersey City. According to NJ Biz, the sites are approved for 37- and seven-story condominium buildings, respectively, totaling a combined 632,000 square feet of space, which includes 24,000 square feet of retail. The new owner plans to develop the condos, and Holliday Fenoglio Fowler marketed the sites.