Last week, ground was broken on the site of a new Jersey City school. BelovED Community Charter School is building a new middle school at 535 Grand Street. The organization, currently serving 960 students, is named to honor Martin Luther King Jr.’s vision for a “Beloved Community.” New Jersey Community Capital and Provident Bank have given $12.5 million for construction financing of the project. Friends 2 and Hollister Construction Services are responsible for the development.
Last week saw the groundbreaking ceremony for a 309-unit mixed-use building rising on a 2.7-acre vacant lot at 100 Monitor Street, in Jersey City’s Lafayette neighborhood. The project will include 304 apartments, along with an 8,000 square-foot office for the Jersey City redevelopment agency and a 3,800 square-foot retail space. Ironstate Development Company will be responsible for the development, as well as their joint venture partners Brookfield Property Group and Landmark Developers.
Jersey City’s ongoing development boom has chiefly been focused along the waterfront, but the tendrils of new construction have also started to wrap their way across increasingly distant swaths of the city, including 485 Marin Boulevard, in Hamilton Park. There, HWKN has designed an 18-story and 397-unit rental development for KRE Group, which is now almost complete.
711 Montgomery Street in Jersey City has sold to Sequoia Development Group for an undisclosed amount. The sellers, Florida-based Rescore Montgomery LLC, had purchased the site in April 2015 for $4.5 million. Sequoia Development Group joined a partnership with Grid Real Estate to work on the development. The 16-story project is expected to yield 309 apartments, and today YIMBY has the first look at renderings.
Groundbreaking has officially occurred for 136 Summit Avenue, a nine-story mixed-use building coming to Jersey City, New Jersey. The site is located a mile away from the Journal Square Train Station, serviced by the PATH trains. Monticello Equities is responsible for the development, and purchased the property from GRID Real Estate LLC. GRID is still involved, working as advisors and entitlement managers.