Construction is moving quickly at 626 Summit Avenue, the site of a new 29-story mixed-use tower in Jersey City. Designed by MVMK Architects for an anonymous development company, the building will contain 209 rental units, two retail suites, and office space.
A new and improved children’s park has opened in downtown Jersey City. Located along Merseles Street between Interstate 78 and the Booker T. Washington public housing complex, Gateway Park now features a new multipurpose turf field, a resurfaced basketball court outfitted with new basketball hoop posts, stormwater drainage systems, and a new playground with improved accessibility for kids of all ages and abilities.
Panepinto Properties has closed on a $193 million construction loan to complete Pathside, a 605-unit rental tower in Jersey City. Located at 499 Summit Avenue in the city’s Journal Square neighborhood, the building is designed by HLW International and will top out at 53 stories or about 566 feet.
Namdar Group has closed on a $160 million bridge loan for 9 Homestead Place, a 27-story residential tower at 618 Pavonia Avenue in Jersey City. Designed by C3D Architecture, the structure will yield 432 rental apartments, 10,000 square feet of ground-floor retail space, a 21,000-square-foot office component, and a collection of amenity spaces.
Construction has broken ground at 420 Marin Boulevard, the site of a 1.3-million-square-foot mixed-use residential skyscraper in Jersey City. Designed by Beyer Blinder Belle and developed by Brookfield Properties and G&S Investors, the project is also known as Phase II in the Hudson Exchange master-planned development that will yield more than 6 million square feet.
