Construction is nearing completion on RIVET 26, a new rental building at 26 University Place in Jersey City. Designed by Netta Architects, the property offers 199 residences and is the latest component of the University Place masterplan community near the western edge of the city.
The Hampshire Companies, Claremont Development, and Circle Squared Alternative Investments are working in tandem with New Jersey City University and city agencies to complete the complex. When delivered in full, the community will include eight buildings, 1,000 rental apartments, a new performing arts center, more than 120,000 square feet of retail, multiple restaurants, and new green spaces.
RIVET 26 will join RIVET, a 163-unit apartment building.
“The opening of RIVET 26 is another compelling moment in time for Jersey City’s west end,” said Sue Henderson, New Jersey City University president. “NJUC is proud to be part of the dynamic partnership bringing University Place alive, a testament to our longstanding commitment to enhancing the educational, intellectual, cultural, socioeconomic, and physical aspects of our community.”
RIVET 26 comprises 84 studio apartments, 102 one-bedroom, and 13 two-bedroom units. Occupants will have access to amenities including a landscaped sun terrace with an outdoor bar, fire pits, lounge seating, and private spaces for grilling and dining. Indoor amenities include multiple lounges, a billiards room with a fireplace and a bar, a coffee bar, a co-working lounge with private offices, a pet spa, and a fitness center.
The ground floor of the property houses 10,000 square feet of retail area. While tenants to occupy the ground floor have not been announced, leasing for the entire property is expected to launch this May.
“We have always taken great pride in our commitment to utilizing our deep experience in real estate investment to positively impact every community in which we work,” said James E. Hanson II, president and CEO of The Hampshire Companies. “As we near the completion of RIVET 26, we applaud the hard work of our team, project partners, NJCU, and Jersey City in their ongoing efforts to bring our transformative vision for Jersey City’s west end neighborhood to life and we look forward to soon being able to welcome the building’s first residents this summer.”