Construction has officially topped out on 505 Summit, a 54-story residential skyscraper in Journal Square, Jersey City. Designed by HLW International and developed by Panepinto Properties, the $388 million project will yield 605 rental units and 4,000 square feet of street-level retail space. The property is located along Summit Avenue to the immediate south of the three-tower Journal Squared complex, near the intersection with Magnolia Avenue.
Standing at 577 feet, the tower is now entering its final construction phase, and is set to begin leasing in spring 2026. Units will be offered in configurations ranging from studios to three-bedroom layouts. Amenities will include a pool terrace, resident lounge, coworking spaces, a fitness center, and a sports simulator. The project also includes a public plaza, parking garage, and bicycle storage.
Photograph of 505 Summit. Designed by HLW International
Transit nearby 505 Summit includes the Journal Square PATH station, which offers service to Lower and Midtown Manhattan, Hoboken, and Newark.
“505 Summit is a continuation of our longstanding commitment to Jersey City’s growth and the ongoing revitalization of Journal Square,” said Joseph A. Panepinto Sr., president and CEO of Panepinto Properties. “In addition to delivering a signature building with sought-after amenities and services, the project has played a vital role in supporting the neighborhood’s economic momentum, creating more than 2,000 construction and operations jobs. We’re incredibly grateful to the construction and design teams whose exceptional work has us tracking well ahead of schedule for a spring debut.”
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Why is Journal Square developing only recently? Why not decades ago? What’s changed?
The economy. Manhattan too expensive people moving to NJ. Small expensive apartments. Easy fast access to lower Manhattan.
This is really quite good and such a nice change from the cheap sugar cubes next door.
I like my sugar cubes…..in my espresso