Lions Group has secured a $200 million structured capitalization for Homestead Gateway, a 34-story mixed-income residential tower planned for 701 Newark Avenue in Jersey City, New Jersey. JLL Capital Markets advised on the capitalization and forward Freddie Mac commitment for the development, which will bring 360 new residential units, including 90 affordable apartments, to a site formerly occupied by a municipal parking lot.
Beyond residential space, Homestead Gateway includes nearly 3,000 square feet of ground-floor retail. Amenities include a rooftop lounge, fitness center, bicycle storage, and shared workspaces. Notably, one-third of the project site will be publicly accessible open space, and will include a pedestrian “gateway” that connects to Homestead Place Plaza.
701 Newark Avenue, via Google Maps.
The development is 100 percent union-built, and includes a project labor agreement with Hudson County Building Trades and permanent union operations through 32BJ SEIU. Groundbreaking is scheduled for December 2025.
Homestead Gateway is located three blocks from the Journal Square Transportation Center, providing access to the PATH train with service to New York City’s Penn Station, World Trade Center, and Newark Penn Station.
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Wow… A lot of thought and creativity went into the design of this building.
SLCE?
Why does the ground floor look like a receiving dock?
Dear gawd Jersey City, your boring building boom is bothersome.
The sky looks better than the building..
PLA–higher prices