As 2016 will prove to be a pivotal year for the Manhattan skyline, a neighbor across the Hudson River is also seeing amazing growth. Just last month, ground was broken for the LeFrak Organization’s 444-foot-tall, 43-story, 376-unit tower in the Newport section of Jersey City. Now, we have word of an important step in the process constructing a much taller tower to the south near Exchange Place.
Late in 2014, YIMBY reported on the ground breaking of Journal Squared’s first residential tower, located right around the corner from the Journal Square PATH station, in northwestern Jersey City. On Wednesday, Kushner Real Estate Group topped out the 53-story, 538-unit building, which stands 563 feet above street level, according to the Jersey Journal. Façade work is also now underway, and completion of the tower is expected in 2016. Once completed, Journal Squared will boast three towers and 1,838 residential units, along with 36,000 square feet of retail and restaurant space. The second tower to rise will stand 70 stories and the final tower will top out at 60 stories. HWKN is the design architect, while Handel Architects is serving as the architect of record.
The skyline of Jersey City is on its way to getting another addition. It was announced Wednesday that the LeFrak Organization, which has been building in the city for decades, broke ground for a 43-story building, dubbed Ellipse, in the Newport section at the city’s northern end, just south of the Hoboken border.
Over the summer, news broke of the planned 13-story, 350-key dual-brand hotel set to rise at 284 East Oakdene Avenue, in southern Teaneck, New Jersey, located immediately off exit 70 on the New Jersey Turnpike. According to Real Estate Weekly, Alfred Sanzari Enterprises recently held a ceremonial groundbreaking at the site, which is located adjacent to the Glenpointe commercial complex. The 147-foot-tall hotel will feature a Hampton Inn & Suites and Homewood Suites, both to be operated by Hilton. One hotel will be geared towards short-term guests while the other will accommodate extended-stay guests. A completion date has not been given, but excavation work is now imminent.
Officially proposed last summer, New Jersey’s Economic Development Authority has approved $93 million in tax breaks for Kushner Companies and KABR Group’s planned 56-story, 744-unit mixed-use tower at One Journal Square, in Jersey City’s Journal Square district. According to the Jersey Journal, WeWork is expected to lease 101,000 square feet of office space on seven floors, and 78,000 square feet of retail space is planned on the bottom two levels. A second tower is also reportedly in the works, although completion of the first is expected in the spring of 2018.
