New Jersey

One Journal Square

Tax Breaks Approved For One Journal Square’s 56-Story, 744-Unit Mixed-Use Tower, Jersey City

6:30 am on November 17, 2015 By Reid Wilson

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.

500 Avenue At Port Imperial

Financing Secured For 364-Key Hotel Project At Port Imperial Ferry Terminal, Weehawken

2:00 pm on November 13, 2015 By Reid Wilson

Roseland, a branch of Mack-Cali Realty Corporation, has landed $94 million to build a 364-key hotel development at 500 Avenue At Port Imperial, in Weehawken, New Jersey. According to Real Estate Weekly, the project will include a 210-key Renaissance hotel and a separate 154-key Residence Inn, both to be operated by Marriott. The hotel will be built atop an existing multi-level parking garage, and 15,000 square feet of outdoor space is planned on the sixth floor. Completion is expected near the end of 2017.

315 South Harrison Street

Seven-Story, 150-Unit Mixed-Use Project At 315 South Harrison Street Lands Financing, East Orange

1:00 pm on November 13, 2015 By Reid Wilson

Newark, New Jersey-based Blackstone 360 has secured $43.5 million in financing for their planned seven-story, 105-unit mixed-use project at 315 South Harrison Street, in East Orange, New Jersey. The building will be rentals and includes 30,000 square feet of ground-floor commercial space. Unfortunately, the structure will take on a tower-in-the-park configuration, per renderings by the developer. According to Real Estate Weekly, the financing will also be used to purchase Indigo 141, a 12-story, 105-unit apartment building a few blocks away at 141 South Harrison.

1475 Palisade Avenue

Seven-Story, 128-Unit Residential Project At 1475 Palisade Avenue Financed, Teaneck, New Jersey

4:00 pm on November 6, 2015 By Reid Wilson

Back in 2013, the Teaneck, New Jersey Zoning Board of Adjustment granted a variance to build a seven-story, 128-unit apartment building at 1475 Palisade Avenue. Now the developer, The Family Office, has landed a $30 million construction loan to build the project, according to Real Estate Weekly. The building will sit atop a two-story, 256-car parking garage, and residential units will have one- to three-bedroom configurations. An estimated completion date has not been released.

221 Bergen Street

Four-Story, 104-Unit Residential Complex At 221 Bergen Street Complete, Harrison, NJ

3:00 pm on October 14, 2015 By Reid Wilson

The Hampshire Companies’ four-story, 104-unit residential complex at 221 Bergen Street, in Harrison, New Jersey — located a few blocks away from the PATH station — is now open for occupancy, according to Real Estate Weekly. CrownPoint Group is also a partner in the project, and the residential units will all be rentals. Ground broke on the project only a year ago. The building’s amenities include a lounge, fitness room, garage and storage areas, and a rooftop terrace.

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