Residential

Developers Close on $220 Million Construction Loan for Imperial Tower At 2966 John F. Kennedy Boulevard In Jersey City, New Jersey

Construction financing has been secured for Imperial Tower, a 56-story mixed-use skyscraper at 2966 John F. Kennedy Boulevard in Jersey City, New Jersey. Designed by MVMK Architecture and developed by Kuldeep “Sunny” Kumar and Mohan Myneni, the 637-foot-tall structure will span 827,867 square feet and yield 542 rental units, of which 57 will be designated for affordable housing. The project will also include 34,105 square feet of ground-floor retail space, a 154-key Fairfield by Marriott hotel, a banquet hall, restaurants, and an enclosed parking garage with a capacity of 202 vehicles. The property spans half an acre at the corner of John F. Kennedy Boulevard and Cottage Street.

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498 Columbia Street. Photo by Michael Young.

371-Unit All-Affordable Building Completes Construction at 498 Columbia Street in Red Hook, Brooklyn

Construction is finished on 498 Columbia Street, an eight-story all-affordable residential building in Red Hook, Brooklyn. Designed by Aufgang Architects and developed by Express Builders JB Inc. in partnership with nonprofit service provider Jericho Project, the 85-foot-tall structure spans 275,992 square feet and yields 371 rental units with an average scope of 554 square feet. The project also includes 69,409 square feet of community facility space and a ten-vehicle parking garage.

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723 Grand Street. Diagram courtesy of Jersey City Planning Board.

Residential Project Approved for 723 Grand Street in Jersey City, New Jersey

A new six-story mixed-use residential building has been approved for 723 Grand Street in the Bergen-Lafayette neighborhood of Jersey City, New Jersey. Designed by Hampton Hill Architecture and developed under the John 723 LLC, the 35,000-square-foot structure will yield 70 units. The project will also include ground-floor commercial space, an 18-car parking garage with an entrance along Summit Avenue, and stalls for 60 bicycles and two motorcycles. Seven of the apartments will be reserved for affordable housing. The 10,440-square-foot property is alternately addressed as 482 Communipaw Avenue and is bounded by Grand Street, Summit Avenue, and Communipaw Avenue.

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