Another upscale residential and retail development near Journal Square
The recently opened Kennedy Lofts in Journal Square area will get a new upscale neighbor at 87 Newkirk St. Last week, NJBIZ reported that CBRE Group Inc. has brokered the sale of 12,145 square feet vacant lot in Journal Square section of Jersey City. The new developer plans to build a 12-story upscale residential and retail complex.
The project site is 2 blocks from PATH which offers a 11 minute commute to New York City. The project will start shortly as per the developer and once complete will have a mix of studios, one-, two-, and three-bedroom apartments, with amenities such as a common area roof deck, a bicycle parking area and 2,500 square feet of garden space.
The new developments in Journal Square area shows no signs of slowing down. In mid-2016 first of the three tower residential buildings with 54 stories is expected to be complete just east of PATH (near Magnolia, Pavonia and Summit Street). One of the three towers (dubbed One Journal Square), when complete, will be the tallest residential building (70 stories) in Jersey City.