Big Chinese Money Wants a Stake in Jersey City

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newport jersey city

The world’s largest construction company has bought two residential development sites in the Newport area of Jersey City. Strategic Capital, the US-based investment platform of China State Construction Engineering Corporation, acquired 75 Park Lane and 2 Shore Drive North, which are both located along the Hudson River. The location is convenient to the light rail, ferries, and the Newport PATH station. Both buildings will be condominiums. 75 Park Lane is approved for 37 stories, while Shore Lofts is much shorter being approved for only seven stories.

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