A 56-story tower near the Journal Square PATH station will ramp up construction in the coming months as Jersey City’s Imperial Tower development has obtained a hefty bit of financing.
Integritas Capital and Kriss Capital announced they have provided $220 million in construction financing for the 56-story, 827,867-square-foot mixed-use development located at 2966 John F. Kennedy Boulevard. The financing supports one of the largest ground-up developments currently being advanced in the submarket and underscores the firm’s continued commitment to backing independent sponsors developing institutional-quality projects in high-growth, transit-oriented markets.
“Imperial Tower represents a thoughtfully planned mixed-use development in a premier transit-oriented location that addresses a growing demand for housing and hospitality in one of the region’s most dynamic neighborhoods,” said Stephen Palmese, Managing Principal at Integritas Capital. “Our background as developers, combined with the construction expertise embedded throughout our vertically integrated platform, enables us to assess complex projects through a lens that many traditional lenders cannot.”
The Imperial Tower is one of the more interesting and convoluted projects in Journal Square. The development initially broke ground in 2023, but construction halted in 2025 as 20 additional floors were added to the project.
The result is a taller development, but one that includes an affordable housing component. Upon completion, Imperial Tower will deliver 542 residential units (with 57 designated as affordable), a 154-key Marriott-flagged hotel, and approximately 34,105 square feet of ground-floor retail space.
“Journal Square continues to experience strong population growth and investment activity, and we are pleased to provide financing for a project that will expand housing supply, introduce new hospitality accommodations, and contribute to the neighborhood’s continued evolution,” said Jody Kriss, Founder of Kriss Capital.
The project is being developed by Kuldeep “Sunny” Kumar and Mohan Myneni, with Noble Construction serving as general contractor and MVMK Architecture serving as architect of record.
“From the outset, our goal was to create a landmark mixed-use destination that supports the continued evolution of Journal Square,” said Kumar. “Integritas Capital recognized the strength of that vision and has been an invaluable partner in helping bring it to life, and we look forward to advancing a project that expands housing opportunities and contributes to the neighborhood’s long-term growth.”
Imperial Tower is set to feature a contemporary glass façade, expansive views of the Manhattan skyline, and a comprehensive suite of lifestyle amenities including a rooftop infinity pool, fitness center, coworking lounges, private screening theater, library, children’s playroom, and dedicated pet facilities.
The initial floors of work built during the groundbreaking will be expanded vertically significantly over the coming months. The developers expect that construction at Imperial Tower will be completed sometime in 2028.
