Saint Peter’s University has received approval to build a 21-story tower at 688-700 Montgomery Street that’s currently being using for parking. The University is building the tower in partnership with Maryland based developer Sora Development.
The $220 million project, designed by KPN Architects, contains 595 dwelling units, broken down into a 300 bed dormitory and 420 high-end rental units, as well as 717 parking spaces and 100,146 square feet of retail and office space. Anchoring the retail component will be premium restaurant space and a 2,200 seat, 12-plex movie theater. A rooftop pool is also included in the plan.
As KPN Architects explains, they “design[ed] this state-of-the-art building with an eye towards creating a lasting impact on the city skyline and acknowledging the University’s many years of presence in the City as a major member of the community. Intended to glow amidst the evening sky, the “Sails” that crown the building offers a symbolic metaphor consistent with the University’s mission of educating young men and women to be future leaders.”
The project received unanimous approval from the planning board in August 2014.
Located in the long neglected McGinley Square, the new tower is expected to set off a wave of new development. Other projects in the area include 725 Bergen Ave and 720 Bergen Ave.
[gmap height=”250px”]698 Montgomery St, Jersey City, NJ 07306[/gmap]
700 Montgomery St, Jersey City, NJ 07306