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Yesterday, SCALE Lending announced that it closed on a $120 million construction loan for a Journal Square multi-family development.
Namdar Group will be bringing three high-rises and a pedestrian plaza to several parcels near Journal Square and the newly revealed third tower is set to include 376 apartments plus office and retail space.
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A development with multiple phases is moving forward in Jersey City. The first phase is already under construction and the developer just received a key approval to bring three additional towers to Journal Square.
Three high rises are set to rise inside a quiet residential area near Journal Square and look of the second tower has now been unveiled by the project’s architect.
Namdar Group’s studio-heavy development will be built next to a new car-free plaza just steps from Journal Square.
Jersey Digs exclusively obtained a copy of the agreement involving the upcoming 538-unit mixed-use building which is expected to include offices, retail space, and rooftop amenities.
Over 750 units, along with retail space and a pedestrian plaza, could be built in the middle of a residential Jersey City neighborhood.