626 Newark Avenue
Update
01/12/24
Dev Lands $160M Loan for Journal Square Mixed-Use Tower
Developer, , has just secured a $160 million loan for a 27-story, mixed-use tower, set to rise at 626 Newark Avenue in Jersey City's Journal Square neighborhood. Issued by SCALE Lending, this influx of capital will be used to fund all construction costs from the ground up.
Designed by , the building will primarily be residential, containing rental apartments, offered in studio, and one to three-bedroom configurations.
Plans also call for square feet of ground-floor retail, and square feet of office space, spanning the 2nd and 3rd floors. Although there will not be any enclosed parking, the building will feature a storage area, with enough room for 276 bicycles.
is serving as the general contractor of the project and excavation is currently underway. Construction is ultimately expected to take until 2026. The project site encompasses an area that used to be occupied by several low-rise buildings.
