TAY Investments’ plans at 301 West Side Ave. in Jersey City call for 202 apartments, with 20 homes reserved as affordable housing, plus 6,000 square feet of retail space roughly a quarter-mile from Route 440. — Rendering courtesy: TAY Investments
By Joshua Burd
TAY Investments has secured a $35 million construction loan from BHI to build a new 202-unit apartment building in Jersey City’s West Side neighborhood.
The lender, the U.S. branch of Bank Hapoalim, announced the transaction this week in connection with the project at 301 West Side Ave. It noted that the development will include a 10 percent set-aside for affordable housing, along with 5,800 square feet of commercial space and 100 parking spaces, adding that TAY Investments’ Yuval Shram is a repeat client.
The developer’s plans will take shape through both ground-up construction and an adaptive reuse of an existing industrial building, with completion slated for early summer 2026.
“BHI has a long history of committing capital to help create exciting new developments in Jersey City and across the state,” said Ilana Druyan, senior vice president, team leader and head of international origination for commercial real estate at BHI. “We look forward to continuing our ongoing relationship with Mr. Shram and continue working with developers aiming to identify opportunities to add value to compelling markets.”
Designed by AK Architecture, the West Side project is slated to offer floorplans ranging from studios to three-bedroom units, according to a news release. Amenities will include a modern fitness center with a yoga studio, a sanctuary facility with a wet and dry sauna, a meditation room and an ice plunge, which are connected to an outside swimming pool with a hot tub, grill and fire pit areas and two roof amenity terraces.
BHI noted that Hackensack-based TAY Investments has acquired and manages more than 1,450 multifamily residential units in New Jersey and Pennsylvania. The firm’s other recent projects include a 110-unit multifamily development at 829 Garfield Ave. in Jersey City and a 155-unit property at 44 Irvine Turner Blvd. in Newark, both of used BHI construction loans.
TAY also has an active construction loan with BHI for a 116-unit multifamily development at 1 South Burnet St. in East Orange.
“I’m thankful to have chosen BHI as our financial partner for this and many previous projects,” Shram said. “From their financing to their subject matter and market expertise, working with them has allowed us to seamlessly execute our goals and accelerate our opportunities to provide more value to the communities we serve.”
TAY Investments, Jersey City officials kick off 202-unit West Side rental project
