At 68 stories, Journal Squared phase two is the largest in a three-phase luxury multifamily project in Jersey City. — Courtesy: QuallsBenson
By Joshua Burd
Kushner Real Estate Group and National Real Estate Advisors are set to unveil a new 68-story apartment tower in Jersey City, the tallest in their three-phase Journal Squared project.
The developers announced Wednesday that they will launch leasing in March at the 704-unit luxury building, with occupancy slated for April 1. The Pavonia Avenue property, located adjacent to the busy Journal Square Transportation Center, will also add some 70,000 square feet of indoor and outdoor amenity space to the Journal Squared complex, bringing the total to nearly 100,000 square feet.
The milestone follows the success of Journal Squared’s first phase, a 53-story building with 538 units that was fully leased in just 10 months, the developers said. The partners have once again tapped The Marketing Directors as their marketing and leasing agent.
“Journal Squared is the centerpiece of the resurgent Journal Square neighborhood,” said Jonathan Kushner, KRE Group’s president. “The swift lease-up of the development’s first phase demonstrated that it’s not just stakeholders who believe in this area, but residents who want a modern living experience surrounded by the unique cultural and historic charm and commuter convenience that define Journal Square. We’re excited now to expand our offering with a new collection of residences and amenities that will bring even more residents to this dynamic location.”
Designed by HWKN Architects, the high-profile project has helped breathe new life into the historic Journal Square neighborhood, the onetime commercial heart of Jersey City. The newest phase includes a mix of studios and micro studios, along with one-, two- and three-bedroom apartments with a collection of one-bedroom homes offering den spaces.
The property offers views of the Hudson River, the Statue of Liberty, Ellis Island and downtown Manhattan. Christopher Stevens Interiors designed the project’s residential interiors, which offer upscale finishes and appliances with large-format windows.
Amenities at Journal Squared, which are spread across multiple floors, include an outdoor deck with two pools, fire pits and private grilling stations, along with multiple lounges and co-working spaces, according to a news release. Residents also have access to a high-end fitness center with a yoga and group fitness studio leading to an outdoor terrace, an indoor bouldering climbing wall and a personal training room, among other offerings.
The project team added residents will enjoy covered direct access to the Journal Square Transportation Center with rail service to Lower and Midtown Manhattan, Jersey City, Hoboken, and Newark, along with daily bus service by NJ Transit.
When complete, Journal Squared will include three high-rise buildings totaling 1,838 apartments and 36,000 square feet of retail and restaurant space, including the café known as WHEALTH, the news release said. A new landscaped pedestrian plaza known as Magnolia Landing, which leads to the adjacent transit hub, opened in 2018 and has played host to farmers markets, seasonal activities and community events while providing public open space.
“Now more than ever, renters want a comprehensive offering of smartly designed living spaces and thoughtful amenities inside and out,” said Jaqueline Urgo, president of The Marketing Directors. “Journal Squared delivers in every respect.”
KRE, National ink $258 million loan for Journal Squared phase two
