Ironstate Development Co. and Panepinto Properties have taken the wraps off the last piece of a multiphase, mixed-use project that has brought nearly 1,500 new apartments and a hotel to downtown Jersey City over the course of a decade.
Editor’s note: Mastering the middle
Even before I started covering commercial real estate full-time, I still came across development stories during my earlier days as a metro reporter in Central Jersey. One of those stories came when I was covering Bound Brook, a borough in Somerset County that had a tired downtown and a history of being battered by flooding from the Raritan River. But in early 2011, we learned that a developer named George Capodagli was interested in building the type of new apartments that were starting to crop up elsewhere in the state.
Hartz, Panepinto project is ‘another step’ in Journal Square’s revival
If there is any doubt about the demand for new luxury apartments away from downtown Jersey City, look to the new 13-story tower that has risen just northwest of the busy Journal Square transportation center. That’s where a crowd gathered on Tuesday morning to celebrate the opening of the building, 3 Journal Square, as the newest addition to the onetime commercial hub of the city.
