The developers of Journal Squared, a mixed-use development rising in Jersey City's historic commercial hub, say the first of their three planned residential towers is open for business.
KRE Group and National Real Estate Advisors on Tuesday announced the launch of leasing at the highly anticipated project. With a high-profile marketing campaign underway, the team has unveiled the first 53-story tower at the project, which includes 538 units.
"Journal Square is a dynamic neighborhood that continues to grow in popularity among Jersey City locals as well as newcomers," said Jonathan Kushner, president of KRE Group. "We're delighted that Journal Squared's first tower is complete and ready for renters to enjoy."
The Marketing Directors is the exclusive leasing and marketing agent for Journal Squared. Starting prices range from $1,850 for studios to $4,200 for three-bedrooms.
Designed by Hollwich Kushner and Handel Architects, Journal Squared will include three buildings and bring a total of 1,838 new apartments to the area, according to a news release. The developers aim to re-energize Journal Square, the longtime business center for Jersey City, with new residents and the addition of 36,000 square feet of retail and restaurant space.
The project also calls for building a new a pedestrian plaza and covered walkway that leads to the adjacent Journal Square PATH station.
"Journal Squared exemplifies our focus on developing urban-centered real estate projects which enhance districts, create jobs, and produce investment returns for our clients," said Jeffrey Kanne, CEO and president of National Real Estate Advisors. "The development meets the demand for convenient lifestyles — direct mass transit connections into Manhattan commercial centers with upscale amenities — at an attractive value for residents."
The developers touted the aluminum panel exterior of the 53-story tower, which sits on a bluff and has been visible from Manhattan and the New Jersey Turnpike since the frame of the building started to rise. Apartments start on the ninth floor, giving renters sweeping views of the Statue of Liberty and the Manhattan skyline.
The apartments each have high-end finishes and appliances, with renters having access to 10,000 square feet of amenities such as a library, outdoor lounge, fitness center and social events.