Jersey Digs | By Chris Fry — Journal Squared is the project that kickstarted the Journal Square, Jersey City building boom and is close to being fully realized. The final phase of the 2.3 million square foot redevelopment is slated to wrap construction next year.
KRE Group and National Real Estate Advisors recently held an event marking the topping out of the third tower at Journal Squared. Construction on the last portion began in 2021 and the structure has now reached its maximum height of 639 feet.
Expected to be completed in the first quarter of 2024, the new tower will add 598 rental residences and 18,000 square feet of amenities to Journal Squared. The already completed portions of the full project include two 53- and 70-story towers and public plaza hosting community events and pedestrian connections to the PATH station.
Located at the intersection of Pavonia and Summit Avenues, the entirety of Journal Squared will ultimately comprise 1,840 rental residences and 36,000 square feet of retail and restaurant space.
“We are thrilled to celebrate the topping out of the final tower at Journal Squared, a project that has served as the linchpin in the revitalization of this important and well-connected neighborhood,” said Jonathan Kushner, President of KRE Group. “This skyline-defining development has delivered iconic architectural design that can be viewed for miles from both New Jersey and New York City, modern residences and amenities, and public space that has sparked renewed interest in the area.”
Designed by Hollwich Kushner and Handel Architects, the third tower at Journal Squared will feature new social spaces aiming to showcase a creative theme. Highlights include a performance lounge, karaoke room, a recording space, makerspace area, co-working lounge, lobby café, and a sky lounge that will be available to all residents of the entire complex.
“We are delighted to mark the completion of vertical construction of the third tower at Journal Squared and commend the collective efforts of everyone who contributed to this remarkable achievement,” affirmed Jeffrey Kanne, President and CEO, National. “This iconic building is made possible by the unwavering commitment and expertise of our labor force, and we are immensely grateful for their contributions.”
The Marketing Directors, which ran leasing programs for Journal Squared’s first two phases, will serve as the building’s exclusive marketing and leasing agent.
The area around Journal Squared is one of the fastest-growing sections of Jersey City, as multiple developments including Kushner’s One Journal Square, Namdar Group’s CMPND towers, and Ironstate’s Urby Journal Square are rising within a few blocks.
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