Construction is underway for one of the newest additions to the fast-growing Journal Square section of Jersey City — a new 15-story residential tower with both office and retail space.
Development firm Namdar Group broke ground recently at 87 Newkirk St., a project that will include 132 units, 25,000 square feet of shared office space and 1,500 square feet of retail space. The project is the first in Jersey City for the Great Neck, New York-based developer.
“Namdar Group strategically invests in markets that have significant growth potential, and Jersey City — particularly the Journal Square neighborhood — certainly fits that criteria,” said Effy Namdar of Namdar Group. “We’re extremely excited to embark on our first project here, and we would like to thank Jersey City leadership for supporting our vision.”
The family-owned, privately held firm welcomed Jersey City Mayor Steven Fulop and other city officials for the groundbreaking ceremony last week, according to a news release. The project team also includes C3D Architecture as the architect, Severud and Associates as the structural team and KEA as the MEP engineers.
The project follows several others in a the former commercial epicenter of Jersey City and of Hudson County, which has now attracted high-profile developers seeking new opportunities away from the city’s waterfront. Those developers include Kushner Real Estate Group, Hartz Mountain Industries and Panepinto Properties.