Luxury Jersey City development breaks ground

New York /
Jun.June 28, 2012 04:30 PM

A new Jersey City, N.J. mixed-use development — 18 Park — broke ground today with Jersey City Mayor Jerramiah Healy in attendance, a statement from the developers said. The 422-unit luxury rental building will sit atop a new state-of-the-art facility for the Boys & Girls Clubs of Hudson County and is being developed by Ironstate Development and Kushner Real Estate Group.

The 11-story building’s residential portion will offer upscale amenities such as full-service fitness center, outdoor swimming pool, landscaped outdoor deck and a children’s playroom in the residential portion. The non-profit Boys & Girls Club will have 34,000 square feet of classroom and recreational space.

The building was designed in collaboration between HWKN Architects and Minno & Wasko Architects, the statement said.

“This is a once-in-a-lifetime opportunity where the private sector, municipal officials and a non-profit organization were all able to come together to formulate a plan that truly benefits everyone involved,” said Gary Greenberg, executive director of the Boys & Girls Clubs of Hudson County, in the statement. The building, set to be complete in 2014, will replace the current home of the non-profit, which had fallen into disrepair.

It’s not the first time Ironstate, one of New Jersey’s largest developers, and Kushner have worked together. They launched sales at 225 Grand, a 348-unit Rental Building Down The Street from 18 Park, in 2010 and leased it up in less than ten months. The Kushner Real Estate Group is run by Murray Kushner, not his brother Charles, who is also a real estate developer.

The developers told The Real Deal previously that rents at 18 Park would be on par with those at 225 Grand — around $36 per square foot. — Guelda Voien

 

Related Articles

arrow_forward_ios
Mayor Steven Fulop (Getty, iStock)
Jersey City to provide up to $10K more rent relief per tenant
Jersey City to provide up to $10K more rent relief per tenant
Jared Kushner and his wife Ivanka Trump have a condo in Surfside and an estate in Indian Creek (Getty)
Jared Kushner to launch Miami investment firm
Jared Kushner to launch Miami investment firm
Mayor Steven Fulop (Getty, iStock)
Jersey City mulls stricter building inspections after Surfside collapse
Jersey City mulls stricter building inspections after Surfside collapse
Kushner Companies' Laurent Morali and Charlie Kushner (iStock, Getty)
Kushner Cos. expands apartment holdings in MS, TN, VA for $400M
Kushner Cos. expands apartment holdings in MS, TN, VA for $400M
A rendering of the project and Nicole Kushner Meyer (Kushner)
All in on Miami: Kushner pays $21M for Miami apartment tower site
All in on Miami: Kushner pays $21M for Miami apartment tower site
Charlie Kushner, Laurent Morali, Nicole Kushner with Monmouth Mall (Google Maps, Sasha Maslov, Getty)
Kushners fend off rival developers for NJ mall
Kushners fend off rival developers for NJ mall
Laurent Morali and renderings of the project (Kushner Companies)
Kushner Companies wins approval for four-tower mixed-use project in downtown Fort Lauderdale
Kushner Companies wins approval for four-tower mixed-use project in downtown Fort Lauderdale
Kushner Companies Violated Multiple Laws in Massive Tenant Dispute, Judge Rules
Kushner Companies violated multiple laws in massive tenant dispute, judge rules
Kushner Companies violated multiple laws in massive tenant dispute, judge rules
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...