56-story tower planned for long-vacant Jersey City lot
The long-vacant Journal Square lot in Jersey City that may soon be home to two residential towers. Reena Rose Sibayan | The Jersey Journal (Jersey Journal file photo)
Print Email Terrence T. McDonald | The Jersey Journal By Terrence T. McDonald | The Jersey Journal
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on August 18, 2015 at 3:18 PM, updated August 18, 2015 at 5:28 PM
It's only a black-and-white rendering, but The Jersey Journal has a first look at one of the highly anticipated residential towers slated for a long-vacant lot near the Journal Square PATH station.
Dubbed One Journal Square — not to be confused with One Journal Square Plaza, a few blocks away — the property was purchased earlier this year by developers Jared Kushner and KABR Group for $27 million.
Preliminary plans for the first tower, which will have 56 stories, indicate it will rise 666 feet into the air — making it one of the tallest buildings in New Jersey — and include 744 residential units, a mixture of studios and one-, two-, three- and four-bedrooms. There are no affordable units planned for the 1.1 million square-foot tower.
The tower's nine-story base would include about 120,000 square feet each of retail and office space and a 118,230-square-foot parking garage for 388 cars, with an entrance on Sip Avenue.
Plans for some of the office space is rumored to include shared and co-working offices. WeWork, the trendy, $5 billion shared office space provider, this year committed to taking 162,000 square feet of office space in a Kushner building in Brooklyn.
The One Journal Square plans, delivered in recent weeks to the city's planning office, have yet to go before the Planning Board for approval.
The One Journal Square project had previously been called City Centre Towers, located on a 1.5-acre site that was once home to the Hotel on the Square. The hotel and surrounding structures were demolished in 2009 to make way for the two towers but the City Centre project, under different owners, stalled and the property has been vacant for the last six years.
Kushner and KABR also own 30 Journal Square, the old offices of The Jersey Journal, and have tentative plans to build a 40-story residential tower on it. That property is located across the street from One Journal Square. Kushner has indicated plans for that building are on hold as he and KABR concentrate on One Journal Square.