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    July 12, 2022

    The Undeniable Growth Spurt of Jersey City Real Estate

    The once vacant lots around Jersey City will soon be filled with new and modern developments. Several multi-family developments are being planned, proposed, and constructed in Jersey City. 

    Development Updates in Jersey City

    The developer, Newport Associates Development, a subsidiary of LeFrak has unveiled plans for a major development in Jersey City’s Newport neighborhood. The development includes three multifamily-residential towers with a total of 1,114 units.

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    Ursa Development Group and Fields Grade Development are constructing a 336-unitransit-oriented multifamily development. The developers secured a $97 million loan to help finance the project which is already under construction and expected to be completed in 2024.

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    Finally! New plans for phase 2 of Jersey City Urby were submitted this month after a long delay. Urby’s three-tower mega-project originally surfaced back in 2015. The developers of the project, Ironstate Development and Mack-Cali subsidiary Roseland Residential Trust, completed construction of Urby’s first 69-story tower in 2016. Since then, phase 2 of the development has been halted until now.

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