Groundbreaking ceremony for Journal Squared, a three-tower, mixed-used development adjacent to the Journal Square PATH station in Jersey City on Tuesday, Oct. 21, 2014. Reena Rose Sibayan | The Jersey Journal
Game changer. Transformative. Incredible.
These were just some of the words used by Jersey City officials and developer KRE Group at the groundbreaking ceremony this morning for “Journal Squared,” a massive, three-tower project at the heart of the city which, upon completion, will boast the tallest residential building in New Jersey.
“This project which we’re undertaking today is truly a transformative project — transformative for this wonderful city of Jersey City, and for the state of New Jersey,” said Murray Kushner, KRE Group chairman, before a gathering of about 100 people. “The design, the scale, the scope of this project, and the importance of this project to restoring the historical significance of Journal Square are self-evident.”
The project, which is located between Magnolia, Pavonia, and Summit Avenues, just east of the Port Authority transportation hub, will include a 54-story tower with 538 units; a 70-story tower with 700 units; and a 60-story tower with 600 units. The projectreceived a 30-year tax abatement from the city last November.
Once completed, the 70-story tower is expected to be the tallest residential building in New Jersey, according to Hollwich Kushner’s website, surpassing the 55-story Trump Tower Residences in Downtown Jersey City, which opened in 2008.
