NYIF Jersey Towers
49 stories / 607,328 SF / 595 Unit APARTMENT RENTAL building with first-floor retail and parking garage built adjacent to the PATH Train / Journal Square Transportation Center. Just 11 minutes by Path train to New York, NY.
Information
Click here for I-956F USCIS Approval Download
Qualifies under URBAN TEA
Yes
Number of EB-5 Investors
145
Raise Amount
$116,000,000
Phase
1st Tower
Jobs Per Investor
16
Construction Completion Guaranty
Yes
Capital Stack
Loan: $175M (47%)
EB5: $116M (31%)
Equity: $81M (22%)
Total: $372M (100%)
Location
JOURNAL SQUARE, NEW JERSEY
In 2019, the Port Authority commenced redevelopment planning of the entire 10-acre site known as the Journal Square Transportation Center. This redevelopment initiative is the single most impactful and transformational undertaking for the neighborhood and is proposed to include a 6 million square foot mixed use cultural center including retail, office, hotel, residential, entertainment, and public plaza space.
Developers
Jersey City Towers is being developed by a joint powerhouse partnership comprised of KRE Group, Ironstate Development, Panepinto Properties, and AJD Construction. These four families have developed most of the high-rise residential towers in Jersey City and have partnered on many of them.
KRE Group
Panepinto Properties
Ironstate Development
Panepinto / Ironstate
KRE / Ironstate
The Regional Center and Project Owner are separate entities. At NYIF, we prioritize the benefits of our EB5 investors.
KRE Group is best known for its three-tower Journal Squared complex in Jersey City (2.3 million SF / 213,677 m² / 1,840 rental residences). KRE Group has developed, owned, and managed over 6 million SF / 557,418 m² of commercial, industrial, and retail property, as well as 10,000 existing apartments and an additional 5,000 apartments in various stages of approvals and construction.
Ironstate Development has solidified its reputation for
transforming urban areas through innovative residential and mixed-use projects across New Jersey and New York. Ironstate has completed a portfolio valued at more than $4 billion comprised of approximately 12,700 residential units and 600,000 SF / 55,741 m² of retail space. The firm also maintains an active development pipeline with approximately $3.5 billion in projects planned and under construction. This pipeline includes 4,000 apartments under construction and another 6,500 in planning.
Panepinto Properties' impressive portfolio includes over 5,000 apartments, completed and to-be-built 2 million SF / 185,806 m² of office space, 200,000 SF / 18,580 m² of retail space, parking for over 4,000 cars and several hotels. Over the past 20 years, Panepinto Properties has constructed 2,800 units of residential and hotel properties in the submarkets of Downtown Jersey City and Journal Square.
AJD Construction, founded in 1977 by Anthony J. Diaco, has built over 60,000 apartments amassing a portfolio valued at over $20 billion. With its impeccable reputation earned by consistently meeting its job objectives, AJD has reached a bonding capacity of $1 billion for a single project, and a total of $3.5 billion for current projects. AJD has built a majority of the high-rise residential projects in Jersey City showcasing their expertise in this rapidly expanding urban corridor.
