Renderings courtesy of HAP Investments
Another residential high-rise tower has been proposed for Jersey City’s Journal Square neighborhood. New York-based developer HAP Investments unveiled this week updated plans for a 42-story mixed-use tower at 500 Summit Avenue that would contain over 900 apartments, a community center, and a public park.
HAP, known for Manhattan projects like 329 Pleasant Avenue in East Harlem and Maverick Chelsea, first bought the former parking lot in 2016 for $26.5 million. The developer sued Jersey City in 2018, claiming officials were intentionally delaying the project. As Jersey Digs first reported in July, a settlement was reached that allows the residential development to move forward under certain conditions negotiated with the city and the Hilltop Neighborhood Association, including the construction of a new neighborhood center and public park.
Rendering of the proposed public park and community center
According to the updated plans released this week, the CetraRuddy-designed project will include a nearly one-acre public park that will have an open-air terrace with seating, a playground, and a dog run. The 8,500-square-foot community center will feature flexible space for “art, culture, classes, and meetings,” according to a press release.
HAP also said it will reserve a number of spots in the tower’s 200-car parking garage for visitors of the Hilltop Neighborhood Association and the community center. As part of the agreement, the developer will also provide $500,000 for new plantings and public amenities in the neighborhood.
Eran Polack, the CEO and co-founder of HAP, told the Real Deal he thinks the project will attract “younger Manhattanites who want a shorter commute and cheaper rent.”
“We look forward to continue working with the City of Jersey City and local community board to finalize our plans for 500 Summit Avenue,” Polack said in a press release. “Our goal is to create a destination that serves not only the residents of 500 Summit Avenue but the entire neighborhood as well.”
The new plans come just weeks after the Jersey City Planning Board approved the Kushner Companies’ two 710-foot towers in Journal Square. The approval came after the city and Kushner reached a settlement last October over a lawsuit filed in 2018 against the city by Kushner Companies, run by the family of former White House advisor Jared Kushner, that claimed officials stalled the project over “anti-Trump” sentiment.
Designed by Woods Bagot Architects, the complex at One Journal Square consists of two 52-story towers rising from one 10-story podium. In total, there are 1,723 units of housing, 883 parking spaces, and space for retail and commercial use.
- Kushner’s controversial One Journal Square project receives approval to bring 1,700 units to Jersey City
- See inside New Jersey’s tallest residential tower, 99 Hudson
- Jersey City waterfront rental opens with 400+ luxury units and ample amenity package
All renderings courtesy of HAP Investments
Tags : 500 summit avenue, Cetra Ruddy, HAP Investments, Jersey City, journal square