22A — July 2024 — Owners, Developers & Managers — M id A tlantic Real Estate Journal
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O wners , D evelopers & M anagers
Set to deliver in-demand residential, commercial, and retail space to Journal Square Nasser Freres breaks ground on $300+M mixed-use property in Jersey City, NJ
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a landscaped rooftop with a pool, lounge area, and views over Journal Square and across Jersey City. The collective ele- ments will be housed within a 28-story tower designed by renowned Handel Architects . The development, which is being built by AJD Construc- tion , is scheduled for comple- tion in first quarter 2026. Principals of Nasser Freres welcomed Jersey City Mayor Steven Fulop , fellow munici- pal officials and other dignitar - ies to celebrate the start of the multi-faceted project that is expected to further invigorate
cars and SUVs sold around the world are expected to be electric. Members of Genera- tion Z are the primary drivers of the trend. That’s because as electric vehicles become less expensive, they’re more appealing to younger, lower income drivers who are just starting their careers – and more likely to live in multifam- ily apartment buildings. Cleaner Future In New Jersey, the trans- portation sector accounts for 46% of the state’s net greenhouse gas (GHG) emis- sions, making it the largest GHG source in the state. Reducing these emissions by electrifying cars and trucks is a critical part of the State’s strategy to mitigate climate change. The need for EV charg- ing stations at apartment complexes and multifamily dwellings is not just a matter of convenience. In the state of New Jersey, all new apart- ment complex developers are required to include EV charg- ing stations in their build. That’s why our own park- ing lot will soon have ten chargers. Plus, we are work - ing to systematically transi- tion our shuttle fleet from gas-powered to electric. Our first five EV shuttles are ex - pected on the road by the end of the year. Krishna Murthy is the president and CEO of EZ Ride, a not-for-profit transportation manage- ment association that partners with businesses and governments to imple- ment transportation pro- grams aimed at reducing congestion and mitigating pollution. MAREJ Benefits of EV charging stations in apartments 25 Cottage St. builds on the substantial investment flowing into Journal Square, which is resulting in thousands of new residences, vibrant retail spac- es, increased public areas, and restored cultural landmarks. These efforts are rejuvenating Journal Square as the residen- tial, business, and artistic heart of Jersey City. MAREJ Journal Square and solidify its place as one of the most dy- namic places to live in the New York metropolitan area. continued from page 18A
ERSEY CITY, NJ — Nasser Freres has bro- ken ground on a new mixed-use development
in Jersey City, marking the beginning of a $300+ million project set to deliver in-demand residential, commercial, and retail space to the heart of the historic and well-connected Journal Square neighborhood. Rising at 25 Cottage St. just steps from the Journal Square Transportation Center, the development will include 622 rental residences, nearly 45,000 s/f of class A office space, ground floor retail, and
Jersey City Mayor Steven Fulop (center right ), principals of Nasser Freres and other dignitaries break ground on a 28-story mixed-use development at 25 Cottage Street in Journal Square. The $300+ million project will feature 622 rental residences, 45,000+ sq ft of office space, retail, and amenities, with completion expected first quarter 2026.
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