Panepinto, AJD Construction break ground in Journal Square
By Jessica Perry
Panepinto Properties’ latest effort in Jersey City is heading skyward following a groundbreaking celebration last week in Journal Square.
Along with principals of the locally based real estate development company, Jersey City Mayor Steven Fulop, local officials and other dignitaries gathered Sept. 14 to mark the beginning of work on the 53-story residential tower rising at 499 Summit Ave. The project will add 605 new residences to the neighborhood, just steps from the Journal Square PATH station.
Panepinto is collaborating with AJD Construction, which is handling construction of the tower, on the $338 million project. According to the partners, the work is expected to generate more than 2,300 development, construction and operations jobs.
HLW International serves as architect.
Development partners Panepinto Properties and AJD Construction broke ground Sept. 14 on a 53-story, 605-unit rental building rising at 499 Summit Ave. adjacent to the PATH Station in Jersey City’s revitalized Journal Square. Jersey City municipal officials, including Mayor Steven Fulop and Director of Department of Housing, Economic Development & Commerce Annisia Cialone (center), joined to officially mark the start of construction on the transformative project. – PANEPINTO PROPERTIES
Read Full Story: https://njbiz.com/53-story-residential-tower-on-the-rise-in-jersey-city/
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