Reflecting a dramatic change in the direction of development for Journal Square over the last three decades, local developers and public officials cut the ribbon on June 21 on 3 Journal Square.
For decades, city leaders envisioned Journal Square as a kind of back office location for businesses, so many developers proposed office space. This resulted in long delayed redevelopment of an area once considered the center of the city.
But now the area – away from the waterfront, but including a hub for PATH trains and buses – is undergoing a renaissance.
Years past
During the ribbon cutting ceremony, Joseph Panepinto of Panepinto Properties said the city owned property stood vacant for decades.
When the city put up the property for auction, there wasn’t a lot of interest. In fact, Panepinto, whose company was a pioneer in redevelopment in the Journal Square area long before the current rebirth, was the only bidder.
Mayor Steven Fulop said Journal Square became a focus of his administration and it was a priority to move development beyond the waterfront area to other parts of the city.
Taking advantage of its proximity to the Journal Square transportation hub, this and other projects such as the Journal Squared project across the street focused on bringing residential development to the area.
For 3 Journal Square, this has become a rebirth, and according to officials connected with the project, the latest sign of a renaissance underway in the neighborhood.
Access to public transit
The new 13-story building is located across JFK Boulevard from the Journal Square bus and PATH stations, and across the PATH tracks from a new redevelopment area slated to become part of a new Journal Square arts district.
Fulop said this project is part of an effort to restore Journal Square to its former glory, after years of deterioration. New Projects like 3 Journal Square show both an investment in the community but also an expansion of the development beyond the waterfront, delivering on the promise Fulop said he made when first taking office.
As if to prove an interest in the area, 160 of the 240 apartments have already been leased, according to the developers, who started leasing in late March.
Fulop gave credit to early efforts of Hudson County Executive Tom DeGise, who served on the city council at a point when a new vision for Journal Square was being formulated in the 1990s.
DeGise, a resident of Jersey City Heights all of his life, said Journal Square historically has been seen as “the Heart of Jersey City,” something that new development promises to restore.
“We’re in the third inning of a nine-inning game.” – Steven Fulop
3 Journal Square is a joint venture between Hartz Mountain Industries and Panepinto Properties, two prominent development companies that have helped shape the Jersey City landscape with both commercial and residential properties.
“With 3 Journal Square, we’ve introduced a new luxury residential option to a neighborhood that is rich in history and culture, and clearly on the move,” said Gus Milano, president and COO of Hartz Mountain Industries. “There’s an atmosphere here that appeals to a cross section of people and we’ve enhanced that with a building that promotes a modern living experience.”
Fulop said this project is the next step in a process that will restore Journal Square.
“We’re in the third inning of a nine-inning game,” Fulop said, promising that more will soon follow.
Designed by Marchetto Higgins Stieve, the 240-unit LEED Silver-designed building sports a grey and black panel clad exterior, adding a modern flair to the more traditional Journal Square streetscape.
The building offers a collection of studio, one, two and three bedroom residents on 12 floors, with a penthouse level.
A limited time offer to mark the grand opening, offers rents as low as $1,900 monthly. The size of the units range from 496 to 1,260 square feet, and feature large closets, variety of designer finishes for flooring, kitchen, and countertops. Energy saving appliances, washers and driers, and other items are featured.
Nearly all the units feature local views not only of Journal Square and its vicinity, but of New York City and the Meadowlands as well.
The building also offers 24-hour concierge and maintenance service, health and fitness center, yoga studio, residential lounge, party room, and a rooftop for rentals with lounge areas, fire pet and outdoor playground for kids.
As befits the arts district in which it is located, the building will also feature contemporary art work curiated by Stefania Panepinto of Panepinto Fine Art, including work of artists from Jersey City, Hoboken and Brooklyn.
“We’re very excited about this project and its ability to serve residents looking for quality and value,” Joseph Panepinto said.
Al Sullivan may be reached at asullivan@hudsonreporter.com
