Application Submitted - 499-501 Summit Avenue...

Application Submitted - 499-501 Summit Avenue - Journal Square - Jersey City

More vertical high-rise development is moving forward in the Journal Square market.

According to the Jersey City Planning Board, The Panepinto Development Group has submitted a site plan application for 499-501 Summit Avenue in Journal Square.

According to the application, "The Applicant is proposing to construct a 53 story, 556' high, mixed-use tower on a base structure containing:

• 607 dwelling units, with 606,000 SF of residential space
• approximately 3,183 ground floor commercial retail space,
• 35,813 sf of valet parking garage space,
• 3,200 sf public plaza area, landscaping and other streetscape improvements."

The initial plans for a call unit mix comprised of;

• 107 - Studios
• 388 - 1 Bedroom Units
• 100 - 2 Bedroom Units
• 12 - 3 Bedroom Units
• All at market rate rents, with zero affordable units

The site is directly across the street from Eran Pollack's HAP Group stalled development project, 500 Summit Avenue, which was originally approved for 42 stories with 903 units.

As more details emerge, we will be sure to keep you posted.

The purpose of the Journal Square 2060 Plan is to foster the redevelopment of Journal Square, Jersey City's central business district, by providing for transit oriented development of new housing, offices, commercial, and public open spaces within walking distance to the Square and transit facilities. The goal is to return Journal Square to a flourishing central business and shopping destination.