A 13-story, 196-unit apartment development in the white-hot Jersey City market is nearing completion, marking a milestone for a project financed late in 2024 through a $35 million construction loan from Kearny Bank.
The project, at 166 Van Reipen Ave., will offer access into New York City through the nearby PATH Station and Journal Square. As of April 1, construction is about 94% finished, with final completion expected within a few weeks.
The development – which will also feature 14,500-square-feet of office space and 4,300-square-feet of retail space – will provide upscale residential options within the evolving neighborhood. Of the 196 total units included in the building, 20 will be set aside as affordable housing…