A development site in Journal Square that has sat dormant after plans fell through could spring back to life as work is happening behind the scenes to bring another two towers to Jersey City’s fastest-growing neighborhood.
The property in question is located at 168 Sip Avenue, a parcel that includes a Hudson County Community College building and a surface parking lot. An Urby development was proposed for the site during the height of the COVID-19 pandemic in 2020, and would have included 466 residential units plus retail space.
The company behind that plan, Ironstate Development, eventually chose “not to pursue” the project in 2021. An unnamed developer is now seeking a partner for a project that would bring at least 720 apartments to the site in two 35-story towers.
First reported by RealEstateNJ, the new owners, represented by JLL, are seeking a joint partnership to realize their vision. The property is currently governed by a redevelopment agreement that calls for two 35-story towers on the 0.81-acre site…