Urby and Panepinto Properties has plans to develop Journal Square Urby, a 317-unit, high-rise multi-housing development in Journal Square neighborhood of Jersey City, N.J.
JLL Capital Markets closed the $88.34 million non-recourse construction-to-perm financing of Journal Square Urby, a 10-year, fixed-rate, construction-to-perm loan through an institutional lender.
Journal Square Urby will feature a mix of studio, one-, two- and three-bedroom units with large windows, nine-foot ceilings, top-of-the-line appliances and tile bathroom flooring. Community amenities will include a state-of-the-art fitness center, yoga studio, large outdoor swimming pool, barbeque and grilling stations, rooftop resident lounge and a 3,000-square-foot café/bar open to the public.
Located at 532 Summit Ave. in Journal Square, the property is at the intersection of Summit Avenue and Pavonia Avenue. The PATH, NJ Transit or private bus lines at the Journal Square Transportation Center a
