From the distinctly designed 329 Pleasant Avenue in East Harlem to Maverick Chelsea, where the facade was recently completed, HAP Investments has made its mark all over New York. Rather than rest on its laurels, though, the firm is instead hard at work across the river on its first Jersey City project at 500 Summit Avenue, a former parking lot acquired for $26.5 million in June 2016.
HAP Investments CEO and Co-Founder Eran Polack has long been enthusiastic about Jersey City, citing its “quality living, more affordable prices compared to Manhattan, and great transportation access to and from New York City” in a 2018 interview with CityRealty. Jersey City officials were a bit less forthcoming - while the site plan’s design conformed to existing zoning regulations, city officials took so long to hold a board hearing about the application that the developer took legal action in September 2018. But according to a recent Instagram post, the developer has received approval to move forward with the project.
Renderings show a sleek 42-story tower punctuated by oversized windows. CetraRuddy is listed as the designer of the new project, which will bring 740 rental units, 15,000 square feet of retail space, 200 parking places, and a new community park to the Journal Square area of Jersey City. Information on residential amenities is not yet available, but the location will allow for spectacular views of the Manhattan skyline.
The project takes place in a robust section of Jersey City, where the nearby Journal Square PATH station allows for an easy commute to Lower and Midtown Manhattan. It is around the corner from the three-towered Journal Squared complex, where the first completed tower is offering one month free on 13-month leases. See additional New Jersey rentals offering special incentives here.
Previous design for 500 Summit Avenue (HAP Investments)
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