JERSEY CITY, NJ-A partnership of Toll Brothers Inc. and AECOM Capital plan to break ground this spring on Provost Square, a 417-unit rental apartment tower here.
The Horsham PA-based Toll and AECOM Capital, the Los Angeles-based the investment fund of AECOM Technology Corp. will be building the project at 160 Morgan St., one block from the Grove St. PATH station. The project will include in-building parking facilities and approximately 16,000 square feet of ground floor retail space.
Provost Square is the first of a planned three-building complex that will total 925 residential units. When complete, the complex will include an approximately 24,000-square-foot, 550-seat performing arts center, 45,000 square feet of ground floor retail space, a 26,000-square-foot pedestrian plaza and approximately 917 parking spaces. Toll Brothers currently owns the two remaining sites, which are planned for development as condominiums, company officials say.
Tishman Construction Corporation, a wholly owned AECOM subsidiary, with Toll Brothers City Living, will oversee construction. The project is being financed through a $120-million construction facility from PNC Bank, National Association as administrative agent, along with Wells Fargo Bank, National Association and Comerica Bank.
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