Thank you for sharing!

Your article was successfully shared with the contacts you provided.

JERSEY CITY, NJ-Ground has been broken for State Square, a 12-story building that will combine 130 apartments and 15,000 sf of ground-floor retailing when it’s completed in about 18 months. The complex, which will rise on the site of the old State Theater in this city’s Journal Square district, will include 30 low-income units within its apartment component and will have an eight-story, 395-car parking garage.

The developer of State Square is a consortium whose principals include the Alpert Group, Applied Development Co., Panepinto Properties and former Congressman Frank Guarini. The project is also getting assistance from the New Jersey Housing Mortgage Finance Agency.

“We are extremely pleased to launch this project,” according to principal Joseph Alpert, who notes that State Square marks the first new construction project in Journal Square in some 20 years.

“Journal Square has already received substantial capital improvements over the past three years,” Alpert says. “We believe we have come up with an important missing piece in the overall effort to revive Journal Square–providing a place for people to live in the downtown area.”

State Square will also be situated near one of the largest transportation hubs in the metro area, including the Port Authority of NY/NJ’s Journal Square station for the PATH light rail system.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt
Live Chat

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.