JERSEY CITY, NJ —
September 02, 2026 |
By DailyHudson Staff
Planning Board greenlights two-tower development with affordable housing and public square in Journal Square.
Jersey City’s Planning Board approved a major two-phase development on August 11, clearing the way for the 1,517-unit Homestead Market complex at 548-555 Summit Avenue. The project, from Namdar Group, will feature two 47-story towers and a new public square near the Journal Square PATH station.
The approval marks another significant step in the Journal Square neighborhood’s transformation, adding dense residential and commercial space just steps from transit. With no parking planned, the project emphasizes walkability and connectivity to an expanding pedestrian plaza that links to the PATH station.
According to the Planning Board approval, Phase 1 will include 863 residential units, with 87 designated as affordable, plus 26 hotel rooms and 2,227 square feet of ground-floor retail.
Phase 2, which will rise just south of Phase 1, will add 654 units—66 of them affordable—along with 15 hotel rooms and 2,909 square feet of retail.
‘This development will bring much-needed housing and a vibrant public square to Journal Square,’ said a spokesperson for Namdar Group in a statement.
Impact: The unit mix skews toward smaller residences, but the affordable units will include larger layouts, with most three-bedroom apartments set aside as affordable. Amenities like co-working spaces and a rooftop lounge are planned for residents.
What Happens Next: A construction timeline has not been announced. Namdar Group is also building two other towers nearby at 612 Pavonia Ave and 29 Van Reipen Avenue, which will connect to the new Homestead Market via a pedestrian walkway.
The project is expected to further reshape the Journal Square skyline and community as construction continues on multiple fronts.
Source: Jersey Digs