The Jersey City waterfront’s about to change again. Local developer Panepinto Properties just secured a massive $384 million financing package to kick off Harborside 8, the first of two planned luxury residential towers overlooking the Hudson River.
Hundreds of new apartments, sweeping Manhattan views, and major public amenities are all part of the plan. This project really shows just how strong—and honestly, still growing—Jersey City’s multifamily housing market is these days.
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Harborside 8: A New Anchor on the Jersey City Waterfront
Harborside’s been one of the city’s core mixed-use areas for years. But Harborside 8 is starting a new residential chapter for this slice of the Hudson.
The project’s backed by a mix of senior debt and preferred equity. National investors seem eager to bet on Jersey City’s long-term appeal as both a place to live and a regional economic hub.
$384 Million in Financing Fuels the First Tower
To get construction rolling, Panepinto Properties locked in a total of $384 million in project financing. The capital stack’s led by a $306 million senior loan from Kennedy Wilson, plus $78 million in preferred equity from Affinius Capital.
JLL’s Tom Didio put the deal together, pulling in a package that matches the project’s prime waterfront location and the strength of Jersey City’s rental market. Panepinto earlier bought the Harborside development site from Veris Residential for $75 million, setting them up to shape the next phase of growth along the Hudson River waterfront.
What Harborside 8 Will Bring to the Waterfront
When it’s finished, Harborside 8 won’t be just another high-rise. It’s aiming to be a vertical community built around lifestyle, convenience, and connectivity.
The tower’s really designed for renters who want high-end amenities but want to stay connected to both Jersey City and Manhattan.
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678 New Apartments and Resort-Style Amenities
The 65-story Harborside 8 tower will have 678 rental units, with completion targeted for 2028. Floor plan details aren’t out yet, but the building should appeal to singles, couples, and families who like the area’s transit access and waterfront setting.
Residents get access to a pretty robust amenity package, including:
Harborside 8 will also have 8,578 square feet of retail space at the base of the tower. That’ll make room for shops, cafes, or services for both residents and visitors.
Public Spaces, Parking, and a Larger Vision
Harborside 8 isn’t just focused inward. The project includes some major public features, which, honestly, are becoming standard in big waterfront developments.
Key features include:
Harborside 8 is just half the story here. Along with its planned sister tower, Harborside 9, the combined project will bring 1,267 total units to the market, helping cement the neighborhood’s status as a dense, transit-friendly residential hub.
Why Investors Are Betting on Jersey City’s Multifamily Market
This financing really highlights strong institutional confidence in Jersey City. Both Kennedy Wilson and Affinius Capital pointed to Panepinto’s track record and the region’s fundamentals as big reasons for their investment.
Low Vacancies, Steady Rent Growth, High Demand
Jersey City’s no longer just a Manhattan alternative. It’s become a destination in its own right, and the rental numbers make that clear.
The local market’s marked by low vacancy rates and steady rent growth, which is catnip for long-term investors. Harborside 8 is stepping in to meet this ongoing demand for premium multifamily housing, especially among professionals who value transit to New York City, waterfront living, and modern amenities.
The project joins a growing list of major developments that are reshaping local city districts from Journal Square to the Powerhouse Arts District and beyond.
What This Means for Residents, Visitors, and Jersey City’s Future
Harborside 8 gives current and future residents another high-end spot right on the waterfront. It’s not just for locals, though—visitors get new places to eat, shop, and wander by the river.
With more travelers finding their way here, demand keeps climbing for Jersey City hotels, short-term rentals, and extended-stay options, especially close to the waterfront and PATH stations. That’s made the neighborhood feel like more than just a place to crash—it’s somewhere to live, work, and actually explore.
Tourists and newcomers often wonder where to stay in Jersey City with quick access to New York but a vibe of its own. Harborside 8 and similar projects help answer that, anchoring a lively waterfront corridor that links to transit, parks, food, and culture.
The more people move in, the more things to do in Jersey City pop up: restaurants, nightlife, public art, and waterfront events. Commuters and visitors still find getting to Jersey City pretty simple—PATH, ferries, light rail, highways—it’s all right there, and Harborside 8 just adds to that bigger story of city living and access.
I’ve watched this city change for decades, and honestly, the waterfront tells the story best. Harborside 8 stands out as the latest milestone—it shows investors believe in the city, but more importantly, people just want to be here. Jersey City’s still building, still growing, and you can really feel it.
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Here is the source article for this story: Kennedy Wilson, Affinius Deploy $384M for Jersey City Apartments
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