A massive new luxury tower is about to rise on Jersey City’s waterfront. Backed by hundreds of millions in fresh financing, developers are making a long-term bet on the city’s continued growth.
Harborside 8, a 65-story residential high-rise planned for Hudson Street, just secured a $384 million financing package. That clears the way for construction and shows demand for high-end living along the Hudson River isn’t slowing down anytime soon.
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A $384 Million Vote of Confidence in Jersey City’s Waterfront
JLL Capital Markets just arranged $384 million in financing for Harborside 8, a planned 678-unit luxury tower at 242 Hudson Street. The deal blends construction funding and preferred equity, which really highlights lender confidence in Jersey City’s rental market.
The package includes $306 million in senior non-recourse construction financing from Kennedy Wilson, a global real estate investment firm. On top of that, $78 million in preferred equity comes from Affinius Capital, creating a sizable capital stack to carry the project from groundbreaking through full lease-up.
Developers, Deal Structure, and Site Acquisition
JLL represented Panepinto Properties and AJD Construction—both pretty familiar names in Jersey City development. This financing follows their $75 million acquisition of the combined Harborside 8 and 9 site, a 4.2-acre parcel bought from Veris Residential.
That land deal set the stage for what’s about to become one of the tallest and most visible additions to the skyline. For Panepinto and AJD, the project fits into a broader strategy focused on walkable, transit-rich, waterfront living—something that’s really reshaped Jersey City over the past twenty years.
Harborside 8: What the New Tower Will Deliver
Once finished, Harborside 8 will bring a lot of new housing and amenities to the Hudson River waterfront. The tower’s scale and program reflect how the area is evolving from mostly office space into a more rounded live-work-play neighborhood.
Units, Layouts, and Amenities
The 65-story tower will have 719,726 square feet of rentable space, spread across studios and one-, two-, and three-bedroom apartments. This range aims to attract everyone from young professionals to families who want more space, all within walking distance of transit and the riverfront.
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Residents can look forward to more than 20,000 square feet of amenities, including:
At street level, plans call for 8,578 square feet of ground-floor retail. That should help activate the waterfront promenade and support local businesses.
Parking, Parks, and Public Realm
The project includes 350 parking spaces, with dedicated EV charging for electric vehicles. That’s a nod to residents who still drive, even as transit options expand.
Harborside 8 will also feature a redesigned 40,000-square-foot public waterfront park. The park ties into ongoing efforts to make the Hudson Riverfront more accessible and enjoyable for the community.
Transit Access and Planning Framework
Location might be Harborside 8’s biggest selling point. The site is just a five-minute walk from both the Exchange Place PATH station and the Paulus Hook Ferry, making it easy to reach Lower Manhattan and beyond.
For commuters, that means trips that rival or beat plenty of Brooklyn and Queens routes into central business districts.
Part of the East-Waterfront District Vision
The project sits in the East-Waterfront district of the Harsimus Cove Station Redevelopment Area. This planning framework encourages high-density, walkable, mixed-use development, which has shaped zoning and design guidelines for the neighborhood.
It’s not just bureaucratic jargon—those rules push for active ground floors, generous public spaces, and a real blend of residential, retail, and commercial uses. Investors seem confident that people will keep choosing the Gold Coast over options across the river.
Timeline and the Bigger Picture for Jersey City
Construction on Harborside 8 should kick off in the first quarter of 2026. Full stabilization—when the building’s leased up and running smoothly—might not happen until the first quarter of 2030.
That’s a long stretch. Honestly, Harborside 8 feels like a bet on the next decade of Jersey City, not just a response to what’s happening now.
For visitors and newcomers, the waterfront’s vibe keeps shifting. It’s becoming pretty clear where to stay in Jersey City, with new towers, spruced-up parks, and even more hotels popping up as the city tries to stand out as a real alternative to Manhattan.
People are looking for Jersey City hotels, luxury rentals, or just a place with a skyline view. Projects like Harborside 8 are popping up to meet that demand.
The project also adds to the list of things to do in Jersey City. You can stroll the waterfront park, grab a bite, or check out the shops in the retail spaces that link the city’s growing districts.
It’s close to major transit, too. That makes getting to Jersey City a bit easier for commuters and visitors who are starting to see the city as more than just a place to sleep outside Manhattan.
The waterfront’s changed a ton since the 1990s. Harborside 8 feels like the next piece of the puzzle, slowly reshaping how Jersey City lives, works, and looks out over the Hudson—maybe even on equal footing with New York.
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