Integritas Capital and Kriss Capital announced that they have provided $220 million in construction financing for Imperial Tower, a 56-story, 827,867-square-foot, mixed-use development located at 2966 John F. Kennedy Boulevard in Jersey City’s Journal Square neighborhood. The financing supports one of the largest ground-up developments currently being advanced in the submarket.
“Imperial Tower represents a thoughtfully planned mixed-use development in a premier transit-oriented location that addresses a growing demand for housing and hospitality in one of the region’s most dynamic neighborhoods,” said Stephen Palmese, managing principal at Integritas Capital. “Our background as developers, combined with the construction expertise embedded throughout our vertically integrated platform, enables us to assess complex projects through a lens that many traditional lenders cannot.”
“Journal Square continues to experience strong population growth and investment activity, and we are pleased to provide financing for a project that will expand housing supply, introduce new hospitality accommodations and contribute to the neighborhood’s continued evolution,” said Jody Kriss, founder of Kriss Capital.
Upon completion, Imperial Tower will deliver 542 residential units, a mix of studio, one-, two- and three-bedroom residences, as well as penthouse units; a 154-key Marriott-flagged hotel and approximately 34,105 square feet of ground-floor retail space. A total of 57 of the building’s residential units will be designated as affordable.
Originally envisioned as a smaller-scale development, Imperial Tower evolved into a 56-story mixed-use project following a multi-year planning and approvals process. The project is being developed by Kuldeep “Sunny” Kumar and Mohan Myneni, with Noble Construction serving as general contractor and MVMK Architecture serving as architect of record.
“From the outset, our goal was to create a landmark mixed-use destination that supports the continued evolution of Journal Square,” Kumar said. “Integritas Capital recognized the strength of that vision and has been an finvaluable partner in helping bring it to life, and we look forward to advancing a project that expands housing opportunities and contributes to the neighborhood’s long-term growth.”
Imperial Tower will feature a contemporary glass façade, expansive views of the Manhattan skyline and a comprehensive suite of lifestyle amenities, including a rooftop infinity pool, fitness center, coworking lounges, private screening theater, library, children’s playroom and dedicated pet facilities. New retail offerings and streetscape improvements will activate the property’s frontage along John F. Kennedy Boulevard.
Located directly adjacent to the Journal Square PATH station, the development offers convenient access to both Lower and Midtown Manhattan and sits within one of the New York metropolitan area’s fastest-growing transit-oriented neighborhoods.
Upon projected completion in 2028, Imperial Tower will stand among the tallest residential towers in Journal Square.
