JERSEY CITY, N.J. — Walker & Dunlop has arranged a $375 million construction loan to finance JFK Boulevard, a mixed-use project that will be built in Journal Square in Jersey City. The developer is Nasser Freres. The lender was Madison Realty Capital.
The project includes 840 residences, including studios, one-, two- and three-bedroom units. Eighty-four units will be designated as affordable housing. Rent restrictions have not yet been disclosed.
The development will also feature approximately 50,000 square feet of retail space anchored by a national organic grocer. An additional 36,522 square feet will be dedicated to amenities such as a fitness center, multi-sport court, co-working and library lounges, game and screening rooms, outdoor pool with sun decks, dog run, pet spa and a rooftop lounge. Completion is slated for early 2029.