JERSEY CITY, N.J. — KRE Group has secured a $175 million senior construction loan for the development of Artwalk Towers, a 49-story high-rise project located in Jersey City’s Journal Square neighborhood. Beverly Hills, California-based Kennedy Wilson provided the funding.
Artwalk Towers will comprise 595 units. Upon completion, the building will feature a street connector to a PATH train station, pool, barbecue area, gym, coworking spaces and a sky lounge with views of the New York City skyline. The project is slated for completion by the fourth quarter of 2027.
KRE Group is a family-owned real estate investment and management firm with properties in New Jersey, New York and Pennsylvania. The locally based company has developed about 1,800 apartments in Journal Square across multiple projects. KRE Group’s portfolio consists of 15,000 existing units, with thousands more in development.