HOBOKEN, N.J. — Locally based Ironstate Holdings has secured a $162 million construction loan provided by PCCP for the development of Hoboken Urby, a 345-unit, transit-oriented development in Hoboken. Completion is slated for early 2028. The 16-story, 418,332-square-foot project will include 307 market-rate units, 38 affordable units and approximately 17,000 square feet of retail space, which will include a café. The site is less than a quarter of a mile from the Hoboken PATH train station.
The unit mix will feature 29 studios, 220 one-bedrooms, 61 two-bedrooms and 35 three-bedrooms. Rent restrictions on the affordable units were not disclosed. Amenities will include a speakeasy-style lounge, 24-hour concierge services and a landscaped amenity deck with grills, a fitness center and a rooftop dog run.
Ironstate has developed approximately 17,000 residential units since its founding in 2002. Of those 17,000, 5,500 units are Urby-branded or managed properties. Ironstate’s previous Hoboken developments include a W Hotel and the Shipyard, a collection of six residential and commercial buildings.