Developers have secured $306 million in senior construction financing and $78 million in preferred equity for Harborside 8, a 65-story residential tower planned on the Hudson River waterfront, according to JLL Capital Markets.
The funding, arranged by JLL on behalf of Panepinto Properties and AJD Construction, will cover the land purchase and vertical construction of the 678-unit project. The senior loan was provided by Kennedy Wilson, while the preferred equity was arranged through Affinius Capital.
According to project details released this week, the tower will include 678 rental units spread across roughly 720,000 square feet. The unit mix will range from studios to three-bedroom apartments. Plans also call for 8,578 square feet of ground-floor retail, 350 parking spaces, and a redesigned 40,000-square-foot public waterfront park.
Located at 242 Hudson Street in Jersey City’s East-Waterfront district, Harborside 8 is within walking distance of the Exchange Place PATH station and Paulus Hook Ferry, offering residents direct access to Manhattan. The site falls within the Harsimus Cove Station Redevelopment Area, a zone designed to support high-density, mixed-use neighborhoods.
The development is the latest addition to Jersey City’s long-running waterfront transformation, which over the past two decades has converted former rail yards and industrial parcels into high-density residential and mixed-use projects. The area has become one of the largest waterfront redevelopment corridors in the United States, driven in part by its proximity to Manhattan and sustained demand for rental housing.
Amenities
Developers expect the building to include more than 20,000 square feet of indoor and outdoor amenity space, such as fitness facilities, an indoor pool, co-working areas and rooftop terraces. Upper-floor units are expected to have views of the Hudson River and the Manhattan skyline.
The financing for the project was arranged by JLL Capital Markets, which represented the borrower in the transaction. The JLL team was led by Senior Managing Director Thomas Didio and Managing Director Thomas E. Didio Jr., along with Ryan Robertson, Gerard Quinn and John Cumming.
In statements accompanying the announcement, representatives from the development and financing teams cited continued demand for high-end rental housing along the Jersey City waterfront despite an influx of new supply in recent years.
Construction on Harborside 8 is scheduled to begin in the first quarter of 2026, with project stabilization anticipated by early 2030. The project follows the ongoing construction of Tishman Speyer’s 58-story 55 Hudson Street tower, highlighting continued investment and growth in the waterfront rental market.
The project is being developed by Panepinto Properties in partnership with AJD Construction. Panepinto Properties has been active in Jersey City development since the late 1970s, while AJD Construction has built tens of thousands of residential units across the United States.
Harborside 8 – Project Factsheet
Location & Transportation
Address: 242 Hudson Street, Jersey City, NJ
District: East-Waterfront, Harsimus Cove Station Redevelopment Area
Transit Access:
5-minute walk to Exchange Place PATH station
Direct ferry access via Paulus Hook Ferry to Manhattan
Project Overview
Type: Luxury residential tower
Height: 65 stories
Total Units: 678 apartments
Unit Mix: Studios, 1-bedroom, 2-bedroom, and 3-bedroom apartments
Rentable Space: 719,726 square feet
Additional Features
Retail: 8,578 sq ft ground-floor retail space
Parking: 350 spaces with EV charging stations
Public Space: 40,000 sq ft redesigned waterfront park
Amenities
Over 20,000 square feet of premium amenity space including:
Fitness center
Indoor swimming pool
Yoga studio
Golf simulator
Rooftop terraces
Co-working rooms
Wine bar
Panoramic views of NYC, Hudson River, and Statue of Liberty
Project Timeline
Groundbreaking: Q1 2026
Stabilization: Q1 2030
Development Team
Developers: Panepinto Properties & AJD Construction
Lender: Kennedy Wilson & Affinius Capital
Capital Markets Advisor: JLL Capital Markets
