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Amid a general slowdown, a New Jersey project marks one of the two largest multifamily construction starts across the U.S. to get underway in July.

On Aug. 22, Dodge Construction Network identified the $365 million 20 Long Slip Apartment Tower-Pool in Jersey City, along with a $552 million New York development, as the biggest to break ground last month.

Situated within Newport, LeFrak announced plans for the 47-story project last April. Beyond the latest milestone, the project is notable for its staggering height. The tower marks the tallest within the master-planned waterfront neighborhood.

20 Long Slip is set to feature 529 units as well as more than 2,300 square feet of retail space, according to project plans. It will also include 239 parking spaces. The development is slated to rise as a trio of towers.

The latest bookends Newport’s 1.1-mile stretch along the Hudson River Waterfront Walkway. More than 20,000 people call the live-work-play neighborhood’s 16 luxury rental buildings home. In addition to Manhattan views, the length of the waterfront offers playgrounds, public art installations, programming and other amenities.

Bigger picture

Regionally, total construction starts in July rose in the Northeast, but declined in the Midwest, West, South Central and South Atlantic. In its report, Dodge noted nonresidential starts were down significantly (30.1%) for July. Overall, total construction starts ticked down 10.2% last month to a seasonally adjusted annual rate of $1.19 trillion, Dodge reported.

Residential starts were down just 3.1% (seasonally adjusted annual rate of $365 billion). Of that, single family starts decreased by 1.2% and multifamily starts dropped 9.5%.

Regionally, Dodge said the Northeast posted gains for total construction starts in July. It noted declines in the Midwest, West, South, Central and South Atlantic.

On a year-to-date basis through July, total construction starts were up 1.6% from last year, Dodge said.

• Nonresidential starts – up 4.3%
• Residential starts – down 4.4%
• Nonbuilding starts – up 5.3%

For the 12 months ending July 2025, total construction starts were up 4.1% from the 12 months ending July 2024. Over the same period:

• Residential starts – down 0.7%
• Nonresidential starts – up 4.6%
• Nonbuilding starts – up 9.3%

For the 12 months ending July 2025, multifamily starts increased 5.5%.