Exchange Place Alliance names 3 new board members

Jersey City’s Exchange Place Alliance added Joe Panepinto, Abe Naparstek and David Elkouby to the organization’s board, replacing three departing directors.

The EPA, which works to attract new businesses and promote economic growth in the area, said Jan. 30 that the trio will join President Michael DeMarco, Jeremy Farrell of LeFrak, Andy Siegel of the Historic Paulus Hook Association and Jersey City Council President Joyce Watterman on the board. Incumbent directors Steve Pozycki and Gus Milano – who have served on the board since the group’s creation – and Ricardo Cardoso are stepping down.

“In Joe, Abe and David, we are excited to have their talent and advice as we move to the chapter of the Alliance’s growth,” said Elizabeth Cain, EPA’s executive director. “Our Plaza renovation will be complete making the site one of Jersey City’s jewels, we have a record number of activities planned for this year and new signage is coming shortly to the Hudson River Walkway all to enhance the experience of residents, workers and visitors.”

Panepinto is the founder of Panepinto Properties, a large owner of real estate in Jersey City and elsewhere around the state. He is a contributor and serves on the board of St. Peter’s College and contributed to St. Patrick’s, the Jersey City Medical Center and Liberty Science Center, among others. Panepinto is also one of the original developers in the Jersey City renaissance.

Naparstek, a partner at G&S Investors, is leading the redevelopment of Metro Plaza in the EPA district with plans for 6 million square feet, of which the firm has already completed 1.2 million square feet. He has been involved in other business improvement districts, including the MetroTech Business Improvement District.

Elkouby is the founder of American Equity Partners, the owner of 15 Exchange Place, which is currently undergoing a renovation. Since founding the firm in 2000, he has purchased, managed and sold more than $3 billion of residential and commercial assets. In addition, he has developed over 2 million square feet of retail space and has worked closely with EPA in the redevelopment of Exchange Place.

“We spoke over the last several years with may qualified candidates who expressed interest in being on the board. We looked for candidates who have a deep love for Jersey City, service without compensation, and skill in either law, business, accounting, or construction. In that pursuit, with Joe, Abe and David, we identified three extraordinary candidates who have come to us through conversations with the public, property owners, and City officials,” DeMarco said.

“We thank Steve, Gus and Ricardo for their dedication to the community and are grateful for the long service to EPA,” he added.