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Work is underway on the next component of Hudson Exchange, one of the largest – and most anticipated – redevelopment projects in Jersey City, which will add living and retail space downtown, including a new ShopRite supermarket.

Brookfield Properties and G&S Investors, in partnership with lenders Ullico, Washington Capital and AFL-CIO Housing Investment Trust, held a groundbreaking ceremony for the second phase of Hudson Exchange June 13 with Jersey City Mayor Steven Fulop and members of the community on hand to celebrate.

Located at 420 Marin Blvd., the 1.2 million-square-foot mixed-use tower will include 802 luxury rental apartments and 115,000 square feet of retail space—85,000 of which is pre-leased for the grocery store.

The 60-story tower will stand 634 feet, according to its developers, affording skyline views of Manhattan and the New Jersey riverfront. On the ground, the project includes more than 20,000 square feet of publicly accessible green space, the development team said, with plazas, a new dog park and the Sixth Street Embankment Plaza, which will serve as the entrance to a new public park, of the same name, that the city is building on the site of an elevated rail line.

“Jersey City is leading from the front in supporting development that balances the needs of new residents and the existing community,” said Robert Pears, vice president at Brookfield Properties. “We’re proud to build upon the success of the first phases of Hudson Exchange, which include two residential towers, both of which were fully leased in record time, demonstrating that demand for quality housing in Jersey City continues unabated.”

Two blocks from the Hudson River, Hudson Exchange is an 18-acre master-planned development that will comprise 6 million square feet of development with 5,500 residential units. Currently, the site houses VYV North and VYV South – two 36-story luxury apartment buildings with 850 residential units, 20,000 square feet of retail space and 450 parking spots.

According to G&S Investors partner Abe Naparstek, Phase II’s start represents the third multifamily building his firm has built with Brookfield within the Hudson Exchange master plan. “In addition to bringing high-quality rental housing to Jersey City, it was critical for this dynamic second phase to facilitate the creation of new, connective open space,” he said. “Through a robust collaboration with the City of Jersey City and Embankment Preservation Coalition Board, we modified our original plans to create the Sixth Street Embankment Plaza, which will incorporate a variety of exciting retail options, public art and green infrastructure for the community to enjoy.”

The inclusion of the Metro Plaza ShopRite in the new building also reflects the project’s aim to align itself with the community. The affordable neighborhood grocery option, an Inserra Supermarkets store, will relocate from a nearby building to continue its more-than-three-decade residency in the city. The project partners said the new, state-of-the-art store will feature internalized parking and loading areas, adding another amenity for residents and community members.

Fulop said the new location would allow the store to better serve city residents.

“Our residents deserve access to vibrant food stores for their daily shopping needs and I’m thrilled that the new location for this longtime community staple is being built entirely with Union labor,” he added.

Ullico Senior Vice President Herbert Kolben echoed that collaboration, saying that “The Hudson Exchange development illustrates how union labor can partner with a great development team to redevelop a complex urban project.

The project is designed by architecture firm Beyer Blinder Belle. The contractor is Consigli Construction Co. Inc., a fourth generation, 100% employee owned construction manager and general contractor with offices in Massachusetts, Maine, Connecticut, New York and Washington, D.C.

Apartments will feature quartz countertops, walk-in closets and in-unit washer/dryers; amenities at the property are set to include include a rooftop pool, a social lounge, a fitness center, a game room, a dining/conference room, a coworking lounge and more.

Editor’s note: This story was updated at 9:50 a.m. ET on June 23, 2o23, to include the contractor for the project.