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Arden Group and Spitzer Enterprises announced in mid-June that they had topped out a planned 26-story apartment tower at 425 Summit Ave. in Jersey City. — Courtesy: Arden/Sptizer
By Joshua Burd
The developers of a new 390-unit luxury apartment tower in Jersey City are on track to deliver the building next year after recently completing its concrete frame.
The firms, Arden Group and Spitzer Enterprises, joined construction manager ZDG last month to mark the milestone at 425 Summit Ave., one of the latest projects to rise in the city’s booming Journal Square section. Construction has been underway since 2021, as the partners look to capitalize on a location just south of the Journal Square Transportation Center, allowing residents to access New York City in as little as 15 minutes.
MHS Architecture designed the 26-story building.
“Arden is thrilled to celebrate this critical development milestone at 425 Summit Avenue with our partner Spitzer, as well as our numerous collaborators on the project,” said Craig A. Spencer, chairman and CEO of Arden Group. “We look forward to sharing this beautiful new development with the Jersey City community, which will offer a new residential option for tenants seeking competitively priced luxury living with easy access to Manhattan.”
Affiliates of Arden and Spitzer Enterprises are jointly funding the $150 million project, which represents their first building in Jersey City, according to a news release. Plans call for amenities such as a golf simulator, a fitness center and a resident lounge with sweeping views of Jersey City and New York City, as well as ground-floor retail space and parking.
They noted that the building occupies more than a half-acre on Summit Avenue.
“We are proud to participate in the continued growth of Jersey City as it emerges as a cultural and residential destination in its own right,” Spitzer Enterprises’ Eliot Spitzer added.
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