The skyline near Jersey City’s Journal Square is reaching its final form as a new 13-story upscale residential and commercial tower at 166 Van Reipen Avenue enters the final stages of construction.
Financed through a $35 million construction loan from Kearny Bank in late 2024, the project is a testament to the continued development surge in Jersey City’s transit-oriented neighborhoods. As of April 2026, the building is reported to be 94% complete, with the finishing touches expected to be wrapped up within the coming weeks.
The development, led by the RKS Group, is designed to cater to the modern urban professional. By blending residential luxury with functional commercial space, the project aims to further revitalize the area surrounding the Journal Square PATH Station.
The project features a diverse mix of uses:
- Residential: 196 upscale apartment units.
- Office Space: 14,500 square feet of modern workspace.
- Retail: 4,300 square feet of ground-floor retail space, intended to boost local foot traffic.
High Rise Construction Solutions is serving as the general contractor, navigating the project toward its imminent grand opening.
For Kearny Bank, this project represents a significant piece of a much larger regional strategy. The bank has been an aggressive player in the Northeast real estate market, providing over $500 million in financing for commercial projects across six states—New Jersey, New York, Connecticut, Delaware, Maryland and Pennsylvania—over the last two years.
“We’re proud to support this project, which we’re confident will have an immediate positive impact,” Gary Brozowski, Kearny Bank’s Director of Commercial Real Estate Lending, said. “Working in conjunction with experienced developers like RKS Group, we remain focused on financing opportunities that will strengthen communities throughout Jersey City and surrounding areas.”
The location at 166 Van Reipen Avenue is strategically positioned to leverage Jersey City’s status as a premier “sixth borough” for New York City commuters. Its proximity to the Journal Square Transportation Center provides residents with 24/7 access to Lower and Midtown Manhattan, making it a high-demand pocket for developers and lenders alike.
As the final scaffolding comes down this spring, the tower stands as a symbol of the “cautious optimism” currently defining the New Jersey real estate market—where high-quality, transit-linked assets continue to secure significant capital despite broader economic headwinds.
