#United States #Jersey City #JLL #Harborside 8

JLL Facilitates Financing for Harborside 8

On December 16, 2025, JLL's Capital Markets team announced that they successfully secured $384 million in funding for the Harborside 8 development in Jersey City, New Jersey. This financing package includes $306 million in senior non-recourse construction financing and $78 million in preferred equity, showcasing JLL's prowess in real estate capital solutions.

Harborside 8, set to rise as a luxurious high-rise along the Hudson River, will house 678 residential units. Not only does the development promise prime living spaces, but it also ensures accessibility to the vibrant lifestyle of Manhattan, located just a five-minute walk from the Exchange Place PATH station and Paulus Hook Ferry. This strategic positioning allows residents to enjoy the benefits of waterfront living combined with convenient transportation options across the Hudson River.

Insights into the Development

The project is located within the East-Waterfront district of the Harsimus Cove Station Redevelopment Area, an initiative that emphasizes high-density, walkable neighborhoods. The site marks a significant milestone in Jersey City's waterfront redevelopment story, which has undergone dramatic transformations over the last two decades. Abandoned rail yards and old industrial sites have transformed into flourishing mixed-use developments, making the Jersey City waterfront one of the most sought-after residential markets in the United States.

Harborside 8's ambitious plans include a 65-story residential tower, offering a staggering 719,726 square feet of rentable space. The units range from studios to three-bedroom apartments, catering to a diverse demographic. Additionally, 8,578 square feet will be allocated for retail space on the ground floor, providing convenient shopping options for residents. The development also plans to include 350 parking spaces equipped with EV charging stations and a redesigned public park that spans 40,000 square feet, contributing green spaces to the urban landscape.

Luxury Amenities and Lifestyle

Potential residents can expect an extensive range of amenities, encompassing over 20,000 square feet dedicated to comfort and entertainment. Features will include a state-of-the-art fitness center, an indoor swimming pool, a yoga studio, a golf simulator, rooftop terraces, co-working spaces, and a sophisticated wine bar. The luxury community is designed to offer not just residences, but a lifestyle of comfort and leisure while providing spectacular views of the bustling New York City skyline, the tranquil Hudson River, and even the Statue of Liberty.

Experts Weigh In

Senior Managing Director Thomas Didio, who leads the JLL Capital Markets team representing the developers, highlighted that this financing symbolizes Jersey City's status as a top-tier rental market. He noted that the project's success results from the ongoing high demand, which continues to outpace the supply of luxury housing. The financing partnership involving Kennedy Wilson and Affinius Capital demonstrates confidence in the development's potential and the local expertise of the teams involved.

Joseph Panepinto, Sr. of Panepinto Properties, expressed his excitement as the project comes to fruition, drawing a connection back to the original land acquisition in 1996 that enabled the development of Harborside Plaza 10, emphasizing the transformative journey of real estate projects in the region.

Kennedy Wilson’s Thomas Whitesell echoed the sentiment, emphasizing the importance of partnerships in launching significant projects that contribute dramatically to local economies and neighborhoods. Both developers are set to break ground in the first quarter of 2026, with the stabilization of Harborside 8 expected by the first quarter of 2030.

Conclusion

As a critical player in Jersey City's booming real estate market, JLL's Capital Markets group continues to facilitate key developments that not only change skylines but also enhance community living. The Harborside 8 project is set to redefine luxury living along the Hudson River, proving once again that Jersey City is a locale to watch in the coming years.