A landmark $1 billion multifamily development, with a pair of 64-story towers and roughly 1,700 apartments, has helped transform an aging commercial district into a vibrant residential neighborhood in New Jersey's second-largest city.
The Journal, built directly above a PATH train station in Jersey City, is a multi-phased project from Kushner Cos., which several decades ago envisioned a new future for the site. The developer wanted to see that neighborhood, Journal Square, redefined as an area with housing, culture and easy access to transportation.
The massive project earned a 2026 CoStar Impact Award as the multifamily development of the year for Northern New Jersey, as judged by real estate professionals familiar with the market.
The development reflects a reimagining of a previously underutilized, transit-adjacent site into a mixed-use residential hub. The Journal incorporates smart-growth principles, reduces residents' reliance on automobiles and reinforces Journal Square's role as a regional transportation center.
About the project: More than 40,000 square feet of amenities were built into The Journal, including a full-sized basketball court, an Olympic-sized pool, a climbing wall, coworking spaces, a podcast room and multiple outdoor terraces.
The Journal also offers a curated retail component, with special attention given to selecting a tenant — Target — that would benefit not only residents but the broader neighborhood. The inclusion of a Target store provides convenient access to groceries, pharmacy services, clothing and household goods, addressing everyday needs while reinforcing Journal Square as a complete and livable neighborhood.
The Journal's success is reflected in its strong performance, with more than 650 apartments leased in the first phase within nine months at the highest rents in the neighborhood. Leasing for the second phase has already begun.
What the judges said: Jason Crimmins, CEO of Blau & Berg Co., simply described The Journal as "perfection." William Hanson, president and managing principal at NAI James E. Hanson, called it a "transforming development."
They made it happen: Kushner Cos., Woods Bagot Architects, Westminster Management, AJD Construction, Genova Burns, 11FiftyNineRole, Langan Engineering, and Barone Engineering.
CoStar Market Manager Amanda Thomas contributed to this report.