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NJCU, KKF University Enterprises break ground on University Place redevelopment

Jersey City Mayor Steven Fulop joins NJCU and KKF at the groundbreaking ceremony for University Place (NJCU).
Jersey City Mayor Steven Fulop joins NJCU and KKF at the groundbreaking ceremony for University Place (NJCU).

New Jersey City University and developer KKF University Enterprises LLC recently held a groundbreaking ceremony at the second of four mixed-use residential buildings at the University Place redevelopment in Jersey City.

The $83 million public-private partnership project will build 301 market-rate apartments across two buildings, which consists of 11,000 square feet of commercial space along West Side Avenue and 303 parking units.  

“The University Place Redevelopment Project is a game changer,” NJCU President Dr. Sue Henderson said. “Through public-private partnership, we are moving another step closer to revitalizing our city’s west side while enhancing university life and providing physical amenities in a debt-free way that otherwise would not be financially possible.”

The venture partners, NJCU and KKF, said they will first build a $43 million, 205,400-square-foot residential building with 149 apartments and 151 parking spaces scheduled for occupancy for Fall 2018.

“University Place is a collaboration that was conceived more than a decade ago,” Henderson said. “It began as a vision of NJCU’s board of trustees, Foundation board and executive leadership team. Working together with forward-looking city, county and state officials who saw the need for the revitalization of Jersey City’s west side, University Place was launched as a “P3” – Public Private Partnership – thanks to the engagement of a team of entrepreneurial developers. The buildings are being constructed at no cost to NJCU students or the University.”

The University Place development is a $400 million public-private partnership. The redevelopment project will deliver additional shops, a supermarket and other retail amenities to the university and Jersey City. Completion for the first of four mixed-use residential buildings is slated for completion in 2018. 

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