$220M Construction Loan Goes to Mixed-Use Tower in Jersey City

Integritas Capital and Kriss Capital have provided $220 million in construction financing for Imperial Tower, a 56-story, 827,867-square-foot mixed-use development located at 2966 John F. Kennedy Blvd. in Jersey City’s Journal Square neighborhood. The financing supports one of the largest ground-up developments currently being advanced in the submarket.

“Imperial Tower represents a thoughtfully planned mixed-use development in a premier transit-oriented location that addresses a growing demand for housing and hospitality in one of the region’s most dynamic neighborhoods,” said Stephen Palmese, managing principal at Integritas Capital. “Our background as developers, combined with the construction expertise embedded throughout our vertically integrated platform, enables us to assess complex projects through a lens that many traditional lenders cannot.”

Upon completion, Imperial Tower will deliver 542 residential units, a 154-key Marriott-flagged hotel and approximately 34,105 square feet of ground-floor retail space. The project is being developed by Kuldeep “Sunny” Kumar and Mohan Myneni, with Noble Construction serving as general contractor and MVMK Architecture serving as architect of record.