New York & Tri-State + Tri-State + Apartments | January 31, 2019

Circle Squared, PRC JV for Jersey City Apartments

Circle Squared Alternative Investments and the PRC Group of Companies have formed a joint venture to build 144 units of market-rate apartments on Jersey City’s West Side.

The 132,000-square-foot property will be the second of four apartment buildings planned for University Place, a $400-million redevelopment in partnership with the city and New Jersey City State University. When completed, University Place will also include graduate student housing, a performing arts center and grocery-anchored retail.

“We have been a part of the redevelopment of the West Side of Jersey City for some time now and, thus far, tremendous progress has been made, with even more transformative development on the horizon,” said Circle Squared’s Jeffrey Sica.

“The PRC Group is a 60-year-old amalgamation of companies with an exceptional track record as a construction manager and developer,” he added. “We couldn’t have found a better partner for this stage of the University Place project.”

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).