The 53-story building is the first of a three-phase project. Phase II will include 700 rental residences in a 70-story building, while Phase III will feature 600 rental homes in a 60-story building. The project will also include parking for 920 cars, and the developers will pursue LEED certification for all three buildings.

"We're moving quickly to realize our vision for this game-changing project in Jersey City, which combines vanguard design, unmatched transportation links, and outstanding public amenities," says Jeff Kanne, president and CEO of National Real Estate Advisors. "It offers the best of what inspired urban redevelopment must deliver: a highly attractive city environment, convenient lifestyles, and an anchor for future growth."

The development is creating more than 700 jobs in Jersey City, including construction and eventual full-time employment opportunities.

"We're delighted to be here today to recognize the combined efforts of our construction and design teams and the many skilled tradespeople who have helped us get to this point," says Jonathan Kushner, president of The KRE Group. "We believe this iconic project will serve as the centerpiece of a resurgent urban neighborhood by creating much-needed residential, retail and open space that complements the existing mass transportation infrastructure."

Designed in collaboration by HWKN and Handel Architects, Journal Squared will take full advantage of Journal Square's extensive transportation network highlighted by covered access from the residential lobby to the entrance of the PATH Station which offers rail service to lower and midtown Manhattan, Jersey City, Hoboken and Newark. Approximately 1,200 NJ Transit and private buses also serve the neighborhood on a daily basis, offering residents convenient access to major employment and recreation centers on both sides of the Hudson River without having to depend on their cars.

A significant community element of Journal Squared will be a new public plaza that will be built along the Magnolia Avenue entrance to the PATH station. At the heart of the plaza will be an open space courtyard lined with trees, greenery and seating to encourage pedestrian activity and social interaction. The plaza will also feature a "kiss-and-ride" cul-de-sac for safe and convenient commuter pick-up and drop-off.

Participating in the topping-off ceremony, from left: Jeffrey Kanne, president and CEO of National Real Estate Advisors; Dan Gumble, business manager of the International Brotherhood of Electrical Workers Local 164; Murray Kushner, chairman and CEO of The KRE Group; Kevin Verdi, managing director of National Real Estate Advisors; Steven Fulop, mayor of Jersey City; and Jonathan Kushner, president of The KRE Group.