Some years ago, the city zoned the Journal Square neighborhood for concentrated high-rise development in the blocks around the heavily traveled PATH station and Transportation Center, which provide streamlined commutes to Manhattan. The Journal Square PATH station has the ^fourth-highest volume of any station on weekdays, and is second only to the World Trade Center station on weekends. The bus station at the transit center handles 4.2 million passengers a year.

Once a thriving commercial district, historic Journal Square is currently replete with dollar stores, fast-food places, and check-cashing outlets. But its potential to become a “powerhouse” mixed-use neighborhood is “astounding,” says Antonicello.

Other development proposals at Journal Square have been stalled for years, but KRE declares itself ready to go – if a package of tax incentives is approved by the state Economic Development Authority. Antonicello says he and other city officials are strongly backing KRE’s application for an Urban Transit Hub Tax Credit award, since the program was precisely designed to jumpstart this kind of redevelopment.

Persky says ground could be broken for the first 50-story tower with 500 units by the end of 2013.

There is one other possible hurdle to the start of construction: potential objections from local neighborhood groups, who have expressed “anti-tower sensitivities,” as Persky put it, during public meetings held by the developer and redevelopment agency.

But Persky and Antonicello both expressed confidence that concerns of residents had been assuaged with accommodations to building plans, including provision of public space around the apartment towers – and street-traffic control, with a pedestrian passageway from the towers to the PATH station.

Another developer, Multi-Employer Property Trust/Harwood, had won city approval six years ago to put up two residential towers with street-level retail space on a separate site at Journal Square. Neighbors also expressed concerns with that proposal, which then became snarled in difficulties with financing.

That project, designed to have 1,500 units, is now close to moving forward, also, according to Antonicello. He said that MEPT is currently considering a bevy of partnership offers, now that the economy and housing market have improved.

“Somebody has to start it at Journal Square,” says the KRE developer. “We will. And then, I believe a lot of activity will follow.”

The KRE towers will be upscale - although Persky said it has not been determined whether they will be “ultra-luxury,” like the Monaco Towers in downtown Jersey City that broke rental price barriers when they opened last year.

Amenities at the Journal Square buildings are to include a private fitness center, spa, swimming pool, outdoor barbecue area, and dog run. Preliminary plans are to set some of the outdoor space atop a tall lobby that joins the three towers.

Antonicello said his agency is going to “double down” on efforts to move revitalization of Journal Square along. While Antonicello has been highly frustrated with the pace of another redevelopment effort, publicly assailing developer Peter Mocco for dragging his feet on the massive Liberty Square North development – and for filing for bankruptcy last spring, although that has since been resolved – he said he believes absolutely that tangible progress will occur soon at Journal Square.

“This is the next step for our city,” he said. “Growth goes where the focus goes – and Journal Square and the core city is our Number One focus now and into the future.”