The Jersey City Planning Board will soon hear an application for a two-phase project at 547 and 555 Summit Ave, taking up the whole western frontage of Summit Ave between Pavonia and Van Reipen Avenues.
The project was submitted to the Planning Board in May of 2025 and is designed by C3D Architecture. It would contain 1,517 homes, 5,482 square feet of retail, 41 hotel rooms, and 874 bike parking spaces. The project would be built in two phases, as two separate but connected 47-story towers. Like most other new buildings in Journal Square, no automobile parking is required or provided; the Journal Square Transportation Center is across the street and the site has a WalkScore of “98–Walker’s Paradise.” Following the Journal Square 2060 10% affordable housing set-aside, 153 homes would rent at below-market rents.
The most distinctive aspect of the project is at ground level: a pedestrian/bike walkway would pass between the two towers, connecting to Homestead Place through two other towers currently under construction at 612 Pavonia Ave and 29 Van Reipen Ave. This pedestrian walkway will be called Homestead Market and will be lined with retail spaces.
The construction of the Homestead Market passageway would add to a list of proposed pedestrian connectivity improvements for Journal Square, including a connection along the southern rim of the PATH cut between Kennedy Blvd and Tonnelle Ave tentatively called the “Art Walk,” a promenade between Enos Pl and Sip Ave planned as part of the 30 Journal Square redevelopment, a connection between Summit Ave and Baldwin Ave along the northern rim of the PATH tracks proposed as part of the 500 Summit Ave project, and a connection between High St and Baldwin Ave as part of the 438 Summit Ave project. The Homestead Market passageway itself will likely be extended in the future as part of another project we will reveal soon.
Collectively, these improvements should provide a bevy of new car-free options for getting around Journal Square, cut walking times between many points in the neighborhood, and provide more retail options and open space within walking distance for area residents.
A conservative estimate of the proposed project’s property taxes would be in the neighborhood of $10-$12 million, divided between the city, county, and public school system. The project is not seeking a PILOT.