The 18-story development at 1300 Jefferson Street, financed with an equity commitment from Pacific Life and a construction loan from Truist, calls for the construction of 357 homes and 25,000 square feet of retail space. Also included in the project at 37 affordable units, including 20 on-site residences and 17 off-site residences for veterans in Hoboken.
Groundbreaking for 1300 Jefferson StreetLincoln Property Company
Pegasus has endeavored for the past 14 years to transform the surrounding industrial zone into a mixed-use neighborhood, partnering with Lincoln on the project in 2024.
“After more than a decade of work, this milestone moves our long-envisioned plan for northwest Hoboken into construction,” said Pegasus Partners co-founder Mark Luis Villamar in a news release. “With Lincoln’s partnership, we can deliver a development that will serve the community for generations.”
Renderings of the project depict a boxy, contemporary high-rise.
- Hoboken (Urbanize NYC)
