A 69-story tower with 748 rental apartments is headed for Jersey City's waterfront after developers secured a $277 million construction loan for the project at 201 Hudson Street. The building, rising 677 feet with a rectilinear glass tower atop a multi-story podium, is the second phase of the Urby master plan and the northernmost of the plan's two remaining towers still to be built.
Truist provided the construction loan, with syndication led by Truist Securities, according to Commercial Observer. The debt was arranged by a Newmark advisory team led by Jordan Roeschlaub, Chris Kramer, Holden Witkoff, and Jack Fenton. As reported by New York YIMBY, the tower will span approximately 528,000 square feet and include roughly 10,000 square feet of ground-floor retail space, with residences ranging from studios to three-bedroom layouts, all offered at market rate.
A Second Act for the Urby Master Plan
The site's path to financing began in July 2026, when Urby and Boston-based private equity firm Rockpoint formed a joint venture to acquire the 201 Hudson Street parcel from Brookfield for an undisclosed price, with Newmark advising both parties on the joint venture's capitalization, per the same Commercial Observer report. That transaction set the stage for the loan announced weeks later. Per Private Real Estate Daily, the $277 million financing facility values the planned skyscraper at approximately $370,000 per residential unit and $525 per rentable square foot.
The project traces back further than this year's deal-making. Per New York YIMBY, the 201 Hudson Street development was envisioned as part of 2012 amendments to the Harborside Financial Center master plan, and municipal records show the site plan for 191-201 Hudson Street was officially approved under Case P22-094 within the Exchange Place North Redevelopment Plan's Harborside West District, granting variances for story count, base height, and facade glazing, according to the Jersey City Open Data Portal.
The first phase of the master plan opened in 2017 as Jersey City Urby, a 69-story, 762-unit tower at 200 Greene Street co-developed by Ironstate Development and Roseland Residential Trust, according to New York YIMBY. Urby later sold that first-phase property to Veris Residential, which was subsequently acquired by Affinius Capital, transferring ownership and eventually leading to the property's rebranding as Sable. Hoodline has previously connected Ironstate's affiliate CBSK to that first Urby tower across the street.
Amenities and Design Details
Concrete Amsterdam designed 201 Hudson Street, with HLW International serving as architect of record, per New York YIMBY. The tower will forgo offset sections entirely in its massing, a departure the outlet notes from an approved third tower to the south of the site, which retains a subtler version of the original massing shifts.
Inside, the building will include structured parking with a 272-space garage within the podium, plus a rooftop atop that garage featuring an outdoor pool and a landscaped garden hill, according to New York YIMBY's reporting. Residents will also have access to a fitness center, social and coworking spaces, curated food and beverage offerings, valet parking, and other lifestyle amenities and outdoor recreation areas. The greenery between 201 Hudson Street and Harborside 5 will be upgraded with a new pedestrian walkway and park space, the outlet reports.
Once complete, operations and leasing will be co-managed by Urby alongside Rockhill Management, Rockpoint's property services affiliate, according to Institutional Real Estate, Inc., with Rockhill handling asset management while Urby oversees branding and lifestyle leasing.
Why Lenders and Developers Keep Betting on the Waterfront
Developers estimate that full construction of the tower will take approximately three years to complete, according to The Real Deal, extending active high-rise work on the waterfront through 2029. Part of the appeal is transit: the project is expected to offer residents an estimated 10-minute commute to Manhattan via the Exchange Place and Grove Street PATH stations, NY Waterway ferries, and NJ Transit routes, per Commercial Observer.
Rockpoint executive Dan Domb told the outlet that the waterfront submarket represents roughly 10 percent of Jersey City's total land mass but accounts for 35 percent of its rental housing base, a share that has grown from 10,000 units in 2010 to 22,000 units in 2026. Rockpoint has been building its Jersey City footprint for years, having acquired the 326-unit Embankment House and Revetment House portfolio in Hamilton Park in September 2023 and purchased Morgan Provost Square on the waterfront in October 2025.
The 201 Hudson Street tower also isn't rising in isolation. Just two blocks away, real estate firm Esen this month announced plans for a $1.5 billion, three-tower development totaling roughly 2,000 units at 310 Washington Street, according to Real Estate Partners, converting a former surface parking lot into a dense residential district. Together, the projects underscore downtown Jersey City's continuing shift from a commercial office district toward a high-density residential waterfront, with new food and retail tenants, including a Colombian food vendor near Harborside, already moving in around the construction activity.
