Rendering courtesy of JLL Capital Markets
Lions Group has secured a $200 million structured loan for Homestead Gateway, a 360-unit mixed-income residential tower in Jersey City, N.J.
Goldman Sachs provided the financing package, which included a construction loan, bridge facility, Low-Income Housing Tax Credit (LIHTC) equity, as well as a Freddie Mac commitment. JLL Capital Markets brokered the deal on behalf of the borrower.
Additionally, the project received a $90 million tax credit award in September 2025, through the Aspire program, Real Estate NJ reported.
Scheduled to break ground early next month, Homestead Gateway is a redevelopment of a former municipal parking lot which will be transformed into a community enclosing 90 affordable housing units and 270 market-rate residences.
Located at 701 Newark Ave., the project is close to Interstate 78, U.S. Route 9 and New Jersey State Route 139. Downtown Manhattan is within 9 miles northeast.
Designed by C3D Architecture PLLC, the future 34-story tower will feature 93 studios, 224 one-bedroom, 31 two-bedroom and 12 three-bedroom apartments, Yardi Matrix information shows.
Shared amenities will include a rooftop lounge, a fitness center, bicycle storage, workspaces and 3,000 square feet of ground-floor retail space. The construction process will utilize solely union labor under a Project Labor Agreement with Hudson County Building Trades.
JLL Capital Markets Vice President Jimmy Cochran, Senior Directors Nicco Lupo and Jillian Grzywacz, Senior Managing Director Christopher Peck, Managing Directors Michael Shmuely and Tom Didio Jr. and Director Alex Staikos worked on behalf of Lions Group to secure the financing.
Northern New Jersey’s development activity
As of November, multifamily development in Northern New Jersey included 86 residential properties under construction, set to add more than 24,000 units to the existing stock, according to Yardi Matrix data. Out of the total number, only 305 units were fully affordable, accounting for 1.3 percent, while partially affordable (10,546 units) and market-rate residences (13,214 units) made up 43.8 and 54.9 percent, respectively.
Current noteworthy multifamily projects under-construction in Jersey City include Tishman Speyer’s 50 Hudson St., a 40-story development that represents the second phase in a two-building project.
Additionally, BXP, CrossHarbor Capital and Albanese Organization will develop 290 Coles St., a 670-unit market-rate community in the area, while earlier in summer, Panepinto Properties topped out 505 Summit, a 605-unit project slated for completion in the spring of 2026.
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