By Chris Fry – JerseyDigs
One of Jersey City’s fastest-growing neighborhoods has yet another high-rise in the works as a huge parking lot has a planned renaissance that includes a mixed-use development with a new public plaza.
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Just before Thanksgiving, an application was submitted that could bring new life to 499-501 Summit Avenue. Currently a surface parking facility adjacent to the Journal Square Transportation Center, the entirety of the property spans about an acre and backs up to trackage for the PATH trains built beneath the cliff.
The land has been owned since the mid-1990s by Pathside LLC, a subsidiary of Panepinto Properties. The latest proposal submitted by the company calls for a 53-story tower set to rise just over 556 feet that includes a base structure featuring 3,183 square feet of ground-floor retail space.
