Core Insights - Harborside 8, a luxury high-rise development in Jersey City, has secured $306 million in senior non-recourse financing and $78 million in preferred equity for its construction [1][2] Financing Details - The financing includes a floating-rate senior loan arranged by JLL through Kennedy Wilson and preferred equity arranged through Affinius Capital [2] - The total financing amounts to $384 million, which will support the land purchase and vertical construction of the project [1] Project Overview - Harborside 8 will consist of 678 residential units, including studios, one-, two-, and three-bedroom apartments, with a total of 719,726 square feet of rentable space [4] - The development will also feature 8,578 square feet of retail space, 350 parking spaces with EV charging stations, and a redesigned 40,000 square foot public park [4] Location and Market Context - The project is strategically located at 242 Hudson St., providing easy access to Manhattan via a five-minute walk to the Exchange Place PATH station and Paulus Hook Ferry [2] - Jersey City's waterfront has undergone significant redevelopment, transforming the area into a successful mixed-use neighborhood, making it one of the most sought-after rental markets in the U.S. [3][7] Development Timeline - Construction is expected to commence in Q1 2026, with stabilization anticipated by Q1 2030 [9] Developer Background - Panepinto Properties and AJD Construction are the development partners, with a combined history of over 50,000 apartments built and significant experience in the Jersey City market [9][12]