A significant transformation is on the horizon for Downtown Jersey City. A surface parking lot located at 142 Steuben Street (also known as 310 Washington Street), nestled between Evertrust Plaza and Harborside 5, is set to become the site of a $1.5 billion mixed-use development that will bridge the Powerhouse Arts District and Exchange Place.
The ambitious project comes from Esen, a newly launched real estate firm based in New York. Comprised of industry veterans from Brookfield Properties and Forest City Realty, Esen has partnered with the Singapore-based Croesus Group to bring a bold new vision to Jersey City.
The development plans include three striking high-rises totaling 2,055 residential units across multiple phases. A recent application filed with the city outlines a proposal to subdivide the property into three distinct lots to accommodate the project’s scope.
🚀Phase One: A Tower Rises
The first phase is poised to break ground at the corner of Greene and Pearl Streets and will feature a 52-story tower reaching nearly 584 feet in height. This initial tower will include 625 market-rate rental units, 155 parking spaces, resident amenities, and a leasing office. An interim 145-space surface parking lot will remain on-site to support Evertrust Plaza during construction.
🚀Phases Two and Three: Elevating the Skyline
The second phase envisions a 50-story tower with 817 market-rate apartments, 205 parking spaces, and approximately 3,165 square feet of ground-floor retail.
The final phase will deliver the tallest tower of the trio—57 stories and just under 650 feet high—anchoring the corner of Washington and Pearl Streets. This building will house 613 market-rate apartments, 1,375 square feet of retail, and nearly 100,000 square feet of office space. It will also introduce 321 parking spaces and a generous 30,000 square feet of public open space, including a pedestrian corridor between Washington and Greene Streets, a central courtyard, and a plaza adjacent to Harborside Park.
🔨Next Steps
While official renderings are still under wraps, the site plan submission suggests that Esen is moving swiftly. The project is currently under review by Jersey City’s Planning Board, with approvals still pending. It’s not yet clear whether zoning variances will be required.
Esen projects that construction on the first tower will begin in summer 2026, with completion anticipated in 2029.
