Proposed 42-Story Development will feature 902 Rental Units, a Public Park, and a Neighborhood Community Center

HAP Investments, a New York-based real estate investment and development company, has announced new plans for its proposed luxury rental development at 500 Summit Avenue in the Journal Square neighborhood of Jersey City.

Located near the Journal Square PATH station with easy access to Manhattan, the planned 42-story building will feature 902 residential units along with an almost one-acre public park, retail stores, and an 8,500-square-foot community center.

“We look forward to continue working with the City of Jersey City and local community board to finalize our plans for 500 Summit Avenue,” said Eran Polack, CEO-NY & Co-Founder of HAP Investments.

Designs for the park include an open-air terrace with seating, a playground, pedestrian footpaths, and a dog run. The community center includes a large glass façade, with flexible spaces for art, culture, classes, and meetings.

HAP Investments will also provide $500,000 towards new plantings and public amenities in the nearby Hilltop section, as well as designate parking spaces for visitors to the community center and the Hilltop Neighborhood Association.

“Our goal is to create a destination that serves not only the residents of 500 Summit Avenue, but the entire neighborhood as well,” Eran Polack stated.

ABOUT HAP INVESTMENTS

HAP Investments is a New York City based real estate investment group that specializes in the development of residential and commercial properties. HAP works with private investors to create profitable investment opportunities that have a strong prospect for long term upside profits. Formed by longtime Partners and entrepreneurs Eran Polack, Amir Hasid and Nir Amsel, the HAP team brings together a skilled group of businesspeople with broad experience in the global real estate markets, property development, real estate finance and law. For more information, visit www.hap-ny.com.