Integritas Capital and Kriss Capital have jointly provided $220 million in construction financing for Imperial Tower, a large-scale mixed-use development planned for 2966 John F. Kennedy Blvd. in Jersey City’s Journal Square neighborhood. The capital will back one of the largest ground-up projects currently moving forward in the submarket, supporting the vertical development and delivery of a new 56-story tower.
The planned Imperial Tower will encompass approximately 827,867 square feet of mixed-use space. The program includes a substantial multifamily component, a branded hospitality offering, and a significant allocation of street-level retail, positioning the project as a major new addition to the Journal Square skyline and streetscape.
Upon completion, Imperial Tower is slated to feature 542 residential units, expanding the housing supply in an area noted in the transaction announcement as experiencing growing demand. The project will also include a 154-key Marriott-flagged hotel, adding new hospitality capacity under a recognized international brand, as well as roughly 34,105 square feet of ground-floor retail space intended to activate the surrounding pedestrian environment.
The development is being led by Kuldeep “Sunny” Kumar and Mohan Myneni, who are identified as the project’s developers. Noble Construction has been selected as the general contractor, reflecting its role in overseeing the construction process, while MVMK Architecture is serving as the architect of record, responsible for the project’s architectural design and documentation.
Commenting on the financing, Stephen Palmese, managing principal at Integritas Capital, described Imperial Tower as a thoughtfully planned mixed-use project in a premier transit-oriented location that addresses rising demand for both housing and hospitality in one of the region’s more dynamic neighborhoods. Palmese noted that Integritas Capital’s background as developers, together with the construction expertise within its vertically integrated platform, informs how the firm evaluates complex projects relative to more traditional lending institutions.
The combination of large-scale residential, hotel, and retail components, backed by a sizable construction loan, underscores the continued flow of capital into transit-oriented mixed-use development in Jersey City’s Journal Square district. With key development, design, and construction teams in place and financing secured, Imperial Tower is positioned to proceed as a defining ground-up project within the neighborhood.
