Jones Lang LaSalle

Journal Square towers closer to reality

The highly-anticipated 40-story, two-tower development planned for Jersey City’s Journal Square has taken another step forward, as City Council members voted to permit residential housing on the block next to the PATH Transportation Center.

"Progress has been made on the waterfront. Now it’s reaching Journal Square," City Council President Mariano Vega said Wednesday night, capping off the unanimous vote.

Lowell Harwood, managing partner of Harwood Properties, the builder, praised city officials for taking action, noting he’s 90 percent pleased with the pace of the project.

"I never give anything I’m doing a perfect grade," joked Harwood, who signed a deal in February to purchase 80 percent of the properties on the block, including the old Hotel on the Square building, which is now demolished.

Besides the properties he’s under contract to buy, Harwood has to purchase three other buildings on the block before he can build: 15-16 Journal Square, which houses McDonald’s and Songs Hallmark, and 12 and 14 Journal Square, home to a Kentucky Fried Chicken and formerly a Wendy’s.

Harwood has been negotiating with the owners but has not reached an agreement. If he can’t strike a deal, his contract with the Jersey City Redevelopment Agency calls for the city to step in and take the properties through eminent domain.

The owners — who couldn’t be reached to comment — would have to be paid fair market value and Harwood would be on the hook to reimburse the city for all expenses.