SDG has been working with Saint Peter’s University for the past seven years to create Saint Peter’s Tower at McGinley Square. This 24-story tower located in a neighborhood in need of redevelopment on Montgomery Street, one block east of Bergen Avenue, will comprise 50,000 s.f. of retail space, including a supermarket, bank, shops and restaurants, two of which will be located in the penthouse with panoramic views of New York City stretching from the Verrazano-Narrows Bridge to the George Washington Bridge. The project will also include approximately 450 rental apartments, a 350-bed student residence hall, and a 400-car parking garage.
Saint Peter’s Tower has emerged as the catalyst spurring the transformation of the declining McGinley Square community. In spring 2017, a large national Florida-based developer will break ground on a 17-story mixed-use tower at 711 Montgomery Street, across the street from the proposed Saint Peter’s Tower. One block north, a Brooklyn-based developer has acquired several tracts, with plans to build another tower.
In concert with the Saint Peter’s Tower project, SDG spearheaded the creation of McGinley Square Park, a three-quarter acre public park to be located at the intersection of Montgomery Street and Bergen Avenue, directly on the historic site of McGinley Square. The park will feature a lawn, band shell for concerts, structures to support a farmer’s market, a contemplation area, a large fountain, and for the winter months, an ice skating rink and large-scale Christmas Tree, both reminiscent of Rockefeller Plaza.
This innovative development will help Saint Peter’s to attract the best and brightest students by accommodating more residential students and will generate parking revenue for the University, create new ratables for Jersey City and drive development of the McGinley Square area.