New Jersey’s real estate landscape is poised for dramatic growth in 2026, with several high-profile housing and mixed-use developments reaching completion or making significant progress. From Jersey City’s towering skyline to historic restorations in Paterson and transformative projects in Parsippany, these developments are reshaping neighborhoods and expanding opportunities for residents and businesses alike.
In Jersey City, the One Journal Square project continues to redefine the urban skyline. This twin-tower development, each rising 64 stories above the Journal Square PATH station, will bring 1,723 new apartments to the area. Beyond residential units, the project incorporates over 50,000 square feet of amenity and retail space at street level, designed to create a dynamic environment for residents and visitors. Construction has moved rapidly, with the first tower welcoming residents in mid-2025. The second tower is slated for completion later in 2026, promising to solidify Jersey City’s position as one of the region’s premier urban hubs. Analysts note that the scale and design of One Journal Square exemplify a broader trend in New Jersey of integrating high-rise living with accessible retail and public spaces, enhancing both lifestyle and economic activity.
Jersey City: One Journal Square – The significant One Journal Square twin-tower development in Jersey City is progressing, with full project completion anticipated later in 2026.
- Details: The project consists of two 64-story towers rising above the Journal Square PATH station, bringing 1,723 new apartments to the neighborhood. The development also includes over 50,000 square feet of amenity space and retail space at street level.
- Status: Construction has been rapid. The first tower opened its doors to residents in mid-2025, and the final tower is on track for completion this year.
Meanwhile, in Parsippany-Troy Hills, 500 PARQ is set to transform the former Morris Corporate Center into a vibrant, mixed-use community. Planned to include more than 1,100 residential units alongside retail and potential office spaces, the project represents one of Morris County’s most ambitious redevelopment efforts in recent years. While construction is still in earlier stages, ongoing approvals and preliminary site work signal a strong commitment to creating a modern, interconnected neighborhood. The development aims to attract young professionals, families, and businesses, creating a hub that merges residential comfort with commercial vitality. As construction advances, 500 PARQ is expected to become a benchmark for large-scale, community-focused redevelopment in suburban New Jersey.
Parsippany: 500 PARQ – A large-scale mixed-use development called 500 PARQ is planned for Parsippany-Troy Hills, poised to add a significant number of new homes to the area.
- Details: The project, located at the site of the former Morris Corporate Center, is planned to include over 1,100 residential units as well as retail and potential office spaces. It represents a substantial redevelopment effort aimed at creating a new, vibrant community hub in Morris County.
- Status: This project is in earlier stages of development compared to others; final approvals and significant construction are ongoing throughout 2026.
Paterson is also seeing transformative change through the Paterson Armory Luxury Apartments, a historic restoration project converting the iconic armory into 160 modern, high-end apartments. This redevelopment preserves the character of the landmark structure while injecting new life into the surrounding community. Scheduled for completion in the first quarter of 2026, the project exemplifies a growing focus on adaptive reuse in New Jersey, combining historic preservation with contemporary urban living. City officials and local advocates view the project as a catalyst for continued revitalization, encouraging investment and economic activity in downtown Paterson.
Paterson: Paterson Armory Luxury Apartments – The historic Paterson Armory building is being revitalized into modern, luxury apartment housing, with completion expected in early 2026.
- Details: The redevelopment preserves the iconic structure while creating approximately 160 new apartments. The project is a key component of Paterson’s ongoing revitalization efforts in the surrounding area.
- Status: The project is in its final construction phase and is slated to open for residents within the first quarter of 2026.
Across the state, these projects reflect a broader wave of growth in both urban and suburban areas. Developers are increasingly emphasizing integrated communities with residential, commercial, and amenity spaces, responding to demand for walkable, connected neighborhoods. The combination of high-rise towers, mixed-use redevelopment, and historic preservation illustrates how New Jersey is balancing growth with cultural and economic sustainability.
For residents and investors, the 2026 pipeline represents more than just new housing—it signifies opportunity. Jersey City’s skyline expansion, Parsippany’s community redevelopment, and Paterson’s adaptive reuse projects collectively demonstrate the state’s ability to accommodate population growth, enhance economic vibrancy, and modernize infrastructure while honoring its architectural heritage. As construction continues throughout the year, these projects are set to redefine New Jersey’s real estate landscape and establish a blueprint for future development initiatives.
Demolition Clears the Way for Major Mixed-Use Development at Former Golden Cicada Site in Jersey City. The long-anticipated transformation of one of Jersey City’s most storied corners has officially begun, as demolition is now complete at the former Golden Cicada property along Grand Street, signaling the next phase of a major mixed-use redevelopment in the Paulus Hook area.
Construction equipment has moved onto the cleared site at and around 195 Grand Street, where the Golden Cicada once stood as a neighborhood fixture for nearly four decades. Known citywide for its late-night crowds and signature baijiu shots, the bar’s closure marked the end of an era, but its footprint is now poised to become part of a substantially larger project that blends residential towers, commercial space, educational facilities, and affordable housing.
Demolition activity began shortly after the start of the new year across several adjoining parcels near 177 Grand Street, adjacent to the St. Peter’s Preparatory School athletic complex. The irregularly shaped, Z-configuration property incorporates multiple lots that Silverman, a prominent local developer, has quietly assembled over several years. Silverman first pursued redevelopment of nearby holdings as early as 2017 and moved swiftly to acquire the Golden Cicada site in 2019 when it became available. The property briefly housed a reimagined version of the bar before the city approved a sweeping redevelopment plan in 2023.
The project, designed by Fogarty Finger Architecture, has been conceived to balance density with contextual sensitivity. Along Grand Street, the development features a three-story base intended to align with the scale of surrounding buildings. Rising above that podium will be two setback residential towers, reaching 29 and 19 stories respectively, creating a graduated skyline that attempts to soften the transition between lower-scale blocks and taller waterfront structures nearby.
In total, the development will deliver 397 residential units, offering a wide range of layouts aimed at attracting a diverse mix of residents. Plans call for 27 studios, 187 one-bedroom apartments, 137 two-bedroom units, 15 three-bedroom residences, and 31 four-bedroom homes, a notable inclusion in a market often dominated by smaller floor plans. Sixty of those apartments, roughly 15 percent of the total, are designated as affordable housing for very low-, low-, and moderate-income households, adding a meaningful affordability component to an area where housing costs have steadily climbed.
Street-level activity is expected to play a central role in the project’s integration with the neighborhood. Approximately 11,676 square feet of commercial space will be divided between two retail storefronts. A larger, roughly 9,000-square-foot space will front Marin Boulevard on the western end of the site, occupying the location where the Golden Cicada once operated. A second, smaller retail unit will be situated along Sussex Street, helping to activate multiple frontages and extend pedestrian engagement beyond a single corridor.
In addition to retail, the ground floor will include a 7,500-square-foot educational facility slated to serve as an expansion annex for the Church of Our Lady of Czestochowa, a private school located directly across the street. The inclusion of school space within a private development reflects a growing trend in urban planning, where residential projects increasingly incorporate civic and community-oriented uses.
The building’s infrastructure has been designed with modern urban demands in mind. An internal parking garage will provide 77 vehicle spaces, supplemented by 219 dedicated bicycle spots to encourage alternative transportation. Stormwater management systems, including on-site storage infrastructure located on the second floor, are intended to mitigate flooding risks and reduce strain on city systems during heavy rainfall events.
Amenities for residents will be concentrated atop the podium, combining indoor and outdoor spaces designed for year-round use. Both towers are planned to include true rooftop terraces, with the shorter, 18-story tower featuring an outdoor swimming pool. The exterior design leans heavily on beige brick, white porcelain cladding, and expansive curtain wall elements, giving the project a contemporary aesthetic while maintaining material continuity across its massing.
Despite vocal opposition from some neighborhood groups concerned about scale, density, and traffic, the project received a 30-year tax abatement approval from the Jersey City Council last October. City officials framed the decision as a tool to support long-term investment, affordable housing delivery, and the inclusion of educational space, while critics questioned the fiscal trade-offs.
While Silverman has not yet announced a formal construction timeline, the fully cleared site suggests that groundbreaking may not be far off. After nearly a decade of planning, land assembly, and public review, the former Golden Cicada site is now transitioning from memory to momentum, reflecting broader shifts in Jersey City’s evolving real estate landscape and underscoring the city’s continued push toward high-density, mixed-use development along its historic streets.
For updates on ongoing projects and broader coverage of real estate trends in the Garden State, explore the latest construction developments shaping communities and neighborhoods across New Jersey.
