Jersey City Celebrates Milestone in Transformation of West Side Neighborhood with Ribbon Cutting for RIVET at University Place

Executives from The Hampshire Companies, Claremont Companies, and Circle Squared Alternative Investments joined New Jersey City University (NJCU) President Sue Henderson, Jersey City Mayor Steven Fulop, and other dignitaries on August 22 to celebrate the ribbon cutting for RIVET, Jersey City’s newest luxury apartment development at 23 University Boulevard.

Featuring 163 modern residential units, RIVET is a key component in the first phase of a mixed-use master plan to transform Jersey City’s west side neighborhood. Developed in conjunction with NJCU and Jersey City, University Place is a master redevelopment plan which will total eight buildings, 1,000 new luxury residential units and access to more than 120,000 square feet of retail, a vibrant performing arts center, cafes, theaters, and lush green space.

NJCU President Sue Henderson said, “Today, we cut the ribbon for RIVET, the first apartment building to open at University Place, and celebrate the progress that is being made in this bold redevelopment project. The public-private partnership that drives this project is a game-changer. It is transformative for both NJCU and our local community. University Place is a prime example of a win-win solution made possible through collaborative efforts involving the New Jersey Legislature, local government, the University, and the business community.”

“The University Place project marks the next chapter in Jersey City’s remarkable story and we are honored to be a part of that story with the opening of RIVET,” said Jon F. Hanson, Founder and Chairman of The Hampshire Companies. “This project serves as an important milestone in the transformation of the City’s west end. We would like to thank President Henderson and Mayor Fulop for their vision, support and assistance in bringing this redevelopment plan to life and we are looking forward to continuing to work together to create a vibrant neighborhood within this great City.”

Developed by The Hampshire Companies and Claremont Companies, tenants at RIVET can experience the best in urban living and all that Jersey City has to offer starting at $1,600 a month.  Units range from 550 square feet to 1,300 square feet offering 27 studio apartments, 112 one-bedroom, and 24 two-bedroom units. 

RIVET features technology enhanced amenities and premier accessibility to shopping, dining and entertainment making it a distinctive destination in one of Hudson County’s hottest emerging neighborhoods. Technology enhanced amenities and social spaces include a cyber café with WiFi access, Butterfly MX virtual entry and package delivery system, an activated 15,000-square-foot courtyard with a sundeck, lounge seating, gaming areas, grilling stations, and movie screenings, an indoor lounge with courtyard connectivity, a dedicated pet washing space, and a light-filled fitness center with Fitness On Demand and yoga studio.

“Through RIVET we aimed to deliver a Jersey City waterfront luxury building experience at a much more affordable price point,” added Richard Sciaretta, Director for Claremont Companies. “The finished product clearly represents the fulfillment of this goal and we are proud to help deliver a building that will be in high demand for years to come.”

RIVET will feature 10,000 square feet of retail space enhancing its walkability to everyday conveniences.  The site is located one-third of a mile from a Bergen Hudson Light Rail stop, providing access to the Hackensack River Waterfront and Hoboken as well as the opportunity to transfer to the PATH train for easy access to New York City. 177 structured parking spaces, two bike terminals and street parking provide additional ease for commuters.