Alpine Residential Finishes 500-Unit AVIVA Project in Jersey City

Alpine Residential, a New York-based developer, has completed AVIVA, a 500-unit multifamily project in Jersey City, New Jersey. The project, formerly known as Scholars Village, was designed by GRT Architects and Ismael Leyva Architects.

The development consists of two 12-story buildings joined by a lobby base that includes 4,000 square feet of ground-floor retail space. Residences range from studios to three-bedroom layouts. Amenities include a fitness center, demonstration kitchen, coworking space, children's playroom, a pet salon and 24-hour concierge service.

Leasing launched toward the end of summer, with studio rents starting in the $2,200s per month. Grand opening incentives offered up to four months free on a 23-month lease.

Bank OZK provided construction financing for the project.

For developers and lenders, the completion adds a large rental supply to the Jersey City market and illustrates how a lender-backed, mixed-use multifamily project can move from construction to lease-up.