A concrete superstructure sat a few floors above street level at 2966 John F. Kennedy Boulevard for most of two years. In June 2026, Integritas Capital and Kriss Capital closed $220 million in construction financing and the cranes went back to work. Imperial Tower is now headed for 56 stories and 637 feet, which would put it among the tallest buildings in New Jersey.
Project Scope
The pause wasn’t distress. The developers stopped a project already approved at 35 stories and 362 feet in order to chase a bigger one, and got it: 20 additional residential floors, two more hotel floors and four more parking levels. The upzoning came through the affordable-housing provisions of the Journal Square 2060 Redevelopment Plan as amended in 2024, and 57 of the 542 rental units are deed-restricted affordable. The finished stack is unusual for a U.S. residential tower. Above 827,867 total square feet you get 542 apartments, a 154-key Fairfield by Marriott, 34,105 square feet of retail, a 202-car enclosed garage, and a full banquet hall built to serve Journal Square’s large South Asian community. MVMK Architecture designed it. Noble Construction is building it. The Jersey City Planning Board approved the revised 56-story scheme after review in May 2025.
Why It Matters
Kumar and Myneni are local Journal Square operators, not an institutional sponsor, and $220 million is the largest financing they’ve closed. That’s the part of this deal worth studying. Debt funds took a project that a bank had no interest in refinancing, sized it against a scheme that was 60 percent taller than the one already under construction, and funded it. Journal Square sits on top of a PATH hub with a fifteen-minute ride to Midtown, and the density bonus the city attached to affordable units is what made the math work for both sides.
The banquet hall is not an afterthought. Ground-floor programming aimed at a specific neighborhood rather than a generic amenity package is rare in towers this size, and it’s the kind of thing that determines whether a building belongs to the block it’s on.
Project Team & Details
| Developer | Kuldeep "Sunny" Kumar and Mohan Myneni |
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| Owner / Client | Kuldeep "Sunny" Kumar and Mohan Myneni |
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| Architect | MVMK Architecture |
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| Consultants | Integritas Capital (Construction Lender)
Kriss Capital (Construction Lender)
Connell Foley (Land Use Counsel) |
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| General Contractor | Noble Construction |
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| Status | Under Construction |
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| Funding Source | Private |
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