BlueGate Partners secures $150M construction financing for Devan in Jersey City 

BlueGate Partners on Wednesday said it helped worked on behalf of Ursa Development Group and Fields Grade Development to secure $150 million in senior construction financing for the Devan in Jersey City.

Located at 3 New York Ave., along the Jersey City/Hoboken border, the 336-unit, Class A transit-oriented multifamily development will offer studio, one-, two- and three-bedroom units ranging from approximately 600 square feet to 1,500 square feet.

The resident experience is further enhanced by ground-floor interior parking, bicycle parking, package and concierge service, an exterior terrace with sundeck and resort-style swimming pool, grilling stations, work-from-home business center, fitness center, games lounge, kids’ playroom, rooftop pet play area and dog wash, plus more.

The property is conveniently located with easy access to the Hudson-Bergen Light Rail
stop as well as New Jersey Transit and PATH stations, allowing residents an easy commute to the major employment centers throughout the New York City metro area.

Additionally, residents will enjoy the short walk to Hoboken’s popular Washington Street, which is lined with multiple shopping, dining and nightlife options.

Construction is currently underway and is expected to be completed in 2024.