Exchange Place Alliance elects 3 to its board

Three new board members have been elected to the Exchange Place Alliance, according to a Monday announcement.

Joe Panepinto, Abe Naperstek and David Elkouby are ready to join the existing members of Jersey City’s not-for-profit organization established to preserve and advance Exchange Place.

Panepinto, Naparstek and Elkouby succeed Steve Pozycki, Gus Milano and Ricardo Cardoso, who have served on the board since the group’s creation – and Ricardo Cardoso is stepping down.

“In Joe, Abe and David, we are excited to have their talent and advisement as we move to the next chapter of the alliance’s growth,” Elizabeth Cain, executive director of the Exchange Place Alliance, said. “Our plaza renovation will be complete, making the site one of Jersey City’s jewels. We have a record number of activities planned for this year, and new signage is coming shortly to the Hudson River Walkway, all to enhance the experience of residents, workers and visitors.”

“We spoke over the last several years with many qualified candidates who expressed interest in being on the board. We looked for candidates who have a deep love for Jersey City, service without compensation, and skill in either law, business, accounting or construction. In that pursuit, with Joe, Abe and David, we identified three extraordinary candidates who have come to us through conversations with the public, property owners and city officials,” Martin Schmid, manager of economic development for the Exchange Place Alliance, said.

Panepinto, founder of Panepinto Properties, is a large owner of real estate in New Jersey and Jersey City. Panepinto is noted for his charitable works and involvement in good government. He is a contributor and serves on the board of St. Peter’s University, contributed to St. Patrick’s, the Jersey City Medical Center and Liberty Science Center, among others. Panepinto has a vast amount of construction expertise, and is one of the original developers in the recent Jersey City renaissance.

Naparstek is a partner at G&S Investors, leading the redevelopment of Metro Plaza in the EPA district with an ambitious plan of 6 million square feet. Naparstek has past involvement in business improvement districts, including the MetroTech Business Improvement District, and others. He is passionate about Jersey City and the potential of the district and beyond.

Elkouby, founder of American Equity Partners, is the owner of 15 Exchange Place, which is currently undergoing a massive renovation. Since founding the company in 2000, Elkouby has purchased, managed and sold over $3 billion of residential and commercial assets. He has also developed over 2 million square feet of retail space and has been instrumental in the redevelopment of Exchange Place.