THE LUCY, A NEW LUXURY RESIDENTIAL TOWER, TOPS OUT IN JERSEY CITY

JERSEY CITY, NJ (October 21, 2026) — SJP Properties, in partnership with Claremont Development and Battery Global Advisors, today announced that The Lucy, a new luxury residential tower, has topped out. Located at 619 Grove Street in Jersey City, the residential community includes 444 apartments and a full suite of amenities. The design preserves and restores historically significant portions of the site’s original St. Lucy’s Roman Catholic Church, rectory, and school, seamlessly integrating them into a modern residential landmark while adding a 24-story glass tower. Construction on The Lucy is expected to be complete in 2028.

The Lucy is being developed jointly by SJP Properties, Claremont Development and Battery Global Advisors, with equity partner PCCP. The building was designed by Michael Graves Architecture with interiors by Mary Cook Associates. Construction is being led by KL Masters Construction Company.

“We believe The Lucy will deliver a distinctive residential experience to Jersey City and with the building now topped out, we are one step closer to opening the doors,” said Steven J. Pozycki, Founder and CEO of SJP Properties. “This development seamlessly blends luxury living with the character of St. Lucy’s historic structure. By preserving its legacy and introducing exceptional new homes and amenities, The Lucy is expected to serve Jersey City as it continues to grow.”

“PCCP is excited to deliver new construction multifamily rental housing while honoring the architecture of the St. Lucy’s Church and the history of the neighborhood. We look forward to welcoming residents upon opening,” said PJ Finley, a Vice President with PCCP.

“The Lucy promises to be at the forefront of Jersey City’s residential offerings,” said Richard Sciaretta, Partner of Claremont Development. “Enshrining the legacy of St. Lucy’s historic structure was a priority for the development team, and we are proud to honor that while delivering hundreds of state-of-the-art apartments to one of the most dynamic housing markets in the region.”

The Lucy pairs luxury living with the architectural grandeur of the original St. Lucy’s historic structure. The tower includes 431 market-rate residences alongside an expansive collection of amenities. Each home will feature quartz countertops, premium fixtures, solar shades and top-brand appliances. Indoor amenities include a resort-style lobby, state-of-the-art fitness center, dog grooming room, media and game room, multiple lounges with fireplaces, and dedicated coworking and conference rooms.

The Lucy features stunning views of the city skyline and outdoor offerings include a rooftop pool, sky lounge, sundeck with BBQs and a penthouse bar. Bespoke amenity spaces such as a bell-tower speakeasy and hydroponic garden will also be available to residents. In addition, the building will feature a coffee bar, grab and go market, bicycle storage and shuttle service to the PATH.

The project required extensive and meticulous preservation work, which began in September 2025. The Lucy retains and restores portions of the original structure which closed in 1985. The new 24-story structure rises above the facades of the early 1900s brick and brownstone masonry and stained-glass windows are incorporated into the lobby. Other components of the original site that are being preserved include the church doors, which will continue to serve as the main entrance, the iron fence, the tower bell and the facade of two historical walls.

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About SJP Properties
SJP Properties is a privately owned, fully integrated real estate developer, investor and operator with more than 40 years of experience. The firm specializes in the development and operation of Class-A office buildings, residential properties, and mixed-use projects, including life science and GMP laboratory facilities. With a portfolio exceeding 25 million square feet and a focus on the New York/New Jersey metropolitan area and select Southeast markets, SJP Properties is known for its disciplined, relationship-driven approach and deep expertise across all phases of the development process.

About Claremont Development
Claremont Development is a New Jersey-based real estate development firm specializing in ground-up multifamily, industrial, and self-storage projects. With deep in-house expertise and strong strategic partnerships, Claremont manages all aspects of the development lifecycle—including acquisition, entitlements, design, financing, and construction—to minimize risk and maximize returns. Since its formation in January 2019 following a spin-off from Claremont Construction (est. 1954), the firm has led over $2.0 billion in development projects. For more information, visit claredev.com.

About PCCP
PCCP is a real estate finance and investment management firm focused on commercial real estate debt and equity investments. PCCP has approximately $30.1 billion in assets under management on behalf of institutional investors as of June 30, 2026. With offices in New York, San Francisco, Los Angeles, Atlanta, and Seoul, PCCP has a 28-year track record of providing real estate owners and investors with a broad range of funding options to meet capital requirements. PCCP underwrites the entire capital stack to exploit inefficiencies in the market and provide investors with attractive risk-adjusted returns. Since its inception in 1998, PCCP has managed, raised or invested over $50.4 billion of capital through a series of investment vehicles including private equity funds, separate accounts and joint ventures. PCCP continues to seek investment opportunities with experienced operators seeking fast and reliable capital. Learn more about PCCP at www.pccpllc.com.