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Strategic Capital and Plaza Construction Commemorate ‘Topping Out’ At One Grove Street in Jersey City

Ceremony Marks Key Milestone with The Completion of Vertical Concrete Erection

NEW YORK, July 27, 2022--(BUSINESS WIRE)--Strategic Capital, a leading real estate investment and development platform, and Plaza Construction, one of the nation’s foremost construction management and general contracting firms, commemorated today the completion of vertical structural elements at One Grove Street in Jersey City.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220727005884/en/

One Grove Lobby Entrance (Photo: Business Wire)

Strategic Capital is developing the project as a fee-based developer for an offshore private equity investor. It is the manifestation of Strategic Capital branching out to third party development business afforded by its unique turn-key development services to real estate owners and investors.

Located in Jersey City’s Liberty Harbor neighborhood, a name suitable for its proximity to (and visibility of) the Statue of Liberty in New York Harbor, One Grove is situated at the south end of the City’s vibrant Grove Street corridor, the premier retail and dining destination in the downtown area. Thoughtfully designed to address current and future trends, including environmentally sustainable features, post-Covid space needs and carefully curated interior design and amenities, One Grove is a 12-story LEED-certified building with 200 residential units scheduled for completion in the second half of 2023.

"We are extremely proud and thankful for all the hard work and effort that everyone involved has contributed to reach this major milestone in the project," said David Brown, Deputy Managing Director of Strategic Capital "Our partners at Plaza Construction are known for their strong work ethic and a widely diverse skill set which enabled us to operate effectively and meet this important deadline."

Residents of One Grove will enjoy an interior design aesthetic that combines natural inspirations and a neutral palette, with an acknowledgement of the beauty in the imperfection of natural materials. Raw textures, earthy hues and organic, natural materials are beautifully integrated with beige, cream, black, taupe and grey color palates. Ceramic, wood and stone textures align to provide an authentic materiality. The goal is to create an atmosphere of serenity with an uncluttered sense of comfort, beauty, and enveloping luxury. Amenities include luxury bespoke finishes, smart home features, private balconies, outdoor landscaped rooftop terrace, lounge and private dining room, gym, coworking space, bike room and parking garage with shared transportation options, and ground floor retail and parking.

"Plaza is proud to partner with this terrific development group for this exciting project and to further enhance our robust New Jersey operation," said Thomas D’Ercole, Executive Vice President, Regional Director of Plaza Construction.

About Strategic Capital

Strategic Capital is the real estate investment and development platform of China Construction America (CCA,) a subsidiary of China State Construction Engineering Corp. Ltd. (CSCEC,) one of the world’s largest investment and construction groups listed on Shanghai Stock Exchange. CSCEC was ranked 13th among Fortune Global 500 companies and has been No. 1 on ENR’s Global Contractors list for six years in a row. Strategic Capital develops, owns, and operates mixed types of properties in New York, New Jersey and Texas. Targeting growing markets with high barriers to entry and limited supply, its current portfolio features best-in-class commercial and residential assets across the risk spectrum from opportunistic to core.

CCA is headquartered in Jersey City, NJ, and operates mainly in the US East Coast and Gulf Coast states, the Caribbean and Latin American countries. CCA owns four business divisions covering building construction, infrastructure, and real estate development. It acquired one of New York City's most prominent builders, Plaza Construction, from the Fisher family in 2014. As an accomplished contractor and real estate developer, CCA stays laser-focused on achieving operational and managerial excellence since its inception.

Although Strategic Capital is a part of the massive China Construction group, it envisions itself as a boutique developer that operates nimbly and locally to maximize efficiency and focuses on product development with elaborate attention to detail. Strategic Capital is recognized by its unique integrated development management model featured by visionary program development, outstanding financing capabilities, superior quality of construction, proactive scheduling and cost control, and hands-on asset management experience.

About Plaza Construction:

Plaza Construction is one of the nation’s foremost construction management and general contracting firms. Since the company was formed in 1986, it has become a multi-faceted firm with national presence in the industry with headquarters in New York, and regional offices in Los Angeles, San Jose, New Jersey, and Washington DC.

Plaza’s roots are based in construction, real estate, investment, and development management. Its experience includes work across various industries and its uniqueness comes from understanding what it is to be the owner, the developer and the builder – a trifecta that is evident in Plaza’s core portfolio of prestigious hospitality, commercial, corporate, and residential properties.

As an industry leader in sustainability, Plaza has executed over $4 billion of LEED certified projects. At the forefront of the ever-changing construction industry, Plaza is constantly exploring and developing new technologies and methods. Innovation and creativity enables Plaza to translate a client’s concept into reality, while keeping a solid focus on the task at hand.

Additional details: https://www.chinaconstruction.us/tag/strategic-capital/

View source version on businesswire.com: https://www.businesswire.com/news/home/20220727005884/en/

Contacts

Darren Bettencourt, Media Liaison, darren@bettencourtcreative.com, 310-270-6483