BLT/Metrovest celebrate opening of The Paramount, a 231-unit rental building

Mayor Steven Fulop and fellow Jersey City officials joined the development partnership of Building and Land Technology (BLT) and Metrovest on May 28th to cut a ceremonial ribbon on The Paramount, one of the region's most unique and architecturally-significant residential properties. The ribbon cutting marked the official grand opening of The Paramount, a 23-story, 231-unit rental building located within The Beacon, a collection of 10 1930s-era buildings that are being restored and transformed into residential properties. "This is one of the most significant restoration projects in the entire country," Fulop said. "When you look at the historic structures here at The Beacon as a whole, they are magnificent, and when it was added to the Historic Register, it put limitations on what changes could be made to the buildings. It was important to both the BLT family and Jersey City to keep the aesthetics clean, pristine, and symbolic of our past, but at the same time recognize the city's future. And that is exactly what we have here." The Paramount is already proving to be a hit with renters. Although May 28th was the official Grand Opening ceremony, the building opened to the public three months beforehand and is already nearly 50 percent leased.