Esen Launches Real Estate Development Platform in North America; Announces $1.5B+ Multi-Tower Project in Jersey City

New York, NY – July 23, 2025 – Qwoted Newswire – A team of real estate industry veterans have come together to form Esen, focusing on delivering high-impact mixed-use developments in major urban centers across North America. The team is largely comprised of former Brookfield Properties and Forest City executives who, in partnership with the Singapore-based Croesus Group, formed Esen. The firm is committed to working with leading global capital partners and forward-thinking design teams to shape the future of cities through transformational projects.

Esen leadership includes:

• Jim Chang serves as Chairman of the Board for Esen. He is also the Founder, Executive Chairman, and CEO of Singapore-based investment platforms The Croesus Group and Everglory Group, with diversified holdings across real estate, infrastructure, transportation, and financial asset management in Asia and the United States.
• Matt Elsesser serves Esen as Chief Executive Officer. He was the former US Head of Development for Logistics at Brookfield Properties, where he oversaw an active pipeline of over 15 million square feet of ground-up logistics development across North America. Prior to this role, Matt was President of Commercial Development at Brookfield Properties, in charge of all mixed-use projects across North America, and served as Chief Development Officer for Forest City.
• C. David Boillot serves Esen as the company’s Chief Investment Officer. Most recently, he served as Managing Director and CIO of Croesus and Company, where he oversaw the investment in and development of over 2,500 apartment units in addition to 1 million square feet of commercial development.
• Jason Bonnet serves Esen as Chief Development Officer. Jason was formerly the head of Commercial Development for the East Coast region for Brookfield Properties where he managed over $7 billion in project pipeline.

Additional key Esen partners include Kate Bicknell, Joginder Singh, Loren Morgan, Jeff Morrow, Shaw Henry, Mike May, Lori Sindelar, and Martha Gurule. This talented team has collectively delivered some of the country’s most successful mixed-use developments including Barclays Center (Brooklyn), Cornell Tech (Roosevelt Island), The Yards (Washington, D.C.), and Fifth + Broadway (Nashville).

Along with the announcement of its formation, Esen has revealed plans for a transformative large-scale mixed-use development in the heart of the Jersey City waterfront district. This $1.5B+ multi-phase project, in partnership with global shipping and transportation conglomerate, Evergreen, marks the beginning of Esen’s bold vision to deliver impactful, innovative, and community-focused urban developments.

The project will consist of three multi-family towers totaling approximately 2,000 units, ranging from studios to spacious three-bedroom residences. Construction on Tower 1 is anticipated to begin in summer 2026, with the building expected to open in early 2029. Towers 2 and 3 will follow in subsequent phases.

Designed with a focus on livability and connectivity, at full delivery, this development will include over 30,000 square feet of publicly accessible open space. This space will feature a pedestrian-only corridor linking Washington Street and Greene Street and a central courtyard and plaza adjacent to Harborside Park.

The project benefits from spectacular, unobstructed views of Manhattan and the Statue of Liberty. It sits steps away from a Whole Foods Market and Grove Street’s thriving retail corridor. The development is also conveniently located between the Grove Street and Exchange Place PATH stations, offering seamless access to Midtown Manhattan and the Financial District.

“This project embodies the scale, ambition, and collaborative spirit that define Esen,” said Matt Elsesser, Chief Executive Officer at Esen. “We’re proud to be launching with a development project of this magnitude in partnership with a world-class organization like Evergreen, and to continue our legacy of delivering exceptional urban developments that bring lasting value to cities and communities.”

For more information on Esen Development, visit EsenDev.com.