Yesterday, at a ribbon cutting for the City Hall Annex in Bergen-Lafayette, Jersey City Mayor Steven Fulop announced a second phase of the project that will see the area known as the Hub renamed "Jackson Square," according to a press release.

The mayor was joined by Sen. Sandra B. Cunningham, Assemblywoman Angela McKnight, and the Jersey City Council.

It was announced that the City Hall Annex will be joined by two new buildings that when done encompass Jackson Square and "a $68 million dollar investment in the area."

According to the city's press release, it's the largest public investment the city has seen in decades.

"Today is an important day for the future of this neighborhood and this city, and I am proud to announce the second phase of a project that will continue to bring life and investment back to the residents of Bergen-Lafayette," said Mayor Fulop.

"We are taking an active role in shaping the future of this square through this major investment, and we are confident in the ability for this complex to bring economic activity and opportunity to an area that deserves it. With community space, a parking deck, and dozens of city offices, the new Jackson Square will become a central location for municipal and community activity, and I am incredibly excited to continue making progress here."

The City Council will hear about plans for the additional buildings at their Wednesday meeting, according to the press release. If approved, the buildings could be completed in the next two years.

"I am so proud to stand here today to celebrate the opening of the City Hall Annex, and I am especially proud of the new name for the square, which represents two African-American brothers who came out of slavery and settled here. This is an area that we are proud to support, and we want the community to be proud to live here too," said Cunningham.