Posted Jan 6, 2015, 1:08 PM
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New Yorker for life
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Join Date: Jul 2001
Location: Borough of Jersey
Posts: 51,900
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Hopefully this gets undeway this time. Journal Square has excellent transportation, and can support the density.
http://nypost.com/2015/01/06/develop...n-jersey-city/
Developer Jared Kushner puts stake in Jersey City
Developer Jared Kushner and wife Ivanka Trump.
By Jennifer Gould Keil
January 6, 2015
Quote:
Jersey City is getting Kushner-fied.
Developer Jared Kushner has bought One Journal Square in the New Jersey city across the river from Manhattan with the expectation, a source close to Kushner said, that it will become a focus of Big Apple residents priced out of the five boroughs.
“We are very focused on Jersey City,” said a source close to the deal. “A big arts culture is growing in Jersey City.”
The Kushner Cos. will be applying for massive city and state subsidies to build its dream complex.
Kushner envisions two towers, with at least 1,500 to 1,700 new rental units and 150,000 square feet of cutting-edge retail space with “style and personality” that will include a supermarket, specialty coffee shops and restaurants.
Kushner partnered with KABR Group to buy the property for $27 million. They are also developing 30 Journal Square, a 40-story residential development across the street, and 65 Bay St. Downtown, a 50-story $194 million luxury residential building.
Meanwhile, Kushner’s first cousin, Jonathan Kushner, president of KRE Group, is building Journal Squared, a three-tower project in the neighborhood with 1,800 units and 36,000 square feet of retail space.
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