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No tax break for Kushner towers, Fulop saysBy JERSEY CITY -- A long-term city tax break sought by a company with ties to Jared Kushner, son-in-law and adviser to President Trump, will not be supported by the city, Mayor Steve Fulop announced this weekend. Fulop, who made the announcement on his social media accounts yesterday, said the request for a tax abatement for the twin-tower One Journal Square project "doesn't work for us." The developers are a partnership of Kushner Companies, once headed by Kushner; KABR Group; and WeWork. http://www.nj.com/hudson/index.ssf/20 ... er_towers_fulop_says.html
Posted on: 2017/5/8 16:57
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Re: Kushner family in Beijing: 'Invest $500,000 and immigrate' to US
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USCIS falls under the president's purview as he appoints the head of DHS. All other things behind equal, if a foreign investor has the choice between investing in a Kushner project or any other random developer's project, there is a chance they would pick the Kushners with the idea that the family's close ties to the president could improve their chances of getting an EB-5 visa. Jared Kushner's sister proudly mentioned his association with Trump during the presentation to investors. It doesn't matter whether any actual wrongdoing occurs during the EB-5 review & approval process. At the end of the day, the Kushners stand to profit because of their association with Trump. In a normal times, a prudent developer would probably steer clear of such a strong appearance of a conflict of interest. However, time and again the Trump administration has shown its flagrant disregard for traditional ethical norms. The Kushners might as well cash in on the gravy train.
Posted on: 2017/5/7 17:37
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Jared Kushner?s sister offers U.S. visas to Chinese investors for family?s real estate development
NEW YORK DAILY NEWS Updated: Sunday, May 7, 2017, 9:48 AM Jared Kushner?s sister offered wealthy investors in China a chance to score American visas if they invest in one of the family?s properties ? a deal that watchdogs saw as blatant bribery. http://www.nydailynews.com/news/polit ... vestors-article-1.3144365
Posted on: 2017/5/7 16:20
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embarrassing posts by bodhipooh
Posted on: 2017/5/7 15:28
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Re: Kushner family in Beijing: 'Invest $500,000 and immigrate' to US
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How is it a conflict of interest? People often throw that concept around with regards to situations they don't like. But, there's only a conflict of interest if the person or organization is involved in multiple interests and one could unduly influence one of the others. In this case, where's the conflict? No developer is issuing visas, and they are not involved in the process of approving visas. Developers hold seminars in which they explain to wealthy people that if they are willing to spend upwards of 500K in their projects, the person would be entitled to apply for the EB5 visa. At that point, the developer is looking for money and providing information that could entice someone to give them some. If a wealthy investor is willing to part with a large sum, that person could invest it on the project being pitched to him, or any other project, and after doing so he (or, his lawyer or representative) can then apply to DHS for an EB5 visa. At that point, it is up to USCIS to approve or deny that request. The investor visas are capped annually, and the applicants still have to satisfy a few other requirements. Regardless, the assigned case officer will make a determination. So, again, where's the conflict of interest? Trump is not sitting in the Oval Office approving visa applications, the developer is not selling visas, and this is done by a lot of developers.
Posted on: 2017/5/7 12:27
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China has massive capital outflows right now. A lot of that money is going into real estate. The goal is not to make a good return but to avoid losing everything (which will happen if the money stays in China).
Posted on: 2017/5/7 1:12
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People are complaining because it's an obvious conflict of interest when the developer offering visa's for investment $$$$ is a Kushner and related to our moron president.
Posted on: 2017/5/6 22:57
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Seriously, how is this news? The EB5 visas have been around for a long time, and they are a vehicle used by many developers all over the US to get projects financed and completed. Heck, most of Miami's real estate boom was fueled by foreign money generated through the EB-5 visa allure. Or, how else do you think all those wealthy Mexicans and Venezuelansin Miami got their LPR and citizenship status??
If you disagree with LPR/citizenship granted to someone willing to invest half a mil in the US, then reach out to your congressman/woman and your senators. Meanwhile, there is nothing wrong or nefarious in what the Kushners are doing. It's the same thing all savvy developers are doing: wooing foreign capital to fund projects.
Posted on: 2017/5/6 21:24
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Kushner family in Beijing: 'Invest $500,000 and immigrate' to US
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Kushner family in Beijing: 'Invest $500,000 and immigrate' to US
May 6, 2017: 2:16 PM ET The Kushner family hopes to lure investments from wealthy business owners in China with the promise of American visas. Nicole Kushner Meyer, the sister of White House adviser and President Trump's son-in-law Jared Kushner, spoke at an event in Beijing on Saturday. She was marketing a Kushner-owned property in New Jersey -- invest in the development and get into the United States on a so-called EB-5 visa. . . . The event was meant to draw investors for 1 Journal Square, a $976.4 million residential and commercial project underway in New Jersey. The company says about 15% of it will be funded through the EB-5 program. . . . http://money.cnn.com/2017/05/06/news/ ... e-family-event/index.html Eyebrows raised over Kushner family pitch in China for Journal Square towers financing http://www.nj.com/hudson/index.ssf/20 ... na.html#incart_river_home
Posted on: 2017/5/6 20:08
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Developers celebrate opening of first Journal Square high-riseBy JERSEY CITY -- The developers behind the first tower in the Journal Squared project celebrated the opening of the 53-story high-rise today, saying the "bold and beautiful" building will transform the area. The first residents begin moving into the tower's 538 luxury apartments tomorrow. Jonathan Kushner, of KRE Group, which is behind the three-tower project, said KRE has leased about 100 apartments since the leasing office opened a week ago. The $204 million tower is Journal Square's first skyscraper, the first of five high-rises planned for around the PATH hub. A sixth is planned for across Sip Avenue, on the site of the old Jersey Journal building. http://www.nj.com/hudson/index.ssf/20 ... _high-rises_opens_to.html
Posted on: 2017/3/18 4:43
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Journal Squared's first Jersey City apartment tower launches leasingThe building’s 538 apartments all have views of Manhattan and beyondCURBED NEW YORK by Mar 8, 2017, 10:00am EST The first phase of Journal Squared, a massive project in Jersey City developed by KRE Group and National Real Estate Advisors, is officially on the market. Leasing launched this week for the first tower’s 538 apartments. Eventually, the development’s three towers will collectively bring 1,838 apartments, 36,000 square feet of retail, and a public plaza to the Journal Square neighborhood. Apartments in the 432 Park look-alike will begin on the ninth floor to ensure that “each apartment offers spectacular views of the Hudson River, Statue of Liberty, and the Manhattan skyline,” per a release. More than half of the units are one-bedrooms with open floor plans, hardwood floors and oversized windows. http://ny.curbed.com/2017/3/8/1484958 ... city-tower-leasing-launch
Posted on: 2017/3/8 19:04
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Journal Squared's first Jersey City tower will rent from $1,800Also get a drone’s-eye view of the massive development siteCURBED NEW YORK - by Jan 25, 2017, 5:15pm EST Just over a week after we saw photos of the nearly-finished first tower at the massive Journal Squared development in Jersey City, we now have pricing info on the project that will bring 538 apartments to the neighborhood. The Wall Street Journal reports that studios here will start from $1,800/month, one-bedrooms from $2,100, and two-bedrooms from $3,200. More than 50 percent of the units here are one-bedrooms, and a little over 25 percent are studios, according to the Journal. The first of three towers being developed by the KRE Group and National Real Estate Advisors, is part of an overall development that will eventually bring 1,838 apartments to Journal Square along with 36,000 square feet of retail, a public plaza, and restaurants. http://ny.curbed.com/2017/1/25/143907 ... y-pricing-leasing-kushner
Posted on: 2017/1/27 0:52
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Posted on: 2017/1/23 21:09
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2009/3/19 15:20 Last Login : 2020/6/2 11:06 From Scenic McGinley Square
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While not in The Heights, McGinley Sq. is getting a 12 screen theater and premium restaurant space. Whatever that means.
Jersey Digs
Posted on: 2017/1/23 17:09
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2007/8/1 19:34 Last Login : 2022/4/27 19:59 From journal square
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i know. im just trying to start chaos again like that other thread that went on for 12 years. but in all honesty, i do think its a good location and theres a real dearth for a good supermarket, and even a movie theater could do well there too.
Posted on: 2017/1/23 17:04
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Posted on: 2017/1/23 15:09
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2007/8/1 19:34 Last Login : 2022/4/27 19:59 From journal square
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I heard theyre getting a Whole Foods
Posted on: 2017/1/23 14:17
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they could use a high quality supermarket up there....any plans?
Posted on: 2017/1/23 7:50
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There are also a few smaller projects about 40 to 130 units going up. Most of these are rentals. I'm not aware of any of these being condos. There's also a micro units building going up on Academy. The micros are really small... I mean small!!
We are trying to put together a deal too for about 120 units. Off the top of my head I know of four that are either approved or In the process of getting approvals.
Posted on: 2017/1/20 0:51
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All Jersey City Real Estate all the time
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Journal Squared’s first Jersey City tower nears completionCurbed New York - by Jan 17, 2017, As Jersey City’s skyline continues to transform, a few tall towers have started to rise above the rest. There’s the 780-foot Goldman Sachs tower, which was completed in 2004; Urby Harborside, a cluster of boxy towers; and the Journal Squared complex, which will have 1,800 apartments over three different skyscrapers. As the first phase of the latter development inches towards completion, Field Condition took a trip across the Hudson River to see how the building is coming along. This particular tower is the smallest in the larger Journal Squared development; it’ll rise just 563 feet and 53 stories when it’s finished, compared to the other two buildings, which will rise 60 and 70 stories. http://ny.curbed.com/2017/1/17/142990 ... uared-construction-photos
Posted on: 2017/1/17 22:20
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Leasing to begin at Journal Squared in FebruaryNJBIZ By Andrew George, December 19, 2016 at 12:08 PM With the first of three residential towers situated next to the Journal Square PATH station in Jersey City now complete, the mixed-use Journal Squared project will begin leasing rental space in February 2017. Developed by Kushner Real Estate Group and National Real Estate Advisors, the project ultimately calls for 1,838 residential units and approximately 36,000 square feet of retail dining space with direct access to the transit hub. The now completed 53-story tower will offer 538 rentable residential units. The two other towers will stand at 63 stories and 71 stories, respectively. Read more: http://www.njbiz.com/article/20161219 ... ournal-squared-next-month
Posted on: 2016/12/20 0:18
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Jersey City's First Journal Squared Tower Close to Topping Outhttp://ny.curbed.com/archives/2015/12 ... _close_to_topping_out.php
Posted on: 2015/12/14 17:00
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Journal Square high-rise construction project halted over falling debrisBy JERSEY CITY -- The massive Journal Squared construction project in Journal Square has been temporarily halted after debris fell from the high-rise building this afternoon, Jersey City spokeswoman Jennifer Morrill said. Pavonia Avenue between Kennedy Boulevard and Summit Avenue, and Homestead Place, between Pavonia and Van Reipen avenues, have been closed until at least tomorrow. The streets will not be reopened until the netting on the 53-story residential high-rise is re-secured, Morrill said. Read more: http://www.nj.com/hudson/index.ssf/20 ... ruction_project_halt.html
Posted on: 2015/12/12 0:35
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2008/1/3 19:12 Last Login : 2020/9/30 18:46 From Van Vorst Park
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It's pretty unbelievable that they are all going to be rentals. Does nobody see a market for condos here? There is like zero inventory for sale anywhere downtown.
Posted on: 2015/9/1 22:19
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How are people going to get around this city? I am all for a commuter lifestyle but you have to have the means.
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All of the towers going up in the JSQ area are slated to be rentals. Journal Squared will be three towers, with about 1800 units. 30 Journal Square will be 525 rental units. 3 Journal Square will be 240 rental units.
Posted on: 2015/8/31 20:49
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Good luck getting a seat on the Path if you live anywhere downtown. This will exacerbate an already awful situation.
Posted on: 2015/8/31 20:31
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will the new JSQ towers be rental only? or condos?
any word on when they will be finished / potential pricing?
Posted on: 2015/8/31 17:42
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Going up! Journal Squared construction in Jersey CityBy Jersey City's rapidly changing skyline will soon feature one of the state's tallest residential buildings. In Journal Square, construction is underway on a three-tower residential project that will bring over 1,800 new housing units to the neighborhood. Located between Magnolia, Pavonia, and Summit Avenues, just east of the Port Authority transportation hub, "Journal Squared" will include a 54-story tower with 538 units; a 70-story tower with 700 units; and a 60-story tower with 600 units. http://www.nj.com/hudson/index.ssf/20 ... ruction_in_jersey_ci.html
Posted on: 2015/8/27 18:19
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2013/10/15 19:58 Last Login : 2015/12/30 14:17 From Paulus Hook
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Yes, they've dug out quite an impressive hole and started pilings.
Posted on: 2014/11/21 19:00
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