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Exclusive: Jared Kushner's White House connection still being used to lure Chinese investors
By Drew Griffin and Curt Devine, CNN Investigates Updated 9:22 PM ET, Thu July 20, 2017 Jared Kushner's status as a top aide to President Donald Trump was used to lure Chinese investors to his family's New Jersey development, even after his family's company apologized for mentioning his name during a sales pitch in May, CNN has found. References to Kushner are part of online promotions by two businesses that are working with Kushner Companies to find Chinese investors willing to invest in the 1 Journal Square development in exchange for a US visa. The promotions are posted in Chinese and refer to Kushner Companies as "real estate heavyweights," going on to mention "the celebrity of the family is 30-something 'Mr. Perfect' Jared Kushner, who once served as CEO of Kushner Companies." More: http://www.cnn.com/2017/07/20/politic ... -kushner-visas/index.html
Posted on: 7/20 21:55
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Kushner Cos. withdraws request for tax break for building in New Jersey
http://www.nydailynews.com/news/natio ... -jersey-article-1.3248238
Posted on: 6/14 22:24
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U.S. Senator calls for probe into promotion of Kushner Cos deal
Mon May 29, 2017 | 3:07am EDT By Alexandra Harney | SHANGHAI The chairman of the Senate Judiciary Committee has called for an investigation into "potentially fraudulent statements and misrepresentations" made by companies promoting investment in a property development involving the family company of White House advisor Jared Kushner. Citing a May 12 report by Reuters, Chuck Grassley, a Republican senator from Iowa, requested a review of claims made by Chinese migration agency Qiaowai and the U.S. Immigration Fund (USIF) in the marketing of the One Journal Square project in Jersey City, New Jersey to potential investors in China. . . . Criticism of the program has centered on instances of fraud and the fact that most of the funds in a program originally intended to help impoverished areas have instead gone to wealthy urban districts. . . . http://www.reuters.com/article/us-chi ... ner-qiaowai-idUSKBN18P0J9
Posted on: 5/29 13:07
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Now if President Trump had put that program in place-that'd be a story! But it's been an ongoing program for years, with great benefits for construction jobs that may not have existed if funding for buildings wasn't there. Another mouseburger story, and calling it 'controversial' while it's been in existence since 1990-and Obama didn't seem to mind it.
Posted on: 5/24 21:51
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Kushners know it helps to have friends in the oval office | Editorial
Updated on May 24, 2017 at 11:10 AM Posted on May 24, 2017 at 11:00 AM BY STAR-LEDGER EDITORIAL BOARD eletters@starledger.com President Trump kept the government open recently by signing a $1.1 trillion appropriations bill, and tucked into that 1,665-page monstrosity was one paragraph that enables wealthy foreigners to buy American citizenship. The next day, Nicole Kushner Meyer addressed an audience in a Ritz-Carlton ballroom in Beijing, where she used that wee item in the spending bill - which extends the controversial EB-5 visa program through September - to help rich Chinese investors obtain green cards and fast-track their American dream. All it takes was a half-million bucks, which Ms. Kushner Meyer would plunge in her company's luxury apartment towers in Jersey City. Remember how Trump said we'd never have to worry about whether his family's global business interests would influence how he governs? This isn't one of those cases. More: http://www.nj.com/opinion/index.ssf/2 ... al.html#incart_river_home
Posted on: 5/24 17:43
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Money is flowing out of China into the USA. The wealthy Chinese are "getting out of Dodge" before the Chinese economy implodes:
Posted on: 5/21 9:47
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Green card 'guaranteed' for Journal Square investment: report
Posted on May 20, 2017 at 2:38 PM BY MARGARET SCHMIDT The Jersey Journal Green cards were "guaranteed" for potential mega-investors in a Kushner project in Jersey City's Journal Square, but the "green'' had nothing to do with solar energy, according to a new report on the project. Rather, it referred to $500,000 from Chinese investors looking to get visas through the controversial EB-5 visa program, The New York Times reports. Potential investors were told it was a virtual certainty to work, the newspaper said, because of the project's ties to President Trump and the first family. "They said the president would make sure it came through," the Times quoted Lu Ling, a technology executive in the southern Chinese city of Guangzhou, as saying. "They said there was no chance it could fail." http://www.nj.com/hudson/index.ssf/20 ... en.html#incart_river_home
Posted on: 5/20 22:32
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I hope the project stalls for a long time. We are over-developing.
If you think trains are packed already heading into grove and onto the city, just wait until all of these new projects in Journal Square are filled with people. More people with no new infrastructure.
Posted on: 5/11 0:33
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Posted on: 5/10 22:01
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Quote:
Posted on: 5/10 12:14
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This is the wrong thread for this subject as it pertains to KRE's Journal Squared, NOT KABR's One Journal Square.
Posted on: 5/10 11:31
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I pushed 8 years ago, to turn this site into a large scale outdoor flea market which is in a great location due to the access to the PATH. I was told the site was owned and would be turned over for development very soon. That was 8 years ago. I think its time to revisit new options for that site again.
Posted on: 5/10 9:57
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Interesting to see how this plays out. I find it hard to believe that Fulop was unaware of this. Remember... " In Jersey City, where Kushner Cos. has invested in five major projects in recent years, both Jared and his father have a close relationship with Mayor Steve Fulop. Fulop has received glowing coverage in the New York Observer, and as the Kushners were developing Trump Tower in Jersey City in 2014, they hired one of Fulop’s closest political strategists to work as an expediter on the project."
Source: https://www.bloomberg.com/news/feature ... llow-inmates-into-company
Posted on: 5/9 11:09
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Quote:
You know why. Because those with their hands out will vote Democrat at some point. That's their base.
Posted on: 5/9 8:48
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Somehow people get riled up over foreigners putting up half a million dollars to invest in the US, but support other foreigners swimming across the Rio Grande with their hands out. Amazing.
Posted on: 5/9 7:41
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The Kushner Project Touted in China Is in Trouble at HomeBLOOMBERG byCaleb MelbyandDavid Kocieniewski - May 8, 2017, 6:03 PM EDT When Jared Kushner’s sister took the stage in two Chinese ballrooms over the weekend to urge investors to fund a New Jersey development through a controversial visa program, she mentioned her brother’s role in the White House and displayed a photo of President Donald Trump. It was a not-so-subtle signal that hers is a family company with connections. What she didn’t mention was that the project has suffered a slew of problems: the exit of its anchor tenant, the loss of millions in tax breaks and a curdling political relationship with the mayor of its host city. The previously unreported exit by tenant WeWork -- which is also expected to sell its stake in the project -- as well as the mayor’s shift, add up to a sharp reversal of fortunes that led the family company to do what it has done before: seek Chinese investors. https://www.bloomberg.com/news/article ... ina-is-in-trouble-at-home
Posted on: 5/8 21:10
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Kushner Companies apologizes for pitch to Chinese investorsBy Kushner Companies, the development firm formerly run by presidential adviser and son-in-law Jared Kushner, apologized today for statements made in Beijing regarding the One Journal Square project in Jersey City. Nicole Kushner Meyer, Kushner's sister, mentioned her brother at a conference for wealthy Chinese investors as she tried to convince them to invest in the $821 million, two-tower project. "In the course of discussing this project and the firm's history with potential investors, Ms. Meyer wanted to make clear that her brother had stepped away from the company in January and has nothing to do with this project," the company said in a statement. "Kushner Companies apologizes if that mention of her brother was in any way interpreted as an attempt to lure investors. That was not Ms. Meyer's intention." http://www.nj.com/hudson/index.ssf/20 ... for_pitch_to_chinese.html
Posted on: 5/8 18:47
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Looks like Fulop is in for discrimination.
Posted on: 5/8 13:53
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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: 5/8 12:57
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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: 5/7 13:37
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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: 5/7 12:20
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embarrassing posts by bodhipooh
Posted on: 5/7 11:28
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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: 5/7 8:27
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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: 5/6 21:12
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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: 5/6 18:57
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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: 5/6 17:24
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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: 5/6 16:08
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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: 3/18 0:43
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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: 3/8 14:04
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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: 1/26 19:52
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