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Re: Journal Squared Project to Begin
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too bad they didn't build sooner to take advantage of explosive demand in Manhattan

https://gothamist.com/news/desperate-n ... wars-rental-demand-surges

Posted on: 10/15 20:22
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Construction Begins on Journal Squared's 60-Story Tower 3 in Jersey City

Thu October 14, 2021 - Northeast Edition

Construction has begun on the third and final tower of Journal Squared, a three-skyscraper, mixed-use development in Jersey City, N.J.'s historic Journal Square neighborhood.

Designed by HWKN Architecture and Handel Architects, each with offices in Manhattan, and developed by Jersey City-based Kushner Real Estate (KRE) Group and National Real Estate Advisors in Washington, D.C., the 60-story building will be made up of 600 rental apartments.

It follows the completion of the first two Journal Squared towers, in 2017 and early 2021, respectively.

In total, the three-tower complex will comprise 1,840 residences, 36,000 sq. ft. of dining and retail area, and a direct connection to the Journal Square Transportation Center. The facility provides access to NJ Transit and is a major stop on the PATH rail system, with service to lower and midtown Manhattan, Hoboken and Newark.

https://www.constructionequipmentguide ... er-3-in-jersey-city/54098


Posted on: 10/14 15:16
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They're awfully ugly coming in from the pike blocking out the beauty of the NYC skyline, but when you stand in front of them on the street--phew...just plain tasteless.

Box living in the air....

Pity the neighborhoods and the people. Those things will cast shadows quite a ways.

Posted on: 10/10 15:00
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great news. but I think jc leaders need to pay a visit to Williamsburg
and other parts of nyc to see how attractive buildings with character and oenhances neighborhoods. I'm getting tired of looking at all these non-descript boxes in jcQuote:

CuriousCat wrote:
Hi,

The Journal Squared project at Journal Square from Pavonia Ave to Summit Avenue is about to begin.

I have mixed feelings: At one end, I enjoy some of the nice newer developments in the JC area. Because of them, I get to enjoy nearby restaurants, shops, parks, and just a nicer area than the current JSQ area, which is still clustered and dingy. At the other end, some nicer residential towers that are currently up and running demand rents that I, honestly, cannot afford.

This brings me to the residents about to be displaced. Where are middle income tenants like that suppose to go if they cannot afford to live in a nice building? They are being pushed out so others can enjoy the proximity to the trains leaving the current residents to find something (near transportation) with rent that is $2600+/a month or they would have to move out of JC.

Maybe it's just me but I feel there is no middle ground. It's either a place you can't afford in the luxury towers or a residence that is worse than where one currently is.

With that said, is there a place for middle income residents in JC that's decent?


Posted on: 10/10 11:18
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great news. but I think jc leaders need to pay a visit to Williamsburg
and other parts of nyc to see how attractive buildings with character and oenhances neighborhoods. I'm getting tired of looking at all these non-descript boxes in jc

Posted on: 10/10 11:18
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KRE Group breaks ground on Journal Squared’s third tower, shows off second tower views

Principals from KRE Group and National Real Estate Advisors, LLC Tuesday marked two significant milestones at Journal Squared, the high-rise apartment complex with awe-inspiring views in Jersey City’s historic Journal Square neighborhood.

The development partners, along with Jersey City Mayor Steven Fulop and Hudson County Executive Tom DeGise, celebrated the five-month lease-up of Journal Squared’s 704-unit second tower and broke ground on the project’s third and final building, a 60-story high-rise comprising 600 rental residences.

Located at Pavonia and Summit avenues and with direct access to the Journal Square Transportation Center, the three-tower development will ultimately total 1,840 rental residences and 36,000 square feet of retail and restaurant space in 53-, 60- and 68-story buildings.

https://www.nj.com/hudson/2021/10/kre- ... d-tower-views-photos.html


Posted on: 10/6 23:23
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Murray Kushner’s KRE snags $258M loan for phase II of massive Jersey City project

The second phase at Journal Squared is slated to open in 2021
By Meenal Vamburkar | January 25, 2019 09:00AM

The KRE Group has landed funding for the second phase of its massive Jersey City rental development.

The firm secured $258 million in construction financing, KRE said in a state ment Friday. Wells Fargo and Capital One provided the loan.

The funding will be used for Tower Two at Journal Squared, a mixed-use project comprised of three buildings with 1,840 rental units in total. Tower Two will stand 71 stories tall, with 704 residences, and is slated to open in 2021.

“The closing of this loan signifies another important milestone for the Journal Squared development,” Jonathan Kushner, president of KRE Group, said in the statement. “Construction of the second tower is already well underway and we look forward to bringing it to completion.”

https://therealdeal.com/2019/01/25/mur ... sive-jersey-city-project/


Posted on: 2019/1/27 15:30
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Re: Kushner family in Beijing: 'Invest $500,000 and immigrate' to US
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It's just getting uglier by the day.

Posted on: 2018/12/14 15:23
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Construction underway for Jersey City’s Journal Squared


Posted on: 2018/12/13 17:41
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I am aware of it. Thank you.

Posted on: 2017/8/3 21:57
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You do realize KUSHNER COMPANIES is NOT developing Journal Squared. KRE group is Journal Squared, they are two different companies. That being said, this article has nothing to do with this thread.

Posted on: 2017/8/3 20:02
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Kushner Companies subpoenaed over use of visa program: report

BY MAX GREENWOOD - 08/02/17 08:53 PM EDT

New York federal prosecutors subpoenaed Kushner Companies, the real estate development company owned by the family of President Trump's son-in-law and senior adviser Jared Kushner, over its use of a visa program that offers green cards to wealthy foreign investors.

The subpoena was received by Kushner Companies in May, the Wall Street Journal reported Wednesday, and regards the company's use of the EB-5 visa program to finance a development in Jersey City, N.J. called One Journal Square.

It isn't clear what potential violations the Brooklyn U.S. attorney's office is looking into.

The EB-5 visa program offers green cards to foreigners who invest at least $500,000 in U.S. businesses that would create at least 10 permanent, full-time jobs for American workers.

The company launched a marketing campaign in Beijing and Shanghai in May seeking Chinese investors. That campaign promised green cards for as many as 300 people who invested the requisite $500,000 in One Journal Square.

Kushner Companies came under fire in May after Kushner's sister Nicole Meyer, a principal at the company, mentioned her brother's service in the Trump administration during a pitch to investors in Beijing.

The company later apologized for the remarks and said that Meyer's statement was not intended to use Kushner's work in the Trump administration to attract investors.


http://thehill.com/blogs/blog-briefin ... -of-the-eb-5-visa-program

Posted on: 2017/8/3 3:36
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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: 2017/7/21 1:55
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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: 2017/6/15 2:24
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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.
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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.
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http://www.reuters.com/article/us-chi ... ner-qiaowai-idUSKBN18P0J9

Posted on: 2017/5/29 17:07
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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: 2017/5/25 1:51
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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: 2017/5/24 21:43
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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:


Resized Image

Posted on: 2017/5/21 13:47
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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: 2017/5/21 2:32
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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: 2017/5/11 4:33
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Posted on: 2017/5/11 2:01
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Quote:

citybooster wrote:
This is the wrong thread for this subject as it pertains to KRE's Journal Squared, NOT KABR's One Journal Square.
Well the thread is for Journal Squared, but the article referenced 1 JSQ which is the empty vacant lot. Regardless, the point is that the property has been vacant for far too long. But youre correct. Wrong thread.

Posted on: 2017/5/10 16:14
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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: 2017/5/10 15:31
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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: 2017/5/10 13:57
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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: 2017/5/9 15:09
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Quote:

Monroe wrote:
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.


You know why. Because those with their hands out will vote Democrat at some point.

That's their base.

Posted on: 2017/5/9 12:48
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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: 2017/5/9 11:41
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The Kushner Project Touted in China Is in Trouble at Home

BLOOMBERG 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: 2017/5/9 1:10
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Kushner Companies apologizes for pitch to Chinese investors

By The Jersey Journal
on May 08, 2017 at 5:14 PM

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: 2017/5/8 22:47
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Looks like Fulop is in for discrimination.

Posted on: 2017/5/8 17:53
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