The Kushner family is doubling down on Journal Square. Back in January, developer Jared Kushner (pictured above with wife Ivanka Trump) partnered with KABR Group to purchase One Journal Square for a cool $27 million. Today, NJ.com has posted initial renderings of the planned 56-story rental tower to be built at One Journal Square.
The tower will rise 666 feet into the air and include 744 residential units comprised of studios, 1BRs, 2BRs, 3BRs, and 4BRs. The tower’s nine-story base will include about 120,000 square feet each of retail/office space and a 118,230-square-foot parking garage for 388 cars. There are no affordable units planned for the tower.
Around the corner from One Journal Square, KRE Group, headed by President Jonathan Kushner, is building Journal Squared. Jared and Jonathan are first cousins, sons of feuding brothers Charles and Murray. Murray Kushner is chair of KRE Group, which owns property throughout downtown Jersey City.
Kushner and KABR also own 30 Journal Square, the old offices of The Jersey Journal, and plan to build a 40-story luxury tower there as well (previously called City Centre Towers). However, Kushner has indicated that One Journal Square will take precedence over 30 Journal Square. While it’s great to see JSQ get some love, the scary part is what’s going to happen to the already-filled-to-capacity Path trains once all these towers are built and filled with new residents. As it is now, it’s already hard getting into a Path car at Grove, Pavonia, and Exchange Place. —NJ.com
