Posted Jan 29, 2019, 8:39 PM
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NYC/NJ/Miami-Dade
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Join Date: Jul 2013
Location: Riverview Estates Fairway (PA)
Posts: 45,840
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Jonathan Kushner Tells YIMBY Journal Squared’s Three Skyscrapers Will Fully Open By 2024, More
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When it comes to new construction in Jersey City’s Journal Square, no firm is more prominent than Kushner Real Estate Group, which has continued development of the massive Journal Squared complex with the recent ground-breaking of the project’s second skyscraper, now climbing above ground level. YIMBY spoke with the firm’s eponymous president, Jonathan Kushner, to discuss the site and its impending second and third towers, KREG’s general portfolio growth, as well as Mr. Kushner’s outlook on the state of the neighborhood and the local market.
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Journal Squared is already transforming the surrounding neighborhood. When did you acquire that site and how many more years will we have to wait until all three towers are finished?
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KRE began assembling the Journal Squared site in 2007. When finished, the mixed-use development, which is designed by Hollwich Kushner and Handel Architects, will bring a total of 1,840 rental apartments to Journal Square, a transit-centric neighborhood on the brink of a major revitalization. We broke ground on the first tower in 2014 and opened it to residents in 2017. Last year, we broke ground on the second tower, which will top out at 70 stories, making it the tallest of the three buildings. It’s slated to open in 2021, and we expect to break ground on the third tower that same year. If this cycle continues, the entire development should reach completion by 2024.
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