The stage is set for yet another massive Journal Square project to commence construction as about two acres of land has been transferred to Kushner Real Estate (KRE) with approvals in place for two towers, an art walk, and a possible end to Jersey City’s Pompidou saga.
KRE, who are just wrapping up work on their transformational Journal Squared complex, recently acquired several parcels for a total of $48.5 million. The land includes 808 Pavonia Avenue, 132-140 Van Reipen Avenue, 12 Bryan Place, 813 Pavonia Avenue, 270 Magnolia Avenue, and 54 Journal Square, all of which are situated over the PATH rail trackage and adjacent to the Loews’ Theater.
Jersey Digs was the first outlet to publish renderings of the project in 2022, with the two-tower development gaining approval just a few months later. One large change that has been made to the development in the last few months involves a 30-year tax abatement that was approved by Jersey City’s Council last month.
In exchange for that deal, KRE’s latest project will include space for the Pompidou Museum. Jersey City had originally planned the museum’s first U.S. outpost for a nearby property, but that plan fell apart following funding issues with the state’s Economic Development Authority.
Besides the museum, plans for the project call for towers of 55 and 49 stories that are both set to sport three-story podiums. The design of both structures is tiered, with the exterior of the buildings utilizing articulated metal panels plus ground floor curtain walls.
The entirety of the project, which saw some new renderings released through the New York Immigration Fund, is slated to include a total of 1,189 units, breaking down as 405 studios, 611 one-bedrooms, 149 two-bedrooms, and 24 three-bedroom units. No affordable housing is included in the plan.
Amenities for residents at the complex will include an onsite pool, roof amenity areas, a karaoke room, golf simulators, billiard rooms, a kid’s playroom, lounges, and co-working spaces.
The development also includes some amenities for the community, as a “street connector” will be built between Pavonia and Van Reipen Avenues to facilitate an “art walk” spanning the project. A 6,194 square-foot gallery and café space is slated for the start of the art walk inside a shorter structure across from the two-tower development’s taller building.
The remainder of the art walk space will span Kennedy Boulevard and create areas dubbed Magnolia Plaza, The Town Square, The Art Space, and The Dog Park. Other components of the walk include an amphitheater area and a landmark clocktower.
Per a redevelopment agreement with the city, KRE will be making an additional $3.5 million contribution to the Journal Square Cultural Arts Fund as a giveback that will allow the towers to exceed the area’s 37-store height limit.
Bob Antonicello, who was brought on as an advisor to the project via GRID nearly eight years ago, recently revealed that construction of the development’s first phase is slated to commence in the coming months. A parking lot associated with the property did close earlier this fall, but an official groundbreaking date has not been announced.
The massive new endeavor from KRE, which is run by Murray and Jonathan Kushner, is not to be confused with the different Kushner Companies across the street who are currently building two towers of their own at One Journal Square.
