New York YIMBY recently got an on-the-record interview with Jonathan Kushner of Kushner Real Estate Group, the company behind many projects in Jersey City, the most recent being 485 Marin and the transformative Journal Squared.
Asked about their Journal Squared project and its impact on the surrounding neighborhood, Kushner said they are very happy with the success of the first tower and anticipate continued strong demand in the neighborhood.
Demand for luxury apartments in Journal Square is very high. For example, the first Journal Squared tower, which consists of 538 apartments ranging in size from studios to three bedrooms, was fully leased in less than 10 months.
Fresh off the heels of the first tower’s lease up, KRE broke ground on the second tower which will be the tallest of the three. If all continues to go well, the company hopes to have the third tower finished by 2024.
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.
And KRE is not stopping there. Kushner revealed in the interview that they’re actively acquiring additional sites in the neighborhood.
KRE is currently under contract for additional sites in the neighborhood with plans to build. We’re constantly looking for new opportunities in the area.
Click over to New York YIMBY to read the full interview: Jonathan Kushner Tells YIMBY Journal Squared’s Three Skyscrapers Will Fully Open By 2024, More