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56-Story, 744-Unit Mixed-Use Tower Proposed At One Journal Square, Jersey City


One Journal Square, image at right via The Jersey Journal

BY: REID WILSON 10:00 AM ON AUGUST 20, 2015

Earlier this year, Kushner Companies and KABR Group acquired the development site at One Journal Square, in Jersey City’s Journal Square neighborhood, and now an initial rendering has surfaced of the project’s first tower. Proposed at 56 stories and 666 feet, the 1.1 million square-foot building will have 744 residential units, with 120,000 square feet of retail and office space in its nine-story base, per The Jersey Journal. The Planning Board has not yet approved the tower. Last year, YIMBY revealed Humphreys & Partners’ now-outdated proposal.
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Some updated Renderings...
Plans for Jersey City tower show Journal Square transformed

By Terrence T. McDonald | The Jersey Journal
on December 03, 2015 at 10:04 AM

JERSEY CITY — New renderings of the 56-story tower slated for a lot near the PATH transportation hub show just how unrecognizable Journal Square may be in a few years.

The $400 million high-rise, dubbed One Journal Square and courtesy of Kushner Companies and KABR Group, is part of a planned two-tower project proposed for a long-vacant lot across the street from the old headquarters of The Jersey Journal.
Read Full Article Here :






 

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Absolutely much better... while I would like Jersey City to see some unique, iconic architecture spring up among its new towers this is very impressive if a bit conservative tower wise. The lower floors/base and plaza look very good... really makes the street grid click!
 

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I think there's still some transactions going on related to this, so moving forward, but no groundbreaking scheduled yet. I'm basing this on the meeting minutes of the JCRA from January.
 

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So crazy that 10 years ago, City Centre towers were announced and still nothing on this site. BTW, my super said 26 Journal Square (top right) is going condo. Any info on this? This area needs a big condo component by the PATH Transpiration Center.
 

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Haven't seen anything about that, and it looks like it was relatively recently renovated (for continued office use). Still, I guess it wouldn't be surprising.

5/22 - still nothing, and the same pickups are there


 

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Commercialdistricts.com provides cleaning and maintanence services to neighborhood retail areas. It has nothing to do with a new skyscraper.
 

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WeWork, Kushner mulling WeLive in Jersey City



Jersey City could become home to WeWork’s third co-living location in the U.S. The shared office company and Kushner Companies are mulling turning part of the 57-story development One Journal Square into a WeLive space, according to a source familiar with the project.
Kushner Companies plans to complete the $400 million tower, developed in partnership with WeWork and KABR Group, in 2018. According to previous news reports, WeWork will run a 101,000-square-foot co-working space in the building. The co-working company in November won a $59 million award from the New Jersey Economic Development Authority for the project, which the authority estimates will create 723 full-time jobs.
Kushner Companies and KABR bought the site for $27 million in January 2015 and are also partnering on two other Jersey City developments at 30 Journal Square and at 65 Bay Street.
In April, WeWork officially launched its first co-living space under the WeLive brand in Rudin Management’s 110 Wall Street in lower Manhattan. WeLive tenants can rent rooms or beds in shared apartments for upwards of $1,375 per month in the tower, which also includes a co-working space. The company also operates a WeLive in Vornado Realty Trust’s Crystal City office complex outside Washington, D.C.
Representatives for Kushner Companies and WeWork declined to comment.

http://therealdeal.com/2016/06/20/wework-kushner-mulling-welive-in-jersey-city/
 

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It's starting to look as either:

1. Land squatting again to flip over to other developer for a sizable profit...
2. They're not able to get the financing to get the project started... or...
3. They are purposely holding out to see how Journal Squared & 3 Journal Square Plaza perform before they start building.
 
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