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FUTU
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Overview -
Bringing Jersey City into the Limelight The new frontier for the New York metropolitan area’s young, trendy crowd isn’t just in the far reaches of Soho, Hoboken or Dumbo, more and more people are choosing Jersey City. Just 12 minutes away from Manhattan and boasting some of the most picturesque views of the legendary New York skyline, residents of all types are flocking to Jersey City. Be it young professionals or families, Jersey City is developing into a viable alternative to the sky-high prices and cramped quarters of New York City, with a more hip and up-and-coming vibe than neighboring areas like Hoboken. Building to meet the future comes One Journal Square. This one-of-a-kind, groundbreaking development will see a fusion of comfortable modern living, upscale retail space and gorgeous hospitality areas. New York may be the city that never sleeps, but One Journal Square is where the metropolitan area’s hip and cool will come to recharge, live and play.
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Feast Your Eyes -
Thousands of New Residents and They’re All Going to Need a Quality Supermarket Destination One Journal Square will play host to families and foodies alike. With such a diverse group, there’ll be an immediate need for a quality food market. In this day and age, people like to know what they’re buying. The educated shopper demands access to fresh, wholesome produce. Whether they’re grilling up a few premium steaks or just whipping up some sloppy joes for the kids, folks want quality. Extensive market research has concluded that there will be an extreme demand for a quality based food market. One Journal Square will offer the perfect destination for such a location.
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Retail Heaven -
Hoboken, Soho, Dumbo, Jersey City With a young, trendsetting crowd, One Journal Square will offer a retail shopping space like no other. One Journal Square will create approximately 70,000 square feet of retail space that will not only cater to the local residents, but will attract shoppers from all over the area. A veritable shoppers paradise, right in the heart of Jersey City.
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Sensory Overload -
You Don’t Have to Cross the River to Have Fun There’s no denying how easy the NYC commute is from One Journal Square, but sometimes residents would rather have great restaurants and nightlife right at their doorstep. One Journal Square is uniquely set up to offer some of the best eateries in the Metropolitan area. From casual to fine dining, comfort food to the exotic, One Journal Square will look to offer something for even the most discriminatory of tastes.
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One Journal Square -
Transportation
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The Metropolitan area is infamous for providing an unpleasant commute. Bridge traffic and bad weather can make even the most routine of commutes testing. At One Journal Square, residents will have the same ease of travel as New York City locals. They’ll easily be able to travel to and from Manhattan via the PATH Train. Similarly, Newark commuters will be able to use the PATH to get to the center of town. One Journal Square will be a sought after destination. The added benefit of such easy access is the ability for New York City and Newark residents to head out to One Journal Square for a day of shopping or a meal at a local restaurant. With the multitude of shopping and culinary options One Journal Square will be poised to be a great destination for a day of fun and exploration.
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Sub Title
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One Journal Square
Incentives In order to foster new employment opportunities, and to encourage new jobs to be located in Journal Square, the State of New Jersey has designated Journal Square as an “Urban Enterprise Zone or “UEZ.” The UEZ Program provides participating businesses with tax and other financial incentives to spur the growth of the companies and the local economy. The benefits for participating businesses include:
Lower Operating Costs for All Tenants REDUCED RETAIL SALES TAX
3.5%
SUBSIDIZED UNEMPLOYMENT INSURANCE COSTS
$4.5k
LONG TERM PROPERTY TAX ABATEMENTS
20-30
TAX-FREE PURCHASES
FREE
Currently 3.5% (Half of the normal sales tax).
For employees earning less than $4,500 per quarter.
Property taxes may be fixed at lower rates with modest, predictable escalators over 20 – 30 years.
Certain items such as capital equipment, facility construction & expansions, upgrades and certain personal property.
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Subsidies for Job Creation
(not including Retail Employment) GROW NEW JERSEY ANNUAL TAX CREDIT
Non-retail businesses that create new jobs may be eligible for a tax credit for up to 10 years, of at least $8,500 per year for each new full-time, benefitted employee hired, up to a maximum of $13,000 per new employee.
TRANSFERABLE CREDITS
$4.5k
MATERIAL FACTOR
3.5%
If the business doesn’t have sufficient tax liability to use the Tax Credit, the credit can be transferred or sold to an entity that can use it.
The business CEO will be required to “certify” that the Tax Credits were a “material factor” in the decision to select NJ as a place to open and that they made New Jersey better than out of state options.
Capital Funding For Energy Efficiency LOANS AND GRANTS To design and implement high efficiency building heating and cooling systems under the Pay for Performance
program, incentives of up to 50% of the cost of the energy
50%
improvements may be made available.
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Journal Square -
Demographic Residents 377,000 people live in a 3 mile radius of Journal Square and approximately 29,000 live within 1/2 mile of the site. The development of the luxury residential projects that are currently approved or under construction around Journal Square will add over 5,000 households to the immediate area, increasing the current household population within 1/2 mile of the project by more than 40%.
Employees Jersey City has a total employment base of 108,914 workers. More than 40% of Journal Square residents aged 25 or greater have a bachelor’s degree or higher. This is an early indicator of an influx of young households with high earning potential. The City’s largest employers are predominantly in financial services, the medical field and the University.
Students Hudson Country Community College, main campus is located in Journal Square and educates over 9,000 students per semester. The campus is located directly adjacent to One Journal Square and draws students, faculty and staff into the Journal Square neighborhood year-round. With classes offered seven days a week, 9am to 9pm, the campus is continually activated by students. These students represent an opportunity for the retail in One Journal Square to capture spending on convenience retail, school supplies and a diversity of food options.
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Billboards -
Your Brand, Five Stories Tall One Journal Square will offer a one-of-a-kind opportunity for brands to advertise to a young, trendsetting demographic. The retail space of One Journal Square will be outfitted with five story tall, state-of-the-art digital billboards. These cutting edge billboards will be able to showcase brand messaging, from print to video, and will be able to feature multiple ads. Located in a prime shopping location, there will guaranteed foot traffic and at five stories tall, these billboards will be impossible to miss.
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Retail Floors -
Parking & Facilities Basement
91 PARKING EXCLUSIVELY FOR SUPERMARKET
Level 1 & 2
SUPERMARKET LOBBY & RETAIL AREA
Level 3 - 7
250 PARKING FOR BOTH RETAIL & RESIDENTS
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Floor Plan
BASEMENT Retail Parking
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Floor Plan
GROUND LEVEL Lobby & Retail
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Floor Plan
LEVEL 2
Lobby & Retail
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One Journal Square -
Ownership Kushner Companies and The KABR Group are proud to be a major part of the redevelopment of Jersey City. With work currently under way at One Journal Square, and with more coming at 30 Journal Square and other locations, the future is bright. We see Jersey City as one of the most exciting and desirable destinations for people from all walks of life in the very near future.
Kushner Companies is a diversified real estate organization headquartered in New York city. Our company is responsible for the ownership, management, development and redevelopment of numerous properties. Our national reach consists of more than 20,000 multifamily apartments, as well as 8 million square feet of office, industrial and retail space throughout New York, New Jersey, Pennsylvania, Maryland, Ohio and Illinois.
The KABR Group was founded by Kenneth Pasternak, Laurence Rappaport, and AdamAltman. They are experienced real estate professionals and entrepreneurs with a successful and proven track record as owners and operators of Real Estate. The KABR Group opportunistically acquires real estate assets throughout the east coast. KABR Group currently owns and operates office, Retail and Industrial assets in excess of 3,500,000 Million square feet. In addition we own and manage over 3000 apartment units. KABR GROUP has over 3,000,000 square feet of construction in various stages of development.
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Disclaimers: One Journal Square Partners, LLC makes no representation concerning the building, nor does it warrant the accuracy of the information presented herein. One Journal Square Partners, LLC shall have no liability whatsoever for the accuracy or completeness of the information contained herein. Interested parties are to make their own investigations, projections and conclusions without reliance upon material contained herein.
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CONTACT
T 212-527-7000
T 201-845-2555
F 212-527-7007
F 201-843-0745
A 666 Fifth Avenue New York NY 10103
E info@kabrgroup.com
www.kushnercompanies.com
www.kabrgroup.com