Real estate developer Jared Kushner, a senior advisor to President Donald Trump, has filed permits for a Morris Adjmi–designed tower in DUMBO, Brooklyn.
The 21-story residential high rise is backed by Kushner’s development firm, Kushner Companies, as well as CIM Group and LIVWRK. The building is planned for 85 Jay Street. Rising to 250 feet, the 874,149-square-foot development will offer 737 apartments, while allocating just over 60,000 square feet for commercial purposes.
According to The Real Deal, the developers bought the $345 million,135,000-square-foot plot from Jehovah’s Witnesses in December 2016. Those tracking Brooklyn development will know that the same team also purchased the religious organization’s Watchtower offices that same year, shelling out $340 million for the DUMBO property.
New York–based Morris Adjmi has worked with Kushner in the past. Adjmi designed 30 Journal Square complex in Jersey City for Kushner Companies this year, a project that will be Adjmi’s largest in the New York metro area. Another one of Kushner’s properties in the vicinity, however, is not fairing quite so well. One Journal Square, a mixed-used project designed by Woods Bagot is looking for funding via the controversial EB-5 investor visa program. Kushner reportedly looked to Chinese investors to plug the gap left by prospective tenants, WeWork, who took several million dollars of investment and tax breaks with them on their departure.
Despite the funding setback, One Journal Square is still on course to start construction early next year.