Due to a lot of pressure from the public, Jared Kushner’s real estate firm, run by his family, has withdrawn an application for a large development in New Jersey. The Kushner Companies was trying to get a 30-year tax break for an enormous two tower project, One Journal Square in the Jersey City area, Jennifer Morriell, city spokeswoman shared on Wednesday.
Earlier this year, the project was brought to light and protesters marched against it. It has also been reported that the city’s mayor, Steven Fulop, has been against the project as well.
Before stepping down to become President Donald Trump’s senior adviser, Kushner was the CEO of the Kushner Companies. The company is the major real estate developer in Jersey City, and enjoy huge tax breaks by building in impoverished areas.
Kushner’s sister, Nicole Kushner Meyer was in Beijing, trying to attract Chinese investors, at least 300 of them, when she referred to the “celebrity status” of her family. It is proof that Kushner is just trying to profit from his connection to the White House. The Kushner Companies was forced to cease further investor presentations due to the fact that Government ethics experts refused to put up with the company’s unscrupulous practices.
The official statement from the Kushner Companies is that politics had nothing to due with their recent withdrawal from the project, One Journal Square, however it has received so much negative press and not a lot of support from Kushner’s Washington cronies one has to wonder if that’s entirely true.
The Kushner Companis owns and manages 20,000 apartments, along with millions of square feet of office and industrial properties in many states, New Jersey and New York included. A 50 story building overlooking the Hudson River received a tax break for 5 years and was financed by a lot of wealthy foreign investors. That building bears the name, Trump Bay Street. Kushner wants us to believe that he isn’t using his White House connection for profit while he continues to slap the Trump name on his family’s projects.