WeWork, Kushner mulling WeLive in Jersey City
One Journal Square could become company's third co-living location
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.
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.