N.J. awards $93M in tax breaks to Journal Square tower
By Terrence T. McDonald | The Jersey Journal
on November 13, 2015 at 3:39 PM, updated November 13, 2015 at 3:51 PM
The state Economic Development Authority today approved $93 million in New Jersey tax credits for One Journal Square, the high-rise proposed for a long-vacant lot adjacent to the PATH transportation hub in Jersey City.
The $205 million high-rise, which could house up to 744 residential units, will receive $34 million in tax breaks over 20 years. A separate tax break totaling $54 million over 10 years will go to WeWork, the trendy office space provider that will be a tenant in the tower's 101,000 square feet of office space.
http://www.nj.com/hudson/index.ssf/2...rt_2box_hudson
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