Kushner Sets Opening Timeline for Jersey City’s Newest Flagship Journal Square
Long Branch, NJ
Wave Spa Condos is a luxury 39-unit beachfront development at 180 Ocean Avenue in Long Branch, New Jersey, developed by Kushner Companies. It is the fifth and final phase of Pier Village, one of New Jersey's premier oceanfront destinations.
The project has received I-956F approval from USCIS, and investors in the project have obtained I-526E and I-485 approvals.
Every residence offers Atlantic Ocean views and access to premium amenities, including an ocean-facing infinity-edge pool with a landscaped terrace, an amenity deck, exclusive private beach access, a lobby lounge with doorman, and full use of the Wave Resort and Pier Village dining, retail and entertainment offerings.
Just one hour from New York City, Pier Village attracts more than 2.3 million visitors a year and comprises 735 luxury residences and over 170,000 square feet of oceanfront retail, with year-round events and a prime beachfront setting. With only 39 residences, ownership in the building is limited.
The project carries a total cost of $138.4M, a projected sellout of $171M, and is raising $24.8M in EB-5 capital across 31 investors. Projected job creation of more than 748 jobs represents over 24 jobs per investor, against a program requirement of 10. The resulting surplus of 438 jobs is 141% above the required total.
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