Real estate firm owned by family of Trump’s son-in-law withdraws request for New Jersey tax break

Firm is seeking Chinese investors to a project in New Jersey

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A projector screen shows a footage of US President Donald Trump as workers wait for investors at a reception desk during an event promoting EB-5 investment in a Kushner Companies development, at a hotel in Shanghai, China, on Sunday, May 7, 2017. The company is seeking Chinese investors for a project in New Jersey. Photo: AP

Published: 12:58am, 16 Jun 2017Updated: 12:58am, 16 Jun 2017

Ties to the White House may ultimately help the Kushner Cos, but recent trouble in a New Jersey city suggests they can hurt a bit, too.

The real estate firm owned by the family of Jared Kushner, the son-in-law of US President Donald Trump, has withdrawn a request for a big tax break for one its building projects in Jersey City, New Jersey, city spokeswoman Jennifer Morrill said Wednesday. Opponents of such breaks marched in front of another Kushner property in the city earlier this year and the mayor recently came out against the company’s request.

The company had sought a 30-year break from city taxes for the planned building, called One Journal Square, a proposed two-tower complex in a struggling section of the city. The Kushner Cos is also seeking breaks from state taxes.

Jared Kushner was CEO of the family company before stepping down to become a senior adviser to his father-in-law, President Trump.

Jared Kushner, son-in-law and senior adviser to US President Donald Trump, attends a cabinet meeting at the White House in Washington, DC. Photo: AFP

Kushner Cos spokesman James Yolles said the company is committed to the “much-needed investment” in that area of the city. The loss of the tax break is the latest blow for the company in a city where it is a major real estate developer.