The groundbreakings continue across our footprint. As of this writing, we have five developments under construction. 2,800 units are in Jersey City, East Hanover, and Fair Lawn, New Jersey. 1,300 units are in South Florida: 1900 and 2000 Biscayne in Edgewater. We also completed our first mixed-use multifamily project in Wynwood where tenants reside. More groundbreakings in New Jersey and Florida will come in 2023 resulting in 2,600 additional units.
In keeping with our longtime business ethos, which places a premium on construction with integrity and higher purpose, each project we tackle is not just a property—it’s a way to cultivate, develop and bring lasting value to the communities around us.
Bringing projects to close is a critical part of our success equation. In the Southeast, which continues to perform well, we closed on 1,503 units in Alabama, Mississippi, Kentucky, North Carolina, Louisiana, and Oklahoma. These acquisitions give Kushner a presence in 13 states. And as always, our expansion continues, so stay tuned for more news on that front in the coming year.
Over the past 12 months, our relationships with retail tenants also gained strength as well as velocity. Flagship tenants Whole Foods and Target are now a part of our largest New Jersey developments, and in the third phase of Pier Village, one of our crown jewels on the Jersey shore, we welcomed Starbucks and other retailers with local followings.
None of this would have been possible without our amazing operating and development teams, which are still expanding along with our footprint. In 2022, we welcomed Jennifer Nellany as General Counsel, as well as Rafi Schwartz as Vice President, overseeing our Florida development and construction. We also added other talented new members to our teams in New York, New Jersey, and South Florida. Altogether, the Kushner family of employees now stands at more than 1,000, reflecting our growth as well as our ever-expanding roster of opportunities across this great land.
In closing, it’s truly been an amazing year. And while our go-forward prospects look very promising, we also can’t say that we’re surprised: Kushner is a company that dreams big and executes even bigger. That’s been our hallmark for almost 40 years. As we continue to navigate our way around the post-pandemic world, we are as optimistic as ever about the future of our business.
Sincerely,
Laurent Morali, Chief Executive Officer & Nicole Kushner Meyer, President
