Developer and restaurateur Adenah Bayoh (second from right) joined other stakeholders on April 7 to mark the opening of a new IHOP restaurant at 915 Broad St. in Newark. Also on hand, from left: New Jersey Community Capital President Wayne Meyer, Invest Newark CEO and President Bernel Hall and Newark Mayor Ras Baraka — Courtesy: Tara Dowdell Group
By Joshua Burd
A developer and restaurateur joined local officials last week to open a new IHOP in Newark, part of a mixed-use project that will also bring 84 apartments to the downtown.
Located at 915 Broad St., the restaurant occupies the ground floor of a building co-developed by Adenah Bayoh, the franchisee. The Irvington-based builder and entrepreneur joined Newark Mayor Ras Baraka on April 7 for a ceremonial ribbon-cutting at the location, her second IHOP in the city and her fourth overall.
Also on hand were Invest Newark CEO and President Bernel Hall and New Jersey Community Capital President Wayne Meyer, whose organizations provided financial support for the project.
“I’m so thankful for the support from Invest Newark, New Jersey Community Capital and Mayor Ras Baraka, who have been incredible partners and champions of small business,” Bayoh said. “The opening of IHOP Downtown Newark in the midst of the COVID-19 pandemic represents what’s possible when Black entrepreneurs have access to capital. We deliver on our promises and we prioritize giving back to the communities that support us.
“The pandemic only worsened existing systemic inequities and shut down nearly half of all Black-owned businesses, which is why public sector funders that work to ensure equity and inclusion, like Invest Newark and New Jersey Community Capital, are so crucial. If we are to finally break free of this recession we need to ensure that all businesses have equitable access to capital.”
In a news release, Bayoh said IHOP Downtown Newark will generate up to 40 living-wage jobs for local residents, while providing the community with another accessible and family-friendly restaurant option.
“Adenah continues to be one of Newark’s committed business owners, and the opening of IHOP Downtown Newark as we begin to recover from the pandemic speaks to our city’s strength and resilience,” Baraka said. “My administration is focused on ensuring that our economic development efforts are equitable and inclusive and this new IHOP embodies that commitment. Not only is it part of a larger redevelopment project that includes mixed-income housing that is accessible to Newark families, but it also provides employment opportunities for residents.”
Funding for IHOP Downtown Newark includes a $405,950 loan from Invest Newark, a $523,800 loan from New Jersey Community Capital and $350,000 from the City of Newark’s HOME Invest Partnership Program.
“The IHOP / 915 Broad Street opening is a wonderful sign of equitable economic development for the residents of Newark,” Hall said. “In the shadow of the pandemic, this woman-owned business has successfully opened and is providing jobs and a family eatery in the heart of downtown. Invest Newark continues to help businesses start, expand and flourish.”
Bayoh, who grew up in public housing in Newark and is an alumna of the city’s public school system, saved nearly 50 jobs in 2017 when she purchased the struggling IHOP on Bergen Street in Newark. She also owns IHOP franchises in Paterson and Irvington.
“Thriving small businesses are the heart and soul of Newark’s downtown,” NJCC’s Meyer added. “We believe that projects like this create a sense of place that generates pathways to economic opportunity for the residents of Newark. We are excited to be a trusted partner in driving equitable growth to sustain the vibrancy of the Newark community.”
