Page 20 - RE-NJ

18 FEBRUARY 2025
Th Th h h h he e e e e Ba B B B llantine has opened at 80 Freeman St. in
Newa ark rk rk rk rk rk rk rk, fo f rmer br br br br br b br b b in in n in in n ingi gi g gi g g g gi g ng ng n ng ng ng ng g g Balla a a a a a a ant nt nt nt nt nt nt nt tine 280 apartments to a piece of Brewer r r ry y y y y y pr pr pr pr pr pr prop op o op op op op p per er e er er er er rty ty ty ty ty ty ty.
the
Courtesy: Shorewood Real Estate Group
BUZZWORTHY
Apartments bringing new life, new future to
Newark’s historic Ballantine Brewery site
By Joshua Burd
has unveiled a collection of
S horewood Real Estate Group
280 apartments in Newark’s
Ironbound section, bringing a new use
to the once-iconic Ballantine Brewery
site and setting the stage for additional
projects in the historically industrial
neighborhood.
The fi rm, which partnered with Bridge
Investment Group, joined city offi cials
on Jan. 15 to open the property after
the $88 million redevelopment at 80
Freeman St. Known as The Ballantine,
the six-story building was slated to
hit the market in February, as the
developer looks to lure renters with
its upscale amenities, accessibility
and proximity to the Ironbound’s vast
cultural and culinary scene.
The complex also pays homage to
the Ballantine Brewery, which was
founded in 1840 and operated at the
site until 1972.
“The Ballantine marks an important
chapter in
Newark’s growth,
thoughtfully
integrating the
site’s historic
signifi cance
with a modern
vision for the
Ironbound’s
Larry Davis
northern
edge,” said Larry Davis, CEO of
Shorewood Real Estate Group. “As
our inaugural project in Newark,
we saw an opportunity to revitalize
a once-prominent but underutilized
property into an extension of the
neighborhood, providing residents
with a contemporary living experience
rooted in local character.”
Davis noted that Shorewood acquired
the site in 2019 with a vision of
transforming the neighborhood. The
Manhattan-based fi rm has followed
through with the help of the federal
Opportunity Zone program, which
provides tax benefi ts to encourage
long-term investments in underserved
areas, delivering the new rental
property with affordable housing and
plans for a second phase next door.
The developer also thanked the “army
of people” that helped complete The
Ballantine, including Minno & Wasko
Architects and Planners and landscape
architects Melillo Bauer Carman, as
well as Langan and Santander Bank.
He also gave a special mention to
March Associates Construction, the
project’s construction manager, noting
that “Lou March and his team have
done an incredible job here, building
something on time, on budget.”
City offi cials were equally crucial, he
said, adding that “this truly is a public-
private partnership and shows you
that, when people work together, great
things can happen.” They included
Allison Ladd, Newark’s deputy
mayor for economic and housing
development, who was on hand for the
ribbon-cutting ceremony and praised
Davis for aligning with the city’s own