By Real Estate NJ
Public officials and business leaders broke ground Wednesday on the next phase of a project to expand Newark’s Riverfront Park, a plan that calls for a boardwalk, walkway system and other amenities to connect the Passaic River to the city’s downtown.
The nearly $8 million investment represents the third phase of the project and will also create a fitness zone, space for open-air events and a link under the Jackson Street Bridge, according to the state Department of Environmental Protection. The agency is providing some $6.3 million of the project cost, while the balance is coming from other public and private sources such as Horizon Blue Cross Blue Shield of New Jersey.
The DEP funding will go toward the park construction and remediation of contaminated dirt that was moved to the waterfront decades ago, the agency said in a news release. The last use of the park development area was the Balbach Smelting and Refining Works.
The project is expected to be completed in about a year.
For more, see Wednesday’s story by NJBIZ.
More New Jersey real estate headlines
Bond sale to fund Stockton’s Atlantic City campus complete (NJ Advance Media)
Reveal for two-story, 24-unit supportive housing project at 93-101 14th Avenue, Newark (New York YIMBY)
Hoboken to spend $30M to buy land for city’s largest park (NJ Advance Media)
Editor’s note: The Rundown is a regular feature by Real Estate NJ in which we recap commercial real estate stories and headlines from across the state.
