Newark’s dedicated blue-chip employers and anchor institutions have virtually all expanded or made commitments to grow, leading to billions of dollars’ worth of new commercial development. It’s a major reason why developers believe the time is right to, once and for all, bring new market-rate apartments to Newark’s central business district.
An investment group has largely completed its conversion of the former New Jersey Bell tower in Newark, marking the restoration of a historic landmark and the addition of new market-rate and affordable housing options to the city’s downtown.
A development group has nearly completed its restoration of a landmark tower in downtown Newark, where it will soon debut 265 apartments and a mix of new commercial space.
Having started my commercial real estate career in Newark, New Jersey in the late 1980s, I’ve had a front row seat to the evolution of The Brick City, and specifically the strides taken by the community toward enhancing the soul of the downtown area. What was once a city centered largely around Newark Penn station, the region has experienced new growth, particularly northward and westward toward the Broad Street corridor. Additionally, while improvements over the past two decades were slow, but steady, the past five years have seen a more intense ramp up in activity.
A high-profile redevelopment project in Newark was honored Friday before a crowd of more than 500, winning an annual award from the United Way of Northern New Jersey.
A joint venture has started construction to restore a historic office tower in downtown Newark, with plans to create 265 apartments and 80,000 square feet of office and retail space.
A financial technology firm will relocate to Newark from Manhattan later this year, following an 8,000-square-foot lease at the historic Hahne & Co. building downtown.
A developer has unveiled plans for an $80 million luxury apartment project in Newark, touting a 256-unit tower that will offer “resort-style living” in the heart of the city’s downtown.