A sprawling studio complex is coming to the former site of a Newark public housing complex, under a $125 million project unveiled Tuesday by its development team and public officials.
I try to walk a fine line when reporting on legislation and public policy proposals that may or may not come to fruition. Among them is the push to legalize recreational marijuana in New Jersey, which always seemed somewhat imminent under Gov. Phil Murphy, but still took several years and a voter referendum to become reality.
A series of high-profile development projects are poised to infuse three of Newark’s cultural anchors, while helping to advance economic growth in and around the downtown.
A gleaming 22-story apartment tower in Newark that opened in 2018, marking the city’s first ground-up, luxury high-rise in more than 50 years, is on the market for sale.
As developers continue to invest in downtown Newark, the city is attracting both new residents and businesses. That makes it all the more important to create amenities and spaces that will bring permanent foot traffic during the day and at night, which has become a growing focus for both public- and private-sector leaders in the state’s largest city.
Commercial real estate faces no shortage of disruptive forces, a panel of industry leaders told NAIOP New Jersey last week, citing everything from ridesharing services and automation to changing corporate and consumer preferences.