Residential & Mixed Use
Making a market: Developers, city officials look ahead as renters arrive in downtown Newark

A new stock of luxury, market-rate apartments is beginning to take shape in downtown Newark, where stakeholders hope to attract the type of rental population that can create a 24-hour, seven-day neighborhood that has long eluded the central business district.

Developers say they’re encouraged by the early returns, but are preparing for the market to be tested by larger-scale projects and an influx of additional units. City officials are also preparing for what could be a dramatic uptick in interest from builders — which they will have to balance with public policy goals such as expanding affordable housing for Newark residents.

Editor’s Note
Taking cues

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.

Retail
Developers, city officials mark grand reopening of historic Hahne’s building in Newark

It was around 2013 when developers first pitched the idea of creating a dynamic, mixed-use destination at the iconic former Hahne & Co. department store in downtown Newark. But it’s fair to say that, for thousands of city residents, the project was 30 years in the making.