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Thread: Newark Development

  1. #2476

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    Speaking of 1180, on the radio I heard that Bank of Amer was holding off a large collection of foreclosures b/c of inadequacies, any word?

    Plus...I don't think Newark should go luxury before it gets a decent collection of 'regular' (non-affordable housing...sigh). 1180 was a nice toss-in, but downtown lacks any significant residential presence to go luxury from the get-go.

  2. #2477

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    Quote Originally Posted by 66nexus View Post
    I did, those pics I posted earlier were to compare the pic you provided of the Bowers from the 70s. there seems to be a gallery at the base on the right (wasn't sure about the left). You live much closer to downtown than I do so you would know if they're still empty before I would.
    Smoke and mirrors. Go find some more articles pls. The 8 brand new foreclosures listed in Zillow for Renaissance Towers on market and mulberry sure tells me the middle class is racing to get back into downtown Newark. Thats WITH a 2 bedroom asking 160k and still no takers. That is 800 a month as opposed to renting in 1180 for 1300 the cheapest and STILL no takers.. gee the demand is SCORCHING HOT!!

    http://www.zillow.com/homedetails/0-...31254109_zpid/

    And on the market for only 100 days?!?
    Last edited by block944; October 3rd, 2010 at 07:21 PM.

  3. #2478

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    Quote Originally Posted by block944 View Post
    Smoke and mirrors. Go find some more articles pls. The 8 brand new foreclosures listed in Zillow for Renaissance Towers on market and mulberry sure tells me the middle class is racing to get back into downtown Newark.
    Foreclosures means tenants/dwellers not paying their monthly's. That is not directly associated w/ demand. There is a such thing as people unable to continue living in places they can no longer afford.

  4. #2479

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    There are foreclosures in many places in NNJ, that doesn't mean people don't want to live there.

  5. #2480

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    Quote Originally Posted by block944 View Post
    Smoke and mirrors. Go find some more articles pls. The 8 brand new foreclosures listed in Zillow for Renaissance Towers on market and mulberry sure tells me the middle class is racing to get back into downtown Newark. Thats WITH a 2 bedroom asking 160k and still no takers. That is 800 a month as opposed to renting in 1180 for 1300 the cheapest and STILL no takers.. gee the demand is SCORCHING HOT!!

    http://www.zillow.com/homedetails/0-...31254109_zpid/

    And on the market for only 100 days?!?
    So now you specialize in spinning arguments?

    I invite you to list when/where I EVER said downtown Newark demand is "scorching hot".
    And that's AFTER my above posts in which I clearly state Newark doesn't even have enough downtown housing.

    In this housing bubble RENTING is much better preferred for obvious reasons like: no property tax commitment, no long term dollar commitment in an uncertain financial environment.

    http://www.nj.com/business/index.ssf...ery_appea.html

  6. #2481

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    This guy is so hard on newark. you have crime and ghettos in every city in the united states and it didn,t stop redevelopment in those cities, as a matter of fact crime,violence exist every where in the world where there is poverty.

  7. #2482

    Lightbulb

    I truly 100% agree for example there is a part in atlanta's downtown where you go from nice buildings and stores to the ghetto were thugs are in the projects. but newark needs to start doing a new format to attract more people to downtown and creating a semi safe enviornment with good stores just as the iron bound has done.

  8. #2483
    Crabby airline hostess - stache's Avatar
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    There's crime and violence in wealthy areas, it's just less in your face.

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  10. #2485

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    The ironbound is ok but you should model areas after boston harbors faneuil hall mkt place.
    Greenwich village and soho nyc good examples. Look @ what they did with 42nd. st nyc.

  11. #2486
    European Import KenNYC's Avatar
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    Quote Originally Posted by stache View Post
    There's crime and violence in wealthy areas, it's just less in your face.
    Amount and severity of the crime is kinda relevant too. Not saying any place is perfect, but some places are better than others, can't be much question about that. And from my experience with Newark, it's pretty bad.

  12. #2487
    Crabby airline hostess - stache's Avatar
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    Absolutely.

  13. #2488
    Forum Veteran West Hudson's Avatar
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    I've lived in Hoboken, downtown Jersey City, and Newark. I can tell you that, to this day, each has it's own areas that are extremely sketchy and would make your typical young suburbanite feel uncomfortable. The question is where is the momentum? Well, you must look at several key factors: where is the state government spending money? where have office vacancies gone down? where have they gone up? What areas have the shortest commute times to the areas of high job growth? Where has crime been falling? by how much? where is "culture" incubating?

    The bottom line is that developers are turning to Newark because of incentives that they can't get in Hoboken and Jersey City, and perceptions and mindsets of buyers are changing. Buyers can't afford the prices developers have been demanding in areas like downtown JC, but these same buyers can afford property in or close to downtown Newark, where there are more public transit options than any other city in the state; more retail options; the largest collection of art-deco architecture NJ has to offer; a growing arts scene that is starting to make up for Jersey City's failures in this arena; and entertainment options that you won't find in Hoboken or JC.

    There have been plenty of foreclosures in ritzy Hoboken in the past year, so I'd like to hear what is to happen to Hoboken if a few foreclosures sprouting up in Newark mean its renaissance has hit a brick wall.

  14. #2489

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    New Jersey Nets

    The Nets began to roll out its latest billboard campaign Wednesday, placing giant figures of Nets players and Avery Johnson on sides of Newark's tallest buildings.

    A towering figure (100' x 150') of Brook Lopez is already on side the IDT Building at 520 Broad Street, with the tagline "Experience Something Big." Devin Harris will be showcased on the Robert Treat Hotel. with the tagline, "Experience It" and Johnson, Lopez, Harris, Troy Murphy and Derrick Favors will stand on the 494 Broad Street building along with "Experience Newark's Newest Residents."

    On Wednesday, Terrence Williams got first-hand experience in how easy it is to get to the Prudential Center from Manhattan ...and his very first train ride ever.
    "We are in Newark, we are ready to play, and we want fans to experience Nets Basketball," said Brett Yormark, in explaining the marketing promotion.

    http://www.netsdaily.com/2010/10/6/1...yline#comments

    (thanks to njdev guys for finding it)

  15. #2490

    Talking Good!!!!

    just 2 years ago newark only had the devils look it now WOW that is really cool to finally have the nets in newark plus we have another major lead basket ball team in newark and the devils, Newark is doing okay lets see where it will be in another 2 more years or maybe even next year.

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