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Thread: Newark Development

  1. #9436

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    I do not know if anyone has been on Halsey St. lately, but it seems as if there is a new coffee shop opening up next to Jimmy John's.

  2. #9437

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    The project to convert the former Verizon building into market rate residential (with 20% affordable units) is moving forward. It received approval from the planning board in June and the City Council approved the affordable housing tax abatement on August 3rd. L+M Development Partners and Prudential Financial are behind this project along with the Hahnes redevelopment already underway.

    http://www.placenj.com/2016/08/devel...-building.html


    The City Council also approved a 3 year lease for $1.00/yr for a police substation at 494 Broad Street. At least there is some tangible evidence that the police substation near NJPAC might soon move to make way for the long stalled residential tower.

  3. #9438

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    Be still my heart...

    http://www.newarkpulse.com/news/deta...erns-expansion

    You may have seen some construction activity at the vacant Blimpie building on Washington Street across from the Rutgers-Newark campus. We can report there will NOT be a new restaurant or business coming but McGovern's Tavern will be EXPANDING. They'll break through the walls of their current location for a bigger and better McGovern's experience and a very large bar area. More details to follow.

  4. #9439

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    Lol did you own a home at 19? You are being ridiculous. Let him live.
    Quote Originally Posted by nignog View Post
    Proud of what?!?? That he escaped newark and never came back? If newark so wonderful why is everyone trying to get out? Why dont celebrities buy homes in newark!?! Because its largely a ghetto with very small pocket of areas that are nice due to corporations bringing middleclass people in and very good colleges. Buta few blocks away this nonsense is going on https://youtu.be/eD9l1BAmVz4


    http://www.liveleak.com/view?i=cd7_1463800406
    https://youtu.be/A3jsUAyiVQo

    http://www.liveleak.com/view?i=c22_1451689712 her blessing for never working a day in her life comes from the taxes we all pay

  5. #9440

    Default Newark Update August 5th

    A large update from 2 Fridays ago.
    http://urbanismvsmodernism.blogspot....l?view=sidebar

    NJIT Events Center

















    NJIT Integrated Sciences Building









    NJIT Central King Building









    Rutgers Life Sciences II













    Rutgers Honors Housing site
    Interior demolition was underway, hence the dust. The rest of the site was still active parking.

    Hahne's Building









    Halsey Street Retail



    127 Halsey Street (Halston Flats)



    165 Halsey Street further renovations



    114 Market Street partial demolition proposed
    The enormous rear theater section will likely be removed. Hopefully a nice highrise residential building will sprout out of it and the preserved frontage.

    199 Halsey Street surface lot repaving

    RBH Four Corners site





    New Store at 857 Broad Street replacing an old nail salon

    Teachers Village













    999 Broad Street

    367 Washington Street has started
    6 story 166,500 square foot Uncommon Schools charter school

    Edison Properties Mixed Use project

    New lobby in 3 Gateway Center



    11 Union Street



    420-428 Market Street
    Hopefully this horrifying space waster will be short lived. It is just 1000 feet from the Newark Penn Station!







    40 Rector Street




    The wood entry gate is new instead of the metal seal.

    1-15 James Street
    Audible.com church-to-office renovation



    238-240 MLK
    Still no progress despite a groundbreaking ceremony.

    Since when did Newark get the 5 section Light Rail trains?!





    Work appears to have started on the renovation of the oldest wing of St. Michael's Hospital.

    New restaurant at 1 Sussex Avenue
    http://urbanismvsmodernism.blogspot....l?view=sidebar

  6. #9441

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    It looks like 2 Theater Square has raised the majority of its financing. On July 7th, the City Council passed a resolution authorizing a loan not to exdeed $11.83m to the redeveloper. The resolution states that the redeveloper raised the majority of the money for the project and mentions Fifth Third Bank, Prudential and the City of Newark (through the EDC) as other creditors. No date of course for breaking ground, but with the police station moving to 494 Broad Street (I mentioned earlier that the City Council approved that lease), hopefully it is drawing near.

    https://newark.legistar.com/Legislat...ter&FullText=1

  7. #9442

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    In Newark, a New Chapter Unfolding

    By RONDA KAYSEN AUG. 19, 2016



    Military Park serves as a green oasis in downtown Newark’s business district. CreditAlex di Suvero for The New York Times

    In Newark’s Central Ward, not far from the site of the 1967 riots, a market-rate rental building opened earlier this year with 152 apartments and its name, 24 Jones, emblazoned in cheerful orange lettering on the blocky, colorful facade. Promotional materials invite prospective tenants to “come to a place where everything is possible.”

    What, exactly, is possible in Newark? That is the question driving this next chapter of the city’s history. With about $2 billion in commercial and residential development underway, 1,500 units of housing are under construction and another 4,000 are planned, according to the city’sdepartment of economic and housing development. Corporate dollars have poured into the city in recent years. Since 2008, Goldman Sachs has invested $500 million in the city, and Prudential Financial, which is based in Newark, has invested $368 million.

    Vacant lots are being redeveloped, like the 11-acre parcel that now houses 24 Jones, which is the residential piece of a $94 million project called Springfield Avenue Marketplace that also includes a ShopRite and other stores. Forsaken buildings are being renovated, such as the 1901 Hahne & Company department store, which had been a grand shopping destination until it shut in the 1980s, languishing downtown ever since, a hulking testament to how far the city had fallen. By next year, a $174 million restoration will transform the structure into 160 apartments, a cultural center for Rutgers University and a Whole Foods Market.

    “This is the largest city in the state and for too long it’s been hamstrung by people’s discomfort with its reputation,” said Jonathan M. Cortell, the vice president of development for L & M Development Partners, which owns the Hahne’s building with other partners. “And now, maybe it’s premature to start calling it a rising star, but there’s positive action happening here.”


    The former Hahne’s department store is undergoing a restoration that will transform the structure into 160 apartments, a cultural center for Rutgers University and a Whole Foods Market. CreditAlex di Suvero for The New York Times

    Developers are certainly betting on the city, like Lotus Equity Group, based in New York, which recently bought Bears Stadium in Newark to build a mixed-use project.

    But Newark cannot simply build its problems away. Nearly a third of the city’s residents live in poverty, according to census data, while crime is high and many of its schools are failing. One of the city’s biggest assets — available land — is also a liability, as there is no shortage of vacant lots and abandoned parcels across the city. The city also faces redevelopment challenges that are different from those in neighboring cities like Harrison, Jersey City and Hoboken, which have tied their fortunes to Manhattan by enticing New York commuters with promises of cheaper housing and a quick ride to the city.

    “Newark’s not trying to be the next Brooklyn, or the next Jersey City,” said Baye Adofo-Wilson, Newark’s Deputy Mayor for Economic and Housing Development, adding, “We have our own richness and our own culture here that isn’t just an expansion of Wall Street, but really an expansion of Newark and an expansion of New Jersey.”

    With some 282,000 residents, Newark has an international airport, universities and one of the largest ports in the country. The approximately 15-mile trip from downtown Newark to Midtown Manhattan takes around 20 minutes by train. Getting to New York from other parts of the city can be less direct. Nevertheless, residents in neighborhoods like the Ironbound, a popular destination with shops and restaurants, worry that new growth could drive up rents and push out longtime residents. Ultimately, the city cannot rely on commuters alone, city leaders say. It needs jobs and housing for locals.


    The Hahne & Company department store closed in the 1980s. CreditAlex di Suvero for The New York Times

    “The whole economic development engine of the city had to be rebooted,” said Ron Beit, the chief executive of the RBH Group, which developed Teachers Village, aRichard Meier-designed complex that first opened in 2013 and will be complete later this year. “And that’s what’s happened here in the past several years.”

    The city points to mixed-use developments as part of the solution. The Hahne’s building, a gracious structure with grand staircases, wrought-iron banisters and a 6,000-square-foot atrium skylight, is an example. Whole Foods is expected to bring 200 jobs, and Express Newark, a Rutgers University arts and cultural program, is intended to draw students and faculty into the city. Forty percent of the 160 apartments will be affordable.

    A few blocks away, at 540 Broad Street, L &M Development, in partnership with Prudential Financial, is restoring a 20-story Ralph Walker-designed tower built in 1929 for the New Jersey Bell Telephone Company, and converting it to a 260-unit rental. The architectural firmCetraRuddy was chosen in June to renovate the Art Deco tower, which has marble wainscoting and double-hung windows. Verizon will continue to occupy some space in the building. “We are trying to bring life back to these buildings,” Mr. Cortell said.

    Despite the city’s efforts to build for locals, New Yorkers have been eyeing downtown Newark, where a two-bedroom two-bath apartment in new construction can be had for around $2,400 a month, according to Luis F. Nogueira, the owner of Exit Realty Lucky Associates, based in Newark. “We’re having a lot of overflow from New York and even Jersey City because of the prices,” he said.


    The Ralph Walker-designed tower occupied by Verizon is also being renovated.CreditAlex di Suvero for The New York Times

    At 999 Broad Street, an 87-unit rental that opens downtown this month, New Yorkers from Brooklyn, Harlem and Rockaway have been signing leases. Rents for a one-bedroom with a den start at $1,675 a month. Two-bedrooms start at $1,725 and three-bedrooms at $2,250. “In the past, we’ve had a handful of people apply from New York, but this time it’s much stronger,” said Joseph Portelli, a vice president of the RPM Development Group, referring to previous projects by the company likeRichardson Lofts, which opened in 2012 and attracted mostly New Jersey residents. “There’s a lot of good energy in downtown Newark right now.”

    Some Newark residents worry that the flurry of construction could spell displacement, particularly in the Ironbound. Six hundred units of housing are approved for construction there, according to Joseph Della Fave, the executive director of the Ironbound Community Corporation. The neighborhood, home to immigrants from countries including Portugal and Brazil, is adjacent to Newark Penn Station and bounded by railroad tracks and the Passaic River.

    Renters fear rents could rise and homeowners worry that the changes could alter the fabric of the diverse community.
    “Gentrification always has a beginning and the beginning may not be displacement; it may be part of a market movement,” said Mr. Della Fave, who was a member of the Hoboken City Council in the late 1980s and early 1990s when the gentrification of that city was in its infancy. “It’s not like one day it’s not here and the next day it’s here,” he said.


    The rentals at 24 Jones are close to Rutgers New Jersey Medical School.CreditAlex di Suvero for The New York Times

    Mr. Della Fave and other community representatives are calling for an inclusionary zoning policy to require affordable housing in new developments. Mr. Adofo-Wilson said his office is drafting a proposal for such a policy to present to the City Council.

    At 24 square miles, the city has large swaths that need investment. Springfield Avenue Marketplace, the University Heights project that houses 24 Jones, was designed to revive the intersection where South Orange Avenue meets Springfield Avenue. The project sits close to universities including Rutgers New Jersey Medical School, and Society Hill, a middle-class enclave of townhouses. But Springfield Avenue also traverses areas burdened by crime, drugs and poverty.

    At 24 Jones, 66 of the 152 apartments had rented as of Aug. 17; leasing began in December. Many of the tenants are students or faculty at the nearby universities. Rents rival those downtown, starting at $1,712 a month for a studio; $1,867 for a one-bedroom and $2,217 for a two-bedroom. The project’s developer is offering up to two months of free rent, depending on the apartment, and expects leasing to pick up toward the end of the summer as students return to school. “We expected it to ramp up, which it is doing,” said Richard H. Tucker, the chief executive of Tucker Development, the site’s developer.

    Supporters of the project see its potential to breathe life into the area. The ShopRite, with 380 employees, is bustling.
    Other businesses are now opening in the complex, like Taco Bell, which opened last month. The restaurants Sarku Japan and Huddle House and the women’s clothing store Ashley Stewart will open in the coming months.

    Before the area was redeveloped, “it was just a massive hole on a very important block,” said Margaret Anadu, a managing director of theGoldman Sachs Urban Investment Group, which invested in the Springfield development and other Newark projects, including the Hahne’s building and Teachers Village. The transformation is both symbolic and physical, she said.

    “To walk by commercial activity and jobs and services,” she said, “is a very different experience than to walk by vacant lots.”

    --------------------------------------------------------------------------------------------------------------------

    found on reddit; article from nytimes:

    http://www.nytimes.com/2016/08/21/re...ding.html?_r=0

    ADVERTISEMENT
    Last edited by 66nexus; August 19th, 2016 at 08:48 PM.

  8. #9443
    Forum Veteran West Hudson's Avatar
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    Default

    You'd think Prudential would want to finance as much Newark RE as possible...the sooner the area fills in significantly, the sooner Prudential will see a spike in the value of its RE holdings in the city.

  9. #9444

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    They usually finance the larger projects in some form or other. But I honestly think they want more developers to jump in which we've been seeing lately.

    towerpower awesome pics, of course lol, and keep it up (please ).

  10. #9445

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    Found this one interesting, You can see the NHA working on shifting the agreements that were all triggered by triangle park. Kudos to Essex county place for pushing the issue and getting the NHA to post their minutes: http://www.placenj.com/search?update...max-results=10
    http://www.newarkha.org/about_transparencyreports.php

  11. #9446

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    Development Picks up Outside of Newark’s Core

    By
    Jared Kofsky -

    September 12, 2016



    In the most recent U.S. Census, Newark’s population grew for the first time since tens of thousands of Newarkers moved to suburbia in the 1950s and 1960s. With new apartment buildings being announced every month, the number of people living in the city will likely continue to rise.

    In the past five years, most new development projects have been in Downtown Newark or in the neighboring Ironbound neighborhood. However, construction on new projects is beginning in several of Newark’s other areas.

    Several new developments are proposed for the Springfield Avenue corridor. According to an agenda for a City meeting, a new “mixed-use development with retail, affordable and market rate housing, and parking” is proposed for 247-251 Springfield Avenue in Springfield/Belmont, between Livingston Street and Irvine Turner Boulevard. The development by Springfield Renaissance will be built on land that was sold to it by the City of Newark for $43,272,92. The go25 bus to Newark Penn Station stops directly in front of the lot.


    269 Springfield Rendering

    Other planned projects along the avenue include a new 30-unit apartment building near South Jacob Street, a 77-unit retail and residential building at 269 Springfield near Boyd Street, 122-unit project at 521 Springfield, and a new building with 54 units called Rita Gardens near the Irvington border. A recent presentation by the Newark Community Economic Development Corporation stated that GS Developers and Queen Latifah were partners in the Rita Gardens project.


    Rita Gardens Rendering


    521 Springfield Rendering

    Nearby, the new Springfield Avenue Marketplace complex, near Jones and Prince Streets, was completed in 2015 by Tucker Development. The center contains a ShopRite supermarket, restaurants, and the new 24 Jones apartment building, which opened this year.

    24 Jones Street

    For decades since the 1967 Newark Riots/Rebellion, the avenue had been lined with unused lots, many of which were owned by the City, but new complexes are starting to change that.

    In addition, according to documents from a recent Newark Municipal Council meeting, a new apartment building is planned for the University Heights section of the Central Ward. The four-story market rate apartment building is proposed for 46 Burnet Street, between James Street and Orange Street. The City of Newark currently owns the lot, but the Department of Economic and Housing Development is recommending that it be sold to a Passaic-based developer for $37,103.52. The resolution states that the properties “are no longer needed for public use”, and that the City “received a proposal for the purchase and redevelopment of the properties from Newark Burnet, LLC” for 25 to 50 units.

    The tract, which is surrounded by the brownstones that make up the James Street Commons Historic District, is currently vacant.

    University Heights is home to the New Jersey Institute of Technology, Rutgers-Newark, and Essex County College. A new building containing apartments and a restaurant was recently completed on Norfolk Street in the neighborhood, and the same developer is in the process of constructing another building where the Armory Tavern once stood.


    -----------------------------------------------------------------------------

    found on newark reddit; article from jerseydigs.com:
    http://jerseydigs.com/development-projects-outside-newark-core/


    -----------------------------------------------------------------------------


    Some of these are close to other areas that have already been developed so they won't necessarily be built as 'islands' we've grown used to. Thus far we've really only seen projects anchoring one another in Teacher's Village and Prudential (though that appears to be changing).
    Last edited by 66nexus; September 13th, 2016 at 04:15 PM.

  12. #9447

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    Always skeptical with this project but I still thought the article was worth posting:

    http://www.nj.com/news/index.ssf/201...r_index_topics

  13. #9448

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    Quote Originally Posted by montycench View Post
    Always skeptical with this project but I still thought the article was worth posting:

    http://www.nj.com/news/index.ssf/201...r_index_topics

    http://www.wsj.com/articles/financin...ars-1473957006

  14. #9449

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    Won't believe it until some steel hits some earth. Until then, it may as well be Shaq's tower 'breaking ground'.


    more on it btw:

    http://www.njbiz.com/article/2016091...-developer-say

  15. #9450
    Forum Veteran West Hudson's Avatar
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    Default Another False Groundbreaking...

    Quote Originally Posted by 66nexus View Post
    Won't believe it until some steel hits some earth. Until then, it may as well be Shaq's tower 'breaking ground'.


    more on it btw:

    http://www.njbiz.com/article/2016091...-developer-say
    Same here. No signs whatsoever of construction (or even of demolition of the police headquarters at the corner of Park Place and Center Street for that matter...that building is still being actively used). Photos from earlier this afternoon:







    About a year ago there was a second ground breaking for the Shaq tower, which similarly claimed to have its financing lined up. About a month later the city voted to throw in $2 million of parking revenue to get the project started lol...of course, today that project is still stalled. Maybe ground breaking #3 will happen in Oct 2017?
    Last edited by West Hudson; September 17th, 2016 at 03:16 PM.

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