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Thread: Newark Development

  1. #9481

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    Quote Originally Posted by Newarkguy View Post
    Those buildings are deep & go all the way to Edison street. I believe this is a REAR EXPANSION behind Novel Burger & Krauser's.
    oh.so.where.brickcity.used.to.be

  2. #9482

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    Quote Originally Posted by section08 View Post
    That article confused the hell out of me. AFAIK, Mercato's has some kinda ownership already of (214 Market) Novelty Burger? 216 Market is Krauszer's, 218-220 is Redd's. So what does this all mean? I have no idea.
    I passed by it today. its between Redds and Krauszers

  3. #9483

  4. #9484

  5. #9485

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    Thanks for clarifying the article I posted earlier folks (I didn't realize how confusing it was until you guys mentioned it).

    More on the NJPac tower:

    http://www.njbiz.com/article/2016111...square-project

    http://www.nj.com/essex/index.ssf/20...art_river_home

  6. #9486

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    Another groundbreaking, hopefully the last
    Last edited by taxmanic; November 15th, 2016 at 07:31 AM. Reason: duplicate link

  7. #9487

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    Another Office Building in Newark Could be Converted into Residential Use

    By
    Jared Kofsky -

    November 8, 2016 0

    via Google



    The Kislak Building has stood across from the First Baptist Peddie Memorial Church at 579 Broad Street, at the southwest corner of Central Avenue, in Downtown Newark since 1960, according to the National Park Service. The five-story building, known for the ‘Kislak’ signs posted on both sides of the building, is named for The Kislak Company, a regional real estate organization. It previously contained offices, but has recently been used for art exhibitions as part of events like Open Doors Newark.

    Now, the building, which is currently owned by Eminent Investment Group, is slated for rehabilitation. Redmellon 579 Holdings, LLC is planning to convert the Kislak Building, which is within the Military Park Commons Historic District, into 48 residential rental units with 5,591 square feet of retail space on the ground floor. The developer, Redmellon Restoration and Development is based in New Orleans, Louisiana, and this is the company’s first project in Newark.

    “I believe in the future of Downtown Newark”, company founder Neal Morris said in an interview with Jersey Digs, adding that he is excited about the nearby Hahne and Company redevelopment project, and that he is waiting to close on the Kislak Building. The project went before the Newark Landmarks and Historic Preservation Commission on November 2nd, and Morris expects it to go before the Newark Central Planning Board by the end of the year.

    Although some buildings in the surrounding neighborhood, such as the Hahne’s Building and the New Jersey Bell Headquarters Building, are also being rehabilitated, some neighboring buildings still remain vacant. The 14-story Griffith Building, a few doors down the block, once was the headquarters of a piano company, but has been unused for decades. 595 and 601 Broad Street also are vacant, and no development plans have been announced.


  8. #9488

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    ^^

    I did a proforma and investment analysis for this building a few years ago. At the time, the asking price was over $4 million and Newark rents weren't high enough to make the venture profitable. We also had fewer units (25) and retail on the ground floor. Not sure how they are going to fit 48 units unless they are doing an addition or acquiring an adjacent property (or the units are going to be very small.) Glad to see it moving along though. It's a good location.

  9. #9489
    Crabby airline hostess - stache's Avatar
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    Is this a mid-century building or an older one with a remodeled facade?

  10. #9490
    Forum Veteran Newarkguy's Avatar
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    I guess Boraire was waiting to see what would happen with Dranoff.
    Monkey see,monkey do.
    Its about time!!! RECTOR STREET seems to finally be on its way.
    It'll be good advertising for the city to see two Click image for larger version. 

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ID:	18289towers rising simultaneously.

  11. #9491
    Forum Veteran West Hudson's Avatar
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    Quote Originally Posted by Newarkguy View Post
    I guess Boraire was waiting to see what would happen with Dranoff.
    Monkey see,monkey do.
    Its about time!!! RECTOR STREET seems to finally be on its way.
    It'll be good advertising for the city to see two towers rising simultaneously.
    This is phenomenal news. And it makes perfect sense – each tower will benefit from the presence of the other as together they form a “sub-community” of luxury apartments. It wouldn’t have been good for business to have just one tower in that neighborhood that would’ve been lightyears nicer (and more expensive to rent in) than anything else there. This reminds me of how in 2005 Grove Pointe and 50 Columbus were being built simultaneously around the Grove Street PATH station in Jersey City, in what was then considered to be an edgy/sketchy neighborhood.

  12. #9492

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    I still don't think a place like this being built next to the welfare office is a good idea, unless they're moving.

  13. #9493
    Forum Veteran West Hudson's Avatar
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    Quote Originally Posted by Marv95 View Post
    I still don't think a place like this being built next to the welfare office is a good idea, unless they're moving.
    I have a feeling the welfare office will be moving. And I’d also be surprised if the city & developers haven’t worked out a deal with the church next to NJPAC to relocate their soup kitchen to another spot in the city.

  14. #9494

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    Marcus Samuelsson believes in Newark. http://www.wsj.com/articles/marcus-s...ant-1480461610

  15. #9495

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    Restoration Begins on Newark’s Bonnell Building

    By
    Chris Fry -

    November 21, 2016



    Bonnell Building | via GoogleAnother historic but neglected building in one of New Jersey’s oldest stretches of downtown is getting a facelift, bringing more residential units plus some revitalized retail back to the heart of Newark.

    The latest sign of downtown’s rebirth will see the restoration of the Bonnell Building at 196-198 Market Street, which was built in in 1895. The seven-story building was designed by local architect Thomas Cressey, who had a tremendous influence on Newark’s early development and was a charter member of the New Jersey Chapter of the American Institute of Architects.



    Born and trained in England, Cressey settled in Newark after immigrating to America and maintained a professional office in the city until his death in 1909. Many of Cressey’s architectural designs influenced buildings that still stand today along Market and Broad Streets.

    Despite the condition of the Bonnell Building, the structure is a great example of late nineteenth-century architecture; a classically decorated cornice graces the top of the structure, which also features an attic with round-arched windows. While modern times have seen the building boarded up, it was home to Harriman & Company, an investment bank, when it first opened up around the turn of the 20th century.

    The building will be finding new life soon. Last November, Brick City Reconstruction won approval from Newark’s Central Planning Board to revamp the property into eighteen apartments and to construct a new addition on the rear of the building. Scaffolding went up at the property back in October and restoration work has begun at the site.

    The revamp of the building, which was drawn up by architect Paul Giammona, will leave the two storefronts on the ground floor intact, which total about 18,000 square feet. The exterior of the building will remain preserved and undergo facade cleaning and brick repointing, while the apartments at the property will be getting new windows and doors.

    The Bonnell Building falls under the Four Corners Historical District, which was placed on the National Register of Historic Places back in 2000. Several buildings in the district, especially those on Market Street near the Prudential Center, have undergone facelifts in recent years. Many of the revamps have changed the downtown landscape by bringing residential units to an area long considered a 9-to-5 business district and include the Columbia Building, now home to apartments and a Dinosaur BBQ outpost.



    Columbia Building
    Brick City Reconstruction has experience working on several other restorations in the Four Corners District, including the conversion of the National State Bank building at 810 Broad Street into the Hotel Indigo. Their latest effort bringing the Bonnell Building back to life should finish up sometime late next year.
    -----------------------------------------------------------------


    https://jerseydigs.com/restoration-b...nell-building/

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