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Thread: Newark Development

  1. #9871

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    the article says midrise which in Newark means what--8 to 10 stories at best?

  2. #9872

  3. #9873
    Forum Veteran West Hudson's Avatar
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    ^ That project won't happen anytime soon without enormous subsidies from the state and/or city. Way too far from major transit hubs and outside of gentrifying areas. Unfortunately I think we've entered the "pipe dream" phase of this development cycle and we're seeing tons of pie-in-the-sky proposals that will never get built.

    Heck, it's been almost TWO YEARS since Lotus Equities closed on the Bears stadium site and they haven't even started preliminary demolition yet...and that site is both by the river and adjacent to one of the best commuter rail stations in the state (i.e. one of the most desirable sites in Newark).

    That being said, my guess is that the next tower to actually come to fruition would be something near NJPAC or Penn Station by one of the developers who've already built in the city. That would include the Boraie/Shaq tower next to Ironside, 560 Broad, or a second NJPAC tower.
    Last edited by West Hudson; July 21st, 2018 at 02:50 PM.

  4. #9874

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    Quote Originally Posted by West Hudson View Post
    ^ That project won't happen anytime soon without enormous subsidies from the state and/or city. Way too far from major transit hubs and outside of gentrifying areas. Unfortunately I think we've entered the "pipe dream" phase of this development cycle and we're seeing tons of pie-in-the-sky proposals that will never get built.

    Heck, it's been almost TWO YEARS since Lotus Equities closed on the Bears stadium site and they haven't even started preliminary demolition yet...and that site is both by the river and adjacent to one of the best commuter rail stations in the state (i.e. one of the most desirable sites in Newark).

    That being said, my guess is that the next tower to actually come to fruition would be something near NJPAC or Penn Station by one of the developers who've already built in the city. That would include the Boraie/Shaq tower next to Ironside, 560 Broad, or a second NJPAC tower.
    Did the article mention who the developer is? Unless I missed it, there's a possibility that the developer may already be established in the city. Also, isn't that site next to the proposed "Vibe Apartments" development? If so, between Vibe, Teacher's Village, and the smaller infill developments like William Flats, there is some critical mass of gentrification in that area. It's also just a couple blocks away from the Prudential Center, Marriott and Indigo Hotel, so it's not an area completely void of development. Lastly, isn't that area within the SOMA district?

  5. #9875

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    Quote Originally Posted by coralridge View Post
    the article says midrise which in Newark means what--8 to 10 stories at best?
    When I was in Broad street the day it closed they were talking filling the gap between 550 and 570 so that would be 16-18 floors

  6. #9876
    Forum Veteran West Hudson's Avatar
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    Quote Originally Posted by scrollhectic View Post
    Did the article mention who the developer is? Unless I missed it, there's a possibility that the developer may already be established in the city. Also, isn't that site next to the proposed "Vibe Apartments" development? If so, between Vibe, Teacher's Village, and the smaller infill developments like William Flats, there is some critical mass of gentrification in that area. It's also just a couple blocks away from the Prudential Center, Marriott and Indigo Hotel, so it's not an area completely void of development. Lastly, isn't that area within the SOMA district?
    Vibe apartments is another proposal that probably won't get built anytime soon. And I think the equity in Teacher's Village came almost entirely from government sources (i.e. the developer took on very, very little risk with the project). The reason why we're even seeing these articles about proposed towers is that the developers are hoping that some investors read them and consider getting involved. On the other hand, it sounds like the next Shaq tower is the only project that might have actual financing lined up at this point. I would be surprised if any of the others have more than 1% of funding lined up.

    Sorry for sounding like a Debbie Downer, but at the end of the last cycle there was alot of hope that turned into alot of disappointment (including halving the height of the NJPAC tower, and almost a decade delay in building it and the first Shaq tower) and I'm 99% sure we're going to see a lot of the same over the next year or two.
    Last edited by West Hudson; July 24th, 2018 at 09:37 PM.

  7. #9877

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    https://www.tapinto.net/towns/newark...rmer-garment-w

    Luxury Units Slated For Newark's Former Garment Workers' Union Building


  8. #9878

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    Same developer who purchased 560 Broad

    Quote Originally Posted by nignog View Post
    https://www.tapinto.net/towns/newark...rmer-garment-w

    Luxury Units Slated For Newark's Former Garment Workers' Union Building

  9. #9879

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    https://jerseydigs.com/second-shaq-t...ighway-newark/


    I'm honestly hope they can come up with some attractive architecture.

  10. #9880

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    https://www.nj.com/essex/index.ssf/2..._penthous.html

    Shaq plans on living in two places in Newark since he made this same claim regarding rector st

  11. #9881

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    The second Shaq tower got approved. If the rendering really depicts what will get built, it will be a great addition to the area.

    https://www.tapinto.net/towns/newark...or-second-shaq

  12. #9882
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    Quote Originally Posted by milesq View Post
    The second Shaq tower got approved. If the rendering really depicts what will get built, it will be a great addition to the area.

    https://www.tapinto.net/towns/newark...or-second-shaq
    Thanks for sharing! Not a phenomenal design, but certainly better than the first Shaq tower and a huge step forward in creating a presence on McCarter Highway.

    It looks like 2019 will be a good year of growth, because according to Minno & Wasko, 55 Union Street, a massive 403-unit building to be built just south of Penn Station, will be breaking ground just a few short months from now in November:


  13. #9883
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    Quote Originally Posted by milesq View Post
    The second Shaq tower got approved. If the rendering really depicts what will get built, it will be a great addition to the area.

    https://www.tapinto.net/towns/newark...or-second-shaq
    Thanks for sharing! Not a phenomenal design but certainly better than the first Shaq tower and a major step forward in creating a presence along McCarter Highway.

    In related news, it looks like 2019 will be a good year of growth for downtown Newark as (according to Minno & Wasko) 55 Union Street (with a whopping 403 units) will be starting construction a few short months from now, in November:


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