The City Council of East Orange, New Jersey has given Blackstone 360 the green light to construct a new residential development at 260 South Harrison Street. Known as “Allure 260,” the building will top-off at 18 stories and comprise 325,000 square feet, with 201 units situated within.
Now approved, the project represents the company’s largest investment to date in East Orange, and is expected to break ground in January 2019.
Once the building is occupied, the annual payments to the City of East Orange will reach approximately $400,000 per year, or about ten times the annual revenue generated from the property which today is comprised of underutilized parcels and small single-family homes.
“This is a major win for the City and the community,” said Daniel Jennings, Director of Policy, Planning and Development for East Orange. “This property was an abandoned blight. Now, this new luxury high rise will be part of the renaissance of East Orange.”