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Renderings Reveal Four-Tower ‘Iberia’ Master Plan in Newark, New Jersey

New renderings have been revealed for Iberia, a four-tower residential complex that was recently approved for 450-466 Market Street and 31-39 Jefferson Street in the Ironbound neighborhood of Newark, New Jersey. Designed by MHS Architecture, the $803 million development will rise between 26 and 30 stories tall and yield 1,402 rental units, with 283 designated for low-income housing. The complex will also contain more than 100,000 square feet of residential amenities. The property is bound by Market Street and Raymond Boulevard to the northeast, Congress Street to the northwest, Jefferson Street to the southeast, and Ferry Street to the southwest.

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Example artwork, via downtownny.com

NYC Downtown Alliance Announces Partnership With ArtBridge To Beautify Lower Manhattan Construction Sites

The Downtown Alliance has announced a new partnership with NYC arts nonprofit ArtBridge to enhance the aesthetics of Lower Manhattan’s construction sites. This program will allow property owners to transform sidewalk sheds and construction fencing with curated artwork, contributing to a more visually engaging streetscape. It is made possible by Local Law 163, passed in 2023 by the NYC Department of Buildings, which requires property owners erecting temporary protective structures to either display artwork or formally opt out.

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Photograph of Newark Museum of Art, via newarkmuseumart.org

Museum Parc Mixed-Use Development Breaks Ground In Newark, New Jersey

Newark officials and cultural leaders recently celebrated the groundbreaking for Museum Parc, a $94 million mixed-use development located on Central Avenue between Washington Street and University Avenue in Newark, New Jersey. Developed in partnership with LMXD, MCI Collective, and MSquared, with support from the City of Newark and the New Jersey Housing and Mortgage Finance Agency, the project is being built as an extension of the Newark Museum of Art’s existing campus. The development will introduce 250 mixed-income apartments across two buildings, 2,300 square feet of retail space, and new indoor and outdoor museum areas. Construction is expected to complete by 2027.

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Rendering of 80 Freeman Street, courtesy of Shorewood Real Estate Group

The Ballantine Completes Construction At 80 Freeman Street In Newark, New Jersey

On January 15, Newark officials gathered with the development team to celebrate the completion of The Ballantine, a six-story residential building at 80 Freeman Street in the Ironbound section of Newark, New Jersey. Developed by Shorewood Real Estate Group in partnership with Bridge Investment Group, the $88 million project occupies the site of the former Ballantine Brewery and yields 280 units.

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Rendering of 50 Sussex Avenue, courtesy of INOA Architecture

Hoyt Tower Completes Construction At 50 Sussex Avenue In Newark, New Jersey

Construction is complete on Hoyt Tower, a 15-story residential building at 50 Sussex Avenue in Newark, New Jersey. Designed by INOA Architecture and developed by Tona Development and KS Group, the structure yields 203 units, 2,000 square feet of ground-floor retail space, and a 16-space parking garage. The property is bound by Sussex Avenue to the north, Central Avenue to the south, and Hoyt Street to the west.

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