A rendering has been revealed of the New Community Corporation’s planned two-story, 24-unit supportive housing project at 93-101 14th Avenue, located in Newark’s Central Ward. All of the project’s apartments will be studios housing homeless individuals suffering from mental illness, Jersey Digs reported. The building, called A Better Life, is receiving financing from various local, state and federal agencies and organizations. Jersey City-based LWDMR Architects is behind the architecture. A groundbreaking ceremony was recently held at the site, which has long been vacant, and completion is expected next year.
A rendering has been revealed of the five-story, 84-unit mixed-use building planned at 73-87 Clay Street, located on the corner of Spring Street in the Lower Broadway section of Newark, New Jersey. Dubbed Spring Street Commons, it will host 7,500 square feet of commercial-retail space on the ground floor, in addition to a 21-car parking garage, Jersey Digs reported. It’s not known if the apartments will be condominiums or rentals, but the latter is more likely. The site is currently occupied by two low-rise industrial properties, both of which must first be demolished. Newark-based Paris Real Estate Inc. is the developer. The project was approved by the city’s Central Planning Board back in June of 2015.
L+M Development Partners’s mixed-use conversion of the four-story, 400,000-square-foot Hahne & Co. building, located at 609 Broad Street, at the corner of New Street in downtown Newark, is in the final stages of construction. Photos of the construction progress can be seen in a Jersey Digs report. Construction appears to have wrapped on the outside of the existing four-story structure, which will contain a mix of residential, retail, office, and community space. A new nine-story building — located at the corner of Halsey and New streets — is currently receiving its façade. The new construction component will feature ground floor retail space and residential units above. Between the two building, there will be 75,000 square feet of retail space, 160 apartments (40 percent of which will be set aside as affordable housing), and 100,000 square feet of community and community use space (50,000 square feet of which will be institutional and dedicated to Rutgers University). Whole Foods Market is expected to open their new 30,000-square-foot store in the building in 2017, which is when the rest of the project should be complete.
New York-based L&M Development has acquired the 20-story, 436,000-square-foot New Jersey Bell Headquarters Building, an office building located at 540 Broad Street in downtown Newark, for $16.51 million. The developer plans to convert the building into 246 residential units, according to NJ Advance Media. The basement will be fit with a fitness center, a bowling alley, and storage space. The rest of the building will become apartments, except for the fourth floor, which will remain an operational Verizon switch station. Connecticut-based Amara Associates is designing the project. The building is listed on the U.S. National Register of Historic Places.
New York-based Lotus Equity Group has acquired the Bears and Eagles Riverfront Stadium at 450 Broad Street, in Downtown Newark, for $23.5 million, NJ Advance Media reports. The 6,014-seat stadium (and presumably the four-story parking garage to the south), located two blocks from the New Jersey Transit’s Newark Broad Street station, is expected to be demolished to make way for a mixed-use tower. The development could accommodate between 1,000 and 1,500 residential units and will contain commercial spaces. The commercial uses haven’t been finalized yet, but plans include a possible hotel and retail space. A construction timeline has not been disclosed. The baseball stadium was construction only 17 years ago.