NEWARK RISING
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One Theater SquareOne Theater Square is a22-story, 245-unit apartment tower being developed by Dranoff Properties and the New Jersey Performing Arts Center on a 1.2-acre site across Center Street from NJPAC. Slated for completion in mid-2018, it will include studios through 3-bedroom apartments renting for $1,250 to 4,500, with 26 affordable units.
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The remaking of Hahne's Department StoreRedevelopment of the old Hahne's Department Store, across Broad Street from Military Park, is a mixed-used project projected for completion this spring. The 400,000-square-foot project, by L & M Development Partners, will include 160 rental apartments, a 50,000-square-foot Express Newark classroom/studio/gallery facility run by Rutgers, a 30,000-square-foot Whole Foods supermarket, and a restaurant by Harlem-based celebrity chef Marcus Samuelsson.
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8. Aero FarmsDeveloped by RBH Group in an old steel mill in the Ironbound section, Newark's fourthAero Farms indoor vertical farm facility stacks urban crops in trays that don't use soil or conventional watering techniques, for year-round production yielding 130 times more food per square foot than conventional farming. It will also be Aero's new headquarters, due for completion in 2017.
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Work for Audible, Live Rent-Free?
Would you live in Newark if your boss paid your rent for a year?
That was the question that Audible.com, the audiobook company, posed to its workers when it announced a housing lottery in January. The 20 winning employees would get $2,000 a month in free rent for a year if they signed a two-year lease at the newly restored Hahne & Company building in downtown Newark, a 10-minute walk from Audible’s headquarters.
Of about 1,000 employees in the company’s Newark and Jersey City offices, 64 applied. In March, the company, which has 16 global locations, expanded the offer, pledging a $250 monthly rent stipend for a year to any employee who lives in, or moves to, Newark. More than two dozen employees have taken advantage of that offer.
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That was the question that Audible.com, the audiobook company, posed to its workers when it announced a housing lottery in January. The 20 winning employees would get $2,000 a month in free rent for a year if they signed a two-year lease at the newly restored Hahne & Company building in downtown Newark, a 10-minute walk from Audible’s headquarters.
Of about 1,000 employees in the company’s Newark and Jersey City offices, 64 applied. In March, the company, which has 16 global locations, expanded the offer, pledging a $250 monthly rent stipend for a year to any employee who lives in, or moves to, Newark. More than two dozen employees have taken advantage of that offer.
Read more...
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Berger’s rehab project looks to tap into Newark’s growing hotel marketAs Miles Berger knows all too well, transit access and proximity to Manhattan have been longtime drivers of Newark’s office market.
He also knows that those benefits play a major role in the city’s lesser-known tourism sector. It’s why Berger is taking a major step to upgrade his hospitality portfolio in downtown Newark: a gut renovation of a 90-year-old hotel that will result in a new state-of-the-art property near the city’s Military Park. Slated to be completed this fall, the property will reopen under the TRYP by Wyndham banner, delivering 101 guest rooms to a burgeoning section of downtown Newark. And it will join what is still only a small group of hotels in the city’s main commercial district, including the nearby Best Western Robert Treat Hotel that is also owned by Berger’s firm Read More.... |
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Former Newark Bears Stadium Site Will Become High-Rise Apartments
NEWARK, NJ — The Newark Bears and Eagles Riverfront Stadium site in Essex County is continuing its transformation into high-rise apartment and retail buildings.
On Monday, the project’s developer Lotus Equity Group announced the names of the four architecture firms that are leading the charge to construct up to 2,000 residential units and 400,000-square feet of office space in the Broad Street Station section of downtown Newark. The firms are the Practice for Architecture and Urbanism (PAU), Michael Green Architecture (MGA), TEN Arquitectos and Minno & Wasko Architects and Planners. Don’t forget to visit the Patch Newark Facebook page here. Lotus purchased the site from the Essex County Improvement Authority, which owned and managed the stadium for the city of Newark and Essex County, for a price tag of $23.5 million. It was the home of the Newark Bears until the franchise folded in 2013. The developer aims to start construction sometime next year, Bloomberg.com reported. |
