New Projects Give a Much-deserved Makeover for Newark.

12 NEW PROJECTS IN NEWARK

One Theater Square, Newark, NJ

One Theater Square

One Theater Square is a 22-storied 245-unit apartment tower, a developmental project of Dranoff Properties and the New Jersey Performing Arts Center. The site is spread across an area of 1.2-acres across Center Street from NJPAC. Slated for completion in mid-2018, One Theater Square will include studios through 3-bedroom apartments on a rental basis for approximately $1,250 to 4,500. There are 26 for sale.

The Remake of Hahne's Department Store, Newark, NJ

The Remake of Hahne’s Department Store

The old Hahne’s Department Store, located across Broad Street from Military Park, is a mixed-used re-development project which now open. This 400,000-square-foot project developed by L & M Development Partners, has a 50,000-square-foot Express Newark classroom, studio, and 160 rental apartments. The administration of this gallery facility will be looked after by Rutgers. Plans for a restaurant by Harlem-based celebrity chef Marcus Samuelsson are included, and a 30,000-square-foot Whole Foods supermarket has already opened to rave reviews.

Teachers Village, Newark, NJ

Teachers Village

A Pritzker Prize-winning modernist innovator and Newark-born architect Richard Meier said being employed by the RBH Group to design Teachers Village was his aspiration that came to a realization. The $150 million mixed-used project includes three charter schools that are now completed. It also includes retail spaces, and 206 apartments for teachers and other members of the teaching staff. These are currently under construction.

Office Space for Rent, Newark, NJ
540 Broad St. Newark, NJ | Office Space for Lease

540 Broad St.

The red sandstone building at 540 Broad Street was built in 1929 as the headquarters of Bell Telephone and became Verizon’s New Jersey headquarters before it was sold to L&M Development for $16.5 million in May. L&M has plans to refashion the interior into a 260-unit apartment tower while preserving its distinctive art deco exterior.

Audible.com - New Building in Newark, NJ Professional Office Space

Audible.com

Audible.com, a subsidiary of Amazon that produces audio books, is adapting the Second Presbyterian Church on Washington Street into its new headquarters in Newark. The company made this decision nine years after it moved to the city from Wayne. The $100 million historical reuse project will benefit from $39.3 million in state tax credits under the Grow New Jersey job creation and retention program.

New Business Projects in Newark
36-54 Rector Street, Newark, NJ

36-54 Rector Street

NBA great and Newark native, Shaquille O’Neal, is a partner in this 168-unit apartment tower created by Boraie Development that, like One Theater Square, will be raised near the New Jersey Performing Arts Center. The project stalled after initially breaking ground in 2013, but officials say completion is now projected for summer 2018.

Aerofarms, Newark, NJ

Aerofarms

The RBH Group has developed Newark’s fourth Aerofarms indoor vertical farm facility in an old steel mill in the Ironbound section. It stacks urban crops in trays that don’t need soil or conventional watering techniques, for an annual production yielding 130 times more food per square foot than traditional farming. It will also be Aero’s new headquarters that is due for completion in 2018.

Riverside Arms, Newark, NJ

Riverside Arms

Riverside Arms is a 128-unit residential project nearing completion on Chester Street in Newark’s North Ward. It overlooks the Passaic River across Route 21. The residences will take you miles away from the flurry of downtown development. This market-rate project, a cluster of low-rise buildings with tan siding and natural stone accents, has received a tax abatement from the city.

Office Space for Rent, Newark, NJ
commercial office space interior

TRYP by Wyndham

Newark is the latest spot for a TRYP by Wyndham Hotel, an internal makeover of the historic St. Francis Hotel building located on East Park Street due for completion in 2018.A re-developmental project taken up by the Berger Organization, CEO Miles Berger said the 101 rooms would be priced at $140 per night. The New Jersey Performing Arts Center, the Prudential Center arena, Newark Museum, and trains to New York from Newark Penn Station will be entirely accessible to its guests.

Hampton Valley, Newark, NJ

Hampton Valley

Located on Elizabeth Avenue in the South Ward, Hampton Valley is a $15 million overhaul of 89 townhouse apartments. This project was created for families with low incomes, funded mainly by public sources and subsidized rents by the Federal Section 8 program, said Steve Bloom, a principal with the Levine Group, the developer. Bloom noted that the qualifying criteria were an annual income of $50,000 for a family of 4 to qualify for a 2-bedroom unit. He could identify the substantial need in this area.

Triangle Park, Newark, NJ | Commercial Office Space

Triangle Park

The Triangle Park is envisioned as a 2.5-acre oasis of fountains, benches, and plantings on the site of a former rail yard now used for parking near Prudential Arena and the Newark Warehouse Building. It’s a proposed project that would include a pedestrian bridge spanning elevated railroad tracks along McCarter Highway, linking Newark’s downtown and Ironbound sections. The park is projected to cost about $40 million in city, state and federal funds, and will be completed sometime in 2018.

Office Space in Newark
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