Newark

SOMA Newark

After A Decade of Failures, Newark’s New Construction Boom Finally Takes Off

8:00 am on August 17, 2018 By Jacob Felson

Until 2017, residential development in downtown Newark was largely a figment of developers’ imaginations. Over the decade prior, proposals were ambitious but financing was scarce. The one project that had gained financing, Eleven80, a rehabilitation-and-reuse of a long dormant former office building, had gone into foreclosure in 2009, reemerging several years later as a diamond in the rough, Downtown’s lone successful project. Meanwhile, supporting retail was extremely limited.

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Ironside Newark, design by Perkins Eastman

New Renderings for 500,000 Square Foot Office Project “Ironside Newark”

7:30 am on March 15, 2018 By Andrew Nelson

The city of Newark is making slow but steady progress towards adding new urban infill, including large low-slung developments. One such example is 110 Edison Place, inside the city’s downtown area. Edison Properties purchased the building from North Caldwell-based Berkowitz Company for $7 million, allowing them to build nearly half a million square feet of new office space.

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Michael Green Architecture _ Lotus Equity Group 1

Renderings Revealed for Country’s Largest Timber Office Building in Newark, New Jersey

7:30 am on February 6, 2018 By Andrew Nelson

Renderings are out for an 11-story timber office building proposed for the Riverfront Square development in Newark, New Jersey. The site is located next to New Jersey Transit’s Broad Street station, which is less than a twenty-minute commute to Midtown Manhattan. The project is part of a larger 11.8-acre mixed-use development, as well as Riverfront Park, designed by James Corner Field Operations. Lotus Equity Group will be responsible for the development.

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115 Chestnut Street

Residential Development Site at 115 Chestnut Street Placed on Market, Newark, N.J.

6:30 am on February 14, 2017 By Reid Wilson

Property owner Chestnut Global Enterprises has placed the development site at 115 Chestnut Street, located on the corner of Hermon Street in Newark’s Ironbound district, on the market for $3.96 million, Jersey Digs reported. Plans for a five-story, 72-unit residential building, called Vesey Street Commons, are fully approved. The apartments would range from one- to two-bedrooms, if a new developer were to follow the latest permits. The 28,988-square-foot plot is currently vacant. Until roughly a decade ago, it was occupied by an industrial building utilized by the Wilson Imperial Company.

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