Last week, the city of Newark announced that a 7.5-acre, 2.3-million-square-foot mixed-use development is in the works at 450 Broad Street. That’s downtown, on the current site of the Bears & Eagles Riverfront Stadium. The project will include residential units, office space, retail, and cultural space, Jersey Digs reported. The number of units wasn’t disclosed, but the site could easily accommodate over 1,000 of them. Lotus Equity Group is the developer and Practice for Architecture Urbanism is designing the project’s master plan. The 6,200-seat baseball stadium will be demolished. The four-story parking garage just south of it isn’t part of the site.
Hoboken, N.J.-based NJ Equity Investors has proposed to build an 18-unit residential building at 73-87 Fourth Avenue, in Newark’s North Ward. The apartments will be condominiums, although it’s unclear how large or tall the building will be, Jersey Digs reported. The site, acquired for just $440,000 in 2015, consists of a small, vacant single-story commercial building. The Newark Zoning Board of Adjustments will be presented the proposal today. A construction timeline has not been disclosed.
New Orleans-based Redmellon Restoration and Development is planning to convert the five-story office building at 579 Broad Street, located on the corner of Central Avenue in downtown Newark, into a mixed-use building with 48 residential units. The ground floor will contain 5,591 square feet of retail space on the ground floor. The residential units throughout the rest of the building will be rental apartments, Jersey Digs reported. Eminent Investment Group is the current property owner, as Redmellon has not closed on the sale of the property at this time. A construction timeline has not been disclosed.
New Jersey-based developer Rose Agency has proposed building a seven-story, 90-unit residential building at 161 Bellair Place, on the corner of Montclair Avenue in Newark’s Forest Hill section, a neighborhood located in the city’s North Ward. The project would include a parking garage on the first two floors, Jersey Digs reported. The property is currently occupied by a single-story storage facility and a commercial building. The Branch Brook Park station on the Newark Light Rail is three blocks away. The Newark Zoning Board of Adjustment, which must approve to the project for it to move forward, will be presented plans on November 10.
The Ishay Group is proposing to redevelop the long-vacant, 25-story, 246,600-square-foot Carmel Towers building at 440 Elizabeth Avenue, also known as 203-221 Meeker Avenue, in Newark’s South Ward. The dilapidated tower would contain 216 residential units ranging from one- to three-bedrooms, Jersey Digs reported. Amenities would include a lounge, entertainment room, pool, fitness center, roof deck, and community garden. Mancini Duffy Architecture is behind the renovation’s design. The project must first be approved by the Newark Central Planning Board, which is scheduled to hold a meeting on October 24.