256 apartments on 17 floors, which will reach 210 feet high. It will have 156 parking spots in the podium and 8600 square feet of ground floor retail space. The advertising on the podium shows the Chickie's and Pete's restaurant logo, which should draw some considerable street life to the area. The other ads are for NJPAC, NJIT, the Prudential Center, and the Newark Museum.
It is the southeast corner of Halsey and William Street, which currently has abandoned 2 and 3 story buildings, and the corner one has a quite nice facade. I need to talk to their security guards at Teachers Village again because when I was talking to one while photographing the development at night nearly 2 years ago, he was mentioning plans to put a parking garage on that corner.
Yeah, unfortunately it seems that way. Perhaps the slow pace of leasing at One Theater Square scared off some potential investors in proposed projects. On a positive note, net absorption for office leasing in the Newark CBD was positive for the first quarter (~95K net absorbed in a market of approximately 12.75 million square feet, which as I estimated it is higher than the comparable national rate for that period.)
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