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The Recent Urban Revitalization Boom in Downtown Newark,New Jersey

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Over the last 2 years Newark seen a Massive amount of Urban Reinvestment in its Downtown Core. Whether its older warehouses and buildings being renovated into lofts or apartments or older 3 story buildings being renovated into mixed use retail with apartments on the upper floors. Over the last 7 months things have really heated up with construction on the New Prudential Headquarters topping out and a New Cablevision call center high rise breaking ground. Whole Foods , Chipotle , Several Burger joints are opening up by the Fall... Over the last few weeks i've been documenting the various changes to Newark.... There will be a Downtown Thread , Ironbound thread and Passaic / Port Thread...the last thread won't be posted till mid July as I have yet to take the River tour yet. As I take New Downtown Photos from now on I'll just place them in this thread...unless its a specific event. I do plan on redoing Forest Hill and University Heights over again.

Military Park​

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Prudential Second HQ's High Rise

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Future site of Whole Foods , Apartments and Rutgers Dorms
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Halsey Street​

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The Core of Downtown

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Morris & Essex at Newark Broad Street Station​

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Northeast Corridor at Newark Penn Station​

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~Corey
1 - 6 of 6 Posts
If history is a guide, I imagine it's unlikely some of these large developments -- i.e. the stadium redevelopment -- will actually get off the ground.
I'm encouraged to hear about the thousands of units actually under construction -- do we have a neighborhood breakdown?

- downtown: about 600 I can think of not counting the honors dorm

- Ironbound?

- University Heights?

- elsewhere?(sorry about my bias)
Well there are thousands of apartment underway as we speak...so you can't go by history anymore. Those are market rate units..
What are people's thoughts about the affordable housing set aside bill that the Council will vote on tomorrow ? I was surprised to receive a mailer about it -- maybe it's intended more as a reminder to voters that Baraka is behind it (?)
I think these set asides are generally bad public policy. I'm not opposed to the government subsidizing low-income housing but I think this is the wrong way to do it. First, it leads to higher taxes levied arbitrarily on one group -- developers and/or new residents. If politicians want to generate more money for subsidized housing they should raise taxes more broadly. Requiring developers to sacrifice X units isn't a principled means of taxation.

It's also a highly inefficient way to increase the stock of more affordable housing in the city. New buildings tend to be relatively higher end than the existing stock. Capping the rent of X% of units in such buildings produces relatively few affordable units at higher cost. Why not simply tax the developer and use the money to build more units in a less expensive locale?
It's a joke and will set Newark back. No one is being displaced with the new developments.
Facade work on the garage next to the vacant 12-story 1160 Raymond has me wondering whether the hotel project will get underway there sometime in the next ... anyone have info?
It would be interesting to know what percent of hotel occupancy in Newark is budget-minded visitors to NYC. To that end, perhaps hotel financing has become harder to obtain in Newark given the hotel boom in NYC that kept a lid on prices there.
1 - 6 of 6 Posts
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