NJ TRANSIT HUB PERSPECTIVE | SUMMER 2018
Newark’s Mixed-Use/Residential Developments
Residential and redevelopment endeavors are helping to revitalize Newark’s downtown and Broad Street areas, which will position
this market for future growth.
Among the projects reshaping New Jersey’s largest city:
Vibe
Strategic Development Partners announced plans for an $80.0
million luxury apartment project at the intersection of Halsey
and William streets in downtown Newark. The 256-unit tower
will contain a mix of studio, one and two-bedroom apartments,
as well as two street-level restaurants.
Mulberry Commons
In late 2017, ground was broken on the $10.0
million Mulberry Commons revitalization
project which will transform 22 acres adjacent to the
Prudential Center into a mixed-use park that connects
Penn Station to the city’s downtown and Ironbound
neighborhoods. The area will include a park, retail
establishments and restaurants. Office and retail space
will also be rolled out through the redevelopment of a
warehouse located at 110 Edison Place.
One Rector Street
Boraie Development recently
topped out a 168-unit apartment
tower on a site near the New Jersey
Performing Arts Center in downtown
Newark. The 21-story project, known
as One Rector Street, is expected
to open in late 2018.
One Theater Square
The New Jersey Performing Arts Center and Dranoff Properties have
topped off One Theater Square, which represented Newark’s first
luxury high-rise residential tower in more than 50 years. Located
across the street from the New Jersey Performing Arts Center and
Military Park, the 22-story building will feature 245-units and street-
level retail space upon its completion in the summer of 2018.