Tuesday, April 12, 2016

Development Projects Continue in Newark's Ironbound

Newark, New Jersey: Two new development projects are coming to the Ironbound section of Newark's East Ward.

According to a legal notice, Sesnar Group, LLC has applied to the Newark Central Planning Board to build a 30,797 square foot five-story building at 852-854 Raymond Boulevard, next to the Gulf station near the Jackson Street Bridge. Should it be approved, the building would contain 16 apartments and would have a street-level garage with nine parking spaces. 

Currently, the site, which borders Market Street, lies vacant, though it was used as a private parking lot until recently. The proposal will be heard at the Central Planning Board meeting at 6:30pm on April 18th.

In addition, the City of Newark announced that officials broke ground on 'The Continental' on Friday. The complex will contain 89 apartments, commercial space, indoor parking, an exercise room, and outdoor recreation center, special event space, and a Wi-Fi lounge. It will be located on lots which currently sit vacant along Ferry Street, Main Street, and Magazine Street. There will be a shuttle service for residents to Newark Penn Station when the development is complete.

Like most new developments in the city, The Continental is receiving a long-term tax abatement.

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