Monday, June 20, 2016

Newark Planning Board to Hear Verizon Building Plans

Newark, New Jersey: Redevelopment plans for the New Jersey Bell Headquarters Building in Downtown Newark are moving forward.

Essex County Place broke the story in April that Verizon New Jersey, which owns the historic 87-year-old building, is selling it for $16,510,000. It is listed on the National Register of Historic Places. Verizon was originally planning to sell the building in 2008, but stayed after receiving over $20 million in tax breaks from the State of New Jersey.

Now, the project, which calls for 267 residential units on the upper floors of the 21-floor building, in addition to retail space on the first floor, a gym, and a fitness center is set to be heard by the Newark Central Planning Board on June 27th at 7:30pm at City Hall. According to a legal notice, Verizon will continue to occupy a portion of the commercial space for offices and a switching center. 

CetraRuddy will be the lead architect and designer of the project, according to Interior Design Magazine. 540 Broad Street Owners LLC is the project developer, along with Prudential and L+M Development Partners.

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