NJ TRANSIT HUB PERSPECTIVE | MID-YEAR 2019
Mixed-use/Residential Developments:
Several multi-housing and redevelopment projects are helping to revitalize Newark’s downtown and Broad Street areas,
which will position this market for future growth.
Among the endeavors reshaping the Garden State’s largest city:
50 Rector Park
Boraie Development recently
completed construction on 50
Rector Park, a 23-story project
near the New Jersey Performing
Arts Center in downtown
Newark. The building contains
169 rental units as well as
street-level retail space.
Photo courtesy of Boraie Development
Photo courtesy of Perkins Eastman
Mulberry Commons
Photo courtesy of CetraRuddy / Inglese Architecture & Engineering
Walker House
After breaking ground in late 2017, the $10.0 million
Mulberry Commons public park was recently opened.
Located adjacent to the Prudential Center, the
mixed-use park connects Penn Station to the city’s
downtown and Ironbound neighborhoods. The park
will also include an interactive fountain, public art,
retail establishments and restaurants. Office and
retail space have also been rolled out following the
redevelopment of a 402,530-square-foot former
warehouse at 110 Edison Place - Ironside Newark.
A joint venture consisting of L+M Development Partners, Prudential Financial and Goldman Sachs Urban Investment Group
completed its redevelopment of the former 436,000-square-foot New Jersey Bell building at 540 Broad Street. Rebranded as
Walker House, the 21-story building houses 264 apartments and 80,000 square feet of office and retail space. This represented the
second project for the joint venture, which had previously transformed the former Hahne & Co department store into a mixed-use
development containing apartments, retail, office space and anchored by Newark’s first Whole Foods.