Newark is booming! After several attempts, the development boon is finally taking root in downtown and throughout the city’s neighborhoods. In addition to longstanding anchors such as the New Jersey Performing Arts Center, Prudential Center Arena and Gateway complex, there are several major new developments that have recently opened or are currently under construction that are rapidly revitalizing the city and making it a place to live, work and play.
- Marriott opened a new hotel in 2012 and was quickly followed by the Indigo Hotel on the same block in 2014. Currently a Tryp by Wyndham is under construction and at least three hotels are in the planning phases for the downtown.
Military Park has recently been refurbished and now sports a new restaurant – Burg – and half million-dollar carousel.
Across from the park, Prudential opened a new 22 story tour in 2015 and the renovation of the historic Hahne’s building will be home to 160 residential units, retail arcade, office space, Rutgers University and a Whole Foods.
Up the street, Bears Stadium has been sold to make way for over 1,000 residential units across from where Audible.com is planning an expansion to hire 350 additional employees.
Further south, Triangle Park will redevelop 22 acres of mostly vacant surface parking into open space and mixed-use developments.
At the same time, Newark CEDC is spearheading the redevelopment of the city’s riverfront park which will boast over 30 acres and two miles of walkway when completed.
Outside of downtown, Springfield Avenue marketplace is home to a brand new Shop Rite in addition to more retail and residential spaces. NCEDC is working to bring to market 30 market rate units in the James Street Historic District as well as 27 affordable housing units and gallery space for artists on Clinton Avenue. The Ironbound neighborhood is booming with small scale multi-unit buildings on Elm Street, Bruen Street, New York Ave, Polk Street and more. All this is without mentioning the transformative projects on tap such as Four Corners Millennium.
Newark is the place to be.