Newark has over 400,000 sqft of retail in development. This outstanding number is being filled by top class retailers, with a new Whole Foods, Nike Town, Shop Rite, Burlington Coat Factory and more. As the downtown core grows in residential density, new retailers are setting up shop in Newark. The city is transforming into a 24/7 city that is connecting the residential population to new amenities, attractions and services.
Hahne's & Co Building
The transformation of the Hahne & Co. building has broken ground on a $174 million restoration project. The project, led by L+M Development Partners that will house 160 mixed income housing units, 75,000 square feet of retail, a new cultural arts space for Rutgers University and a Whole Foods.
The project is the preeminent example of success in Newark. Managed and financed through partnerships between private, non profit and private groups, Newark is reinstating its crown jewel. The project was financed through the New Jersey Housing and Mortgage Finance Agency, $66 million from the New Jersey Economic Development Authority, an equity stake from both Goldman Sachs Urban Investments Group, Prudential Financial and Citi Bank.
Located in the heart of Newark’s downtown, Hahne’s building is bringing premium retail space to enable the development of Newark’s best amenities.