Following up on a surge in neighborhood redevelopment which occurred over the summer despite the pandemic, Mayor Ras J. Baraka announced that this fall the City has committed $5,243,276 in Federal HOME money to fund affordable housing units within developments throughout Newark’s five wards. Together the 13 developments comprise 302 affordable housing units, 89 of which are HOME funded. The 13 range from new two- and three- family homes to the renovation of vacant apartment buildings, the construction of new apartment buildings and the conversion of a manufacturing plant into a seven-story loft residential building. Nine of the 13 have minority and women developers.
“Where we spend our housing dollars in Newark is determined by our commitment to equitable growth—creating more home ownership, more places to live that residents can afford and nurturing more minority and women contractors to build community wealth,” said Baraka. “In this way, we are providing well-paying jobs for residents as we ensure the rebirth of blighted neighborhoods. An important goal of my administration is for residents of all our neighborhoods to benefit from the accelerating development taking place downtown.”
The 13 developments receiving HOME Funds
601 15th Avenue & 510 South 17th Street (West Ward)
Development of two multifamily residential homes to create a total of five units for affordable homeownership. HOME funded units: five. Total affordable units: five.
Developer: Hamlett Management LLC
536 & 538 South 20th Street (West Ward)
Development of three multifamily residential homes to create a total of seven units for affordable homeownership and rentals. HOME funded units: seven. Total affordable units: seven.
Developer: DDA Pioneer Investment Group
320-322 Hawthorne Avenue (South Ward)
Development of a three-unit multifamily home. HOME funded units: three. Total affordable units: three.
Developer: Rubix International
435-437 South 18th Street & 441 South 18th Street (South Ward)
Development of three multifamily residential homes to create a total of nine units for rental. HOME funded units: nine. Total affordable units: nine.
Developer: New Age Investment Properties
41-47 Astor Street (East Ward)
Development of a five-story multifamily structure with 20 units. HOME funded units: eight. Total affordable units: nine.
Developer: Ascension Capital Partners LLC
449 Washington Street (Central Ward)
Development of a five-story multifamily structure with 20 units. HOME funded units: 10. Total affordable units: 10. Developer: ATS Development Group LLC
446-450 Irvine Turner Boulevard (South Ward)
Renovation of an existing four-story apartment building with 29 units.
HOME funded units: 10. Total affordable units: 10.
Developer: 446 ITB LLC
719-725 South 11th Street & 716-718 South 12th Street (South Ward)
Development of five two-family homes. HOME funded units: five. Total affordable units: five.
Developer: Washington Bay Group LLC
84-92 Parkhurst Street (East Ward)
Conversion of an existing manufacturing plant into a seven-story structure with 59 lofts.
HOME funded units: nine. Total affordable units: nine.
Developer: Gateway Lofts Urban Renewal LLC
109-119 Broad Street & 130 North 11th Street (Central Ward)
Renovation of a four-story building with 12 units and adaptive reuse of a five-story vacant industrial building as 60 loft-style apartments. HOME funded units: eight.
Total affordable units: 71.
Developer: Lantana Urban Renewal, LP
457 Broadway (North Ward)
Rehabilitation of property to provide 24-hour care and monitoring to 17 special needs individuals diagnosed with mental illness. HOME funded units: four. Total affordable units: nine.
Developer: Project Live, Inc.
250 Georgia King Village Outparcel, corner of West Market Street and Littleton Avenue (West Ward)
New construction of approximately 70 rental units. HOME funded units: nine.
Total affordable units: 78.
Developer: West Market Owners LLC
2-8, 18-22, 24, 26, 28, & 30 Stratford Place (South Ward)
Renovation of an existing vacant 75 apartment complex consisting of two mid-rise buildings.
HOME funded units: two.Total affordable units: 75.
Developer: Oak Towers Urban Renewal Entity LLC

Leave a comment

Your email address will not be published.