Mayor Ras J. Baraka, Newark native Queen Latifah, Deputy Mayor of Economic and Housing Development Allison Ladd, The Newark Museum of Art CEO and Director Linda Harrison, and Life Assets Founder and CEO Alberto Goncalves came together this week to break ground for the Rise Living housing development.
The new development Rise Living is a collaboration between Life Assets Development, Gonsosa, and the BlueSugar Corporation, which was co-founded by Queen Latifah, a native of Newark. The development compliments a citywide initiative to revitalize the face of Newark and provide beautiful modern housing to its residents. The development is looking toward the future of Newark and will transform several properties along 19th Avenue, South 16th Street, and South 17th Street into modern housing and mixed-use spaces.
The buildings will include a fitness center, business center, charging stations for electric vehicles, and ground floor parking spaces. 16 units will be classified as affordable housing, and market-rate rents are set to start at $1800. Modern amenities will include touchless entry and free wifi in all common areas, online portals for maintenance and rent payment, washers and dryers in units, hardwood floors, green roofs in selected units, air conditioning, stainless steel appliances, and more.
Work has already begun on the site at 650 Springfield Avenue in January of 2022. The Groundbreaking ceremony will initiate the next phase of work on the site, leading to an eventual 76 units as well as 1,900 square feet of ground-floor space for non-profit organizations. Pre-leasing is expected to commence in July of 2022.