| Nexis4Jersey |
Mar 1, 2015 6:43 AM |
Newark Housing Roundtable was hosted a few days ago at NJIT... A Friend and Forum user Towerpower posted a summery of what was said...
http://wirednewyork.com/forum/showth...l=1#post454381
Quote:
- As Brick City mentioned, NJPAC tower was listed as a summer groundbreaking. This directly contrasts with the one month timeframe that was mentioned during Ras Baraka's town hall meeting that I have been posting about. The only thing I could think of is the discrepency between the start of work and the start of digging to actually put a shovel in the ground. There is a two story building that served as a temporary annex to NJPAC as a ticket office on the corner of the site which is also occupied by a Newark Police office. That must be removed and the parking lot torn up to begin digging. Demolition might take 2-3 months and is a different permit than excavation.
- Teacher's Village retail is 70% pre-leased and Ron Beit specifically targeted retail that he would "want to replicate" as opposed to the liquor stores and hair braiding places that make up the vast majority of downtown retail, particularly along Halsey Street. He wants to create "destination retail" but not specifically national chains. Unfortunately, very few Newark businesses have the capital to open a second location or the desire to move. I think the replacement of the Calumet building will contribute the remaining 30%. Permits are almost all acquired for the retail stores, something that was eased by the clear regulations of the new zoning code, so interior work can finally begin within a month.
- According to Julio Colon, 219 private housing units were constructed last year, with many of them being two or three-family buildings. 198 units are underway now and 183 are in the permitting process.
- The Valentine's Day Land Sale was a massive success. 500 couples or singles (can't discriminate in any way, including relationship status) lined up and looked at lots and all 100 were sold. 25 to Newarkers, 45 to NJ residents, and 30 from outside New Jersey, particularly New York City. The news has continued to spread rapidly with 555 positive news reports about Newark, and it was reported on in France and Tokyo!!! They are hoping for another sale soon to build on the success and sell the other 2000 city owned residential lots. The result of this sale means 100 new homes completed within the next 18 months.
- The Clinton Street artists housing I mentioned earlier will be at 505 Clinton Street. A huge former historic bank building will be renovated into live-work spaces. https://www.google.com/maps/place/50...047d638fab7230 It is one block from the new Newark Public Safety office that is one block east.
- Carmel Towers (250? units) near Weequahic Park is currently abandoned. It failed some very important inspections and was emptied almost overnight. A developer bought the building and is working on permits to renovate it.
- A number of statistics were thrown around.
- 24% own their own homes and 76% are renters. This would not be a problem, but there is a huge problem with "absentee landlords" that suck every penny out and do little in repairs.
- Newark has 8 code enforcers for the whole city. At least 20-25 would be needed to properly keep up with those absentee landlords.
- Ras Baraka is initiating varying plans to crack down on those landlords through either punishment or incentives.
- Section 8 housing (subsidized units in privately owned buildings) has a waitlist of 20,000!
- Affordable Housing in Newark Housing Authority owned buildings also has a waitlist of 20,000!
- 55% of all renters pay more than 30% of their income in rents. 30% are below the poverty line.
- Rents are extremely high compared with sales due to the odd demand. There is a huge demand for rental apartment but few Newarkers can get the financing to buy a house. Normally, the rent price formula is the sale price divided by 120 months. This means that a $180,000 three-bedroom condo could be fairly rented for $1500 a month and would require a household income of $61,000. It often costs $200,000 to build the same unit, thus the need for the subsidy. Newark's median household income is $34,000 so half make less than that, hence the massive need for subsidized housing.
- At last count, there were 1500 homeless people in Newark, likely with many on the wait list for subsidized housing. There is a $2,000,000 program to house them and provide services, but that is too small. SERVICES ARE A PRIORITY TO HELP THEM!!!
- NHA estimates a need for $560 Million extra to solve the housing problem. $13 Million is allocated from Congress in the 2015 budget and that is shrinking. They are moving towards subsidizing suburban homes AGAIN (that started the whole mess in the 1930's), and are even eliminating the programs. Hope VI was eliminated. Newark has to look increasingly to non-traditional funding sources like non-profits and corporate grants, and random other state and federal programs. It is possible, but it is a logistical NIGHTMARE! At the current rate, the affordable housing stock is decaying faster than it can be maintained or renovated.
- Two specific areas in the south and west wards have been designated as "model neighborhoods." They are approximately here https://www.google.com/maps/@40.7170.../data=!3m1!1e3 and here https://www.google.com/maps/@40.7292.../data=!3m1!1e3 Both neighborhoods have a large number of vacant lots with potential to be developed and a lot of abandoned properties.
In other non housing roundtable news,
- Spice n' grill opened at 27 Academy Street last Friday. It is an Indian restaurant and it has a 100% Halal menu option
- BURG will open their location in Military Park in late-May.
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