[chris08876]

Newark building boom continues with $80M tower

Downtown Newark is getting another luxury residential tower, an $80 million project that would bring 256 units to the Brick City, according to developer Strategic Development Partners.

The building, named Vibe, will be made up of 60 percent one-bedroom, 20 percent two-bedroom and 20 percent studio apartments. It is slated for the intersection of Halsey and William streets in the Living Downtown Redevelopment Area, Strategic Development Partners said in a news release.

“Vibe will offer a technology-rich environment with abundant lifestyle amenities for millennials, who prefer the energy and convenience of cities like Newark,” Anthony V. Bastardi, Strategic Development Partners’ chairman and CEO, said in a prepared statement. “The location — just minutes from diverse dining options, world-class cultural events, sports and transportation — will make Vibe an enviable address.”

The building will join residential construction projects in the city that include One Theater Square and One Rector Street, the first market-rate residential towers in the city in more than 50 years.

“Vibe represents a significant investment in Newark by a talented and experienced team of redevelopment professionals,” Mayor Ras Baraka said in a statement. “It is yet another exciting sign that this city is a highly desirable location.”

The property will include two restaurants on the ground level, the developer said, joining a number of other new Newark eateries in the area. Amenities for residents will include a rooftop pool and spa, outdoor dining area, fitness center and on-site parking for 156 vehicles, as well as a coffee bar and rooftop lounge.

======================
http://www.roi-nj.com/2018/02/14/real_estate/newark-building-boom-continues-80m-tower/