NEWARK, NJ | CitiSquare Newark (11 Buildings) - 4,200 Units - Page 3

chris08876 · #41 Posted **Apr 11, 2019, 6:42 PM**

Indeed. One of the biggest projects for Newark in recent memory. Big time change coming! I was looking at the pipeline, and some healthy amount of units being added to the city, spread out. North Ironbound is seeing some additions, right next to Branch Brook park, and some portions near RU Newark/NJIT. Couple of conversions as well (hotel/office/residential) of existing stock.

I hope it accelerates, because Newark is a good opportunity that has kinda lagged relative to the big NY/Jersey City boom.

NYguy · #42 Posted **Aug 28, 2019, 4:13 AM**

Don't know when it happened, but it had to have been in the last week or two, maybe when I was away. Anyway, the long delayed demolishment of the stadium is nearly complete.

chris08876 · #43 Posted **Sep 4, 2019, 10:07 PM**

Credit: Jersey Digs

chris08876 · #44 Posted **Sep 24, 2019, 4:29 PM**

Want to transform Newark? Then the city, N.J. need to offer up incentives, longtime developer says

Quote:

Riverfront Square, Newark’s most ambitious redevelopment, plans to create a new 12-acre mixed-use community that is vibrant, pedestrian friendly and responsive to the needs of today’s residential and commercial populations. The plans bring together four world-class architects to lead the redevelopment of Newark’s Bears Stadium, transforming one of the downtown area’s most important sites into a thriving 24/7 community. The proposed project is expected to provide up to 2,000 residential units, 1.5 million square feet of office space, large and small-scale retail, dedicated cultural spaces and approximately five acres of public open space in the emerging Broad Street Station section of downtown.

Beyond Riverfront Square, Newark is poised to be the beneficiary of more than $2 billion of recently completed and pipeline development projects, including One Theater Square, Walker House, 50 Rector Park and Audible’s Innovation Cathedral, among others. Each of these projects will have the ability to capitalize on the city’s unparalleled access to N.J./ N.Y. metro area’s deep talent pool.

Newark’s specific contribution to this talent pool comes from the graduates of Rutgers-Newark and the New Jersey Institute of Technology, making it easy for employers to find talented professionals with the necessary skills that will make Newark the next great innovation hub. These developments have benefited greatly from the public/private partnership model that has encouraged growth across the city, including residential, commercial and retail sectors, but we stand to lose great momentum as the future of this partnership remains uncertain. Newark has not yet reached its critical mass and still needs the support of city and state leadership to encourage future growth.

If we are to truly support Newark as a 24/7, vibrant destination for companies and their employees, then the commitment to housing the city’s growing workforce is of equal importance. Riverfront Square will not only support Newark as a lively residential community with up to 1,300 units of workforce housing and 700 condo units, it will create the density necessary to fill the streetscapes, support local retail and enhance the city’s infrastructure for new and existing residents. However, that density and the infrastructure needed to support it, does not come for free.

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https://www.nj.com/opinion/2019/08/w...oper-says.html

NYguy · #45 Posted **Oct 1, 2019, 1:51 AM**

Stadium and facade all gone now.

chris08876 · #46 Posted **Jan 5, 2022, 3:13 PM**

City Planning Board Approves 11-Building Mixed-Use Development In Newark, New Jersey

Quote:

The Newark Planning Board has approved an 11-building mixed-use complex located on the former Newark Bears & Eagles Riverfront Stadium campus. The 10.5-acre development site hugs the shore of the Passaic Riverfront and will be completed in nine distinct phases as CitiSquare Newark.

CitiSquare Newark is the latest project from Accurate Builders & Developers, which manages and invests in new multifamily properties throughout the east coast. When complete, the project will comprise 4,200 residential units, wellness and coworking amenities, up to 3,000 parking spaces, and 100,000 square feet of commercial space. The latter will include a mix of office suites, retail, dining destinations, and hotel property.

The residential collection will range from one- to three-bedroom rental apartments.

“The City of Newark has an incredible vision for this property and we are thrilled to partner with them on this exciting project,” said Jack Klugmann, president and CEO of Accurate Builders and Developers. “CitiSquare will be a vibrant new lifestyle destination that combines community, culture, dining, green spaces, and a location near mass-transit. Mayor Ras Baraka and Deputy Mayor Allison Ladd deserve a huge amount of credit for getting this project off the ground and we look forward to working alongside them as we create one of New Jersey’s most dynamic new neighborhoods right here in Newark.”

Most recently, the Newark Planning Board unanimously approved proposals for phase one of the development. From Ian Bader Architects, the initial phase consists of two 18-story residential buildings that are connected by a single-story structure.

The residential component will comprise 598 apartments spread across both towers. The single-story volume will contain a new restaurant, retail space, and 15,000 square feet of residential amenities.

The project team has not confirmed when phase one of the development is expected to break ground.

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NYY

Busy Bee · #47 Posted **Jan 5, 2022, 3:46 PM**

Hoping the end product is slightly less South Florida in general appearance, but this is huge. Go Newark!

NYguy · #48 Posted **Jan 14, 2022, 4:39 PM**

https://www.masstransitmag.com/manag...-bears-stadium

NJ: Transit village, with 4,200 apartments, to replace Newark Bears Stadium

Jan. 14, 2022
By Richard Cowen

Quote:

The Newark skyline will get a whole lot taller, now that the Central Planning Board has approved a massive redevelopment plan for construction of 11 high-rise towers and 4,200 apartments at the Newark Bears stadium site.

The Central Planning Board unanimously approved all nine phases of the CitiSquare project at its meeting in December.

Quote:

When fully built out, the transit village at the site of the old Bears stadium on Broad Street will be a cluster of 11 high-rise buildings across the street from Rutgers Business School and within walking distance of the New Jersey Performing Arts Center.

“The City of Newark has an incredible vision for this property and we are thrilled to partner with them on this exciting project,” said Jack Klugmann, President & CEO of Accurate Builders & Developers.

Quote:

The plan calls for 4,200 apartment units to be spread among three, 37-story towers, plus another eight buildings that will be roughly half that size. There will be 100,000 square feet of commercial space, and 2,000 underground parking spots.

The units will be studio, one, two and three-bedroom apartments. The developer is required to set aside 200 units as affordable housing, with 30 of those units produced during Phase I construction.

Quote:

Klugmann said the CitiSquare project will add new energy to downtown Newark. The company hopes to begin construction in the spring.

“CitiSquare will be a vibrant new lifestyle destination that combines community, culture, dining, green spaces, and a location near mass-transit,” he said. “Mayor Ras Baraka and Deputy Mayor Allison Ladd deserve a huge amount of credit for getting this project off the ground and we look forward to working alongside them as we create one of New Jersey’s most dynamic new neighborhoods right here in Newark.”

chris08876 · #49 Posted **Jul 30, 2022, 3:43 PM**

Newark slaps wage mandate on resi megaproject
Deal paves way for 4,200-unit development

Quote:

The developer behind a big Newark project is playing ball with local unions.

Accurate Builders and Developers will pay union wages for its CitiSquare Newark development, NJ.com reported. In exchange, the Newark City Council approved a tax break and other financial help for the massive undertaking on the Passaic waterfront.

The council Tuesday unanimously approved an ordinance containing a property tax abatement. Also, $18 million in assistance will be spread across nine phases of the $2 billion project.

The CEO of Accurate, Jack Klugmann, attended Tuesday’s meeting but did not comment on the approval or provide further details about the project. A construction timeline hasn’t been released publicly.

The Newark Planning Board late last year approved the 11-building complex newark-takes-big-swing-with-11-building-complex/ at a site where the defunct Newark Bears onced played. The project stretches across more than eight acres.

The project’s first phase is to include two 18-story buildings connected by a one-story structure. The phase will include a restaurant, retail space, amenities and 598 homes.

The scope of the full project is vast. CitiSquare Newark will include 4,200 units, 3,000 parking spaces, wellness and co-working amenities and 100,000 square feet of commercial space, divided into office suites, retail, dining and a hotel. About 10 percent of the housing units will be affordable.

Last May, the developer scored a $395 million loan from Madison Realty Capital. Part of the loan was used to acquire properties at the site, where Lotus Equity Group once envisioned a timber residential skyscraper that never materialized.

Bears & Eagles Riverfront Stadium at 450 Broad Street was built in 1999 for $34 million, but the team struggled to draw fans and folded after 14 years. The owners put all of the assets on the market and vacated the 6,200-seat stadium, which was sold in 2016 for $23 million and razed in 2019.

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TRD

dc_denizen · #50 Posted **Jul 30, 2022, 5:26 PM**

most importantly, how many no-show jobs will there be?

wanderer34 · #51 Posted **Jan 30, 2024, 4:21 AM**

I liked the original proposal, and whether or not the original is the final rendering, hopefully that lot can be built before 2030. Newark deserves a monumental project relative to it's size and whether or not the project has a supertall, this lot is right next to the Broad St Station, making it a TOD, and the fact that it's taken so long just to develop is mind boggling at the most, considering that Newark in NJ's largest city, and I believe that Mayor Baraka has worked very hard to get this project off the drawing boards into reality. If the projects gets even taller, then more power to Newark!!!

NYguy · #52 Posted **Jan 30, 2024, 4:52 AM**

Quote:

Originally Posted by wanderer34

I liked the original proposal, and whether or not the original is the final rendering, hopefully that lot can be built before 2030. Newark deserves a monumental project relative to it's size and whether or not the project has a supertall, this lot is right next to the Broad St Station, making it a TOD, and the fact that it's taken so long just to develop is mind boggling at the most, considering that Newark in NJ's largest city, and I believe that Mayor Baraka has worked very hard to get this project off the drawing boards into reality. If the projects gets even taller, then more power to Newark!!!

That stadium was only fairly recently demolished. But there are already other projects rising in Newark, and even more on the way.

Even so, when this particular project gets moving, it will be a phased development.