Posted Jan 14, 2022, 4:39 PM
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New Yorker for life
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Join Date: Jul 2001
Location: Borough of Jersey
Posts: 51,838
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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
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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.
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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.
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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.
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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.”
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