Developers are looking to transform the New Jersey landscape with these new and exciting redevelopment projects as many of them are coming to fruition.
Development Updates in New Jersey
The Dallas based developer, Crow Holdings, has plans to redevelop the Marcal property, a historic part of Elmwork Park. The paper factory that once stood at this site was destroyed by a massive fire 3 years ago. Crow Holdings and Marcal Paper want to transform this now vacant site into a state of the art industrial building.
Shorewood Real Estate Group and Bridge Investment Group are partnering for the redevelopment of the Ballantine Brewery located in Newark. Plans for the $88M redevelopment project include tearing down the industrial building and replacing it with a 6-story mixed use facility.
Hoboken announced a new vision for the Yards Redevelopment Plan that has been in the works for years. LCOR, the developer for the project, has plans to add new residential and commercial properties in addition to renovating the historic Ferry Terminal and Warrington Plaza.
Developers have plans to transform a part of Essex Plaza in Newark, New Jersey. LIHC Investment Group and Fairstead want to replace a surface level parking lot with a 6-story mixed use development. The residential housing development will include 241 units, 40% of which will be designated as affordable units.
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New Jersey Digest