The first phase of Mulberry Commons, spanning Prudential Center to Newark Penn Station, is scheduled to open in September of 2018.
A stroll through the historic neighborhood with the residents who (really) love it.
On the ground in the blocks near Sussex Avenue and Norfolk Street.
A new children’s library is one of a series of improvements that have been made to Georgia King Village, located in Newark’s West Ward, since developer L+M Development Partners purchased the buildings back in 2016.
Ironside Newark, one of the signature features of the new Mulberry Commons development downtown, got off to its official start earlier this week.
What is it like to live downtown Newark? Soon, those who are curious will have an opportunity to get a glimpse of downtown living for themselves.
On Tuesday, January 17th, community stakeholders, including government officials, leaders, non-profit organizations the public at large are invited to participate in a set of live presentations and community feedback sessions about Triangle Park.
Fidelco Realty Group joined Mayor Ras Baraka, and other county, state and city officials, and community leaders to celebrate the addition of 10 stories – including 650 parking spaces, two additional stories for Cablevision’s call center, 4,500 square feet of future retail space, and a renovated lobby — at 494 Broad Street.
The renovation is the most recent project of Fidelco Realty Group’s ongoing renewal projects in the Washington Park market, which they hope to convert into a vibrant commercial, retail and residential destination. The cost of the new building and renovations of the existing structure totaled more than $60 million and includes participation in the Urban Transit Hub Tax Credit program through the NJEDA; New Market Tax Credits provided by U.S. Bancorp Community Development Corporation, New Jersey Community Capital, City Scape Capital; and financing from U.S. Bank.
“494 Broad Street is a critical location contributing to the ongoing growth and vibrancy of Newark’s downtown Washington Park business district,” said Marc E. Berson, chairman of Fidelco Realty Group. “With the New Jersey Transit Broad Street Station, Newark Museum, Newark Public Library, Rutgers Business School, 1 Washington Park office tower, and multiple light rail stops as neighboring assets, potential tenants from near and far are looking at the North Broad Street area of Newark as an ideal location for their business.”
The façade of the existing six-story office building has undergone complete resurfacing – replacing existing marble with black granite panels, and adding black awnings around the bases of the building with additional exterior lighting and signage.
“We are proud of Fidelco Realty Group’s work and the 494 Building Extension project. Fidelco has been an outstanding corporate partner in Newark’s growth and development, and this project will bring jobs and economic strength to Newark,” Mayor Baraka said.
Bordered by the Newark Broad Street station, Riverfront Stadium, Rutgers Business School, Washington Park and Fidelco Realty Group’s flagship property – the 1 Washington Park office tower – the building was originally constructed by Mutual Life in the 1960s, and was designed by the architectural firm Frank Grad & Sons.
“Newark’s Washington Park district is a diverse and flourishing area that is rich in history and filled with cultural, educational and business opportunities. The addition of the newly renovated and expanded 494 Broad Street will further strengthen the area, create jobs and contribute to the vitality of the City,” Essex County Executive Joseph N. DiVincenzo, Jr. said.
The building now provides a home to a Genova Burns, Cablevision, Fidelco Newark, Leadership Newark, Martini 494 Bistro, Newark Trust for Education, NJ Seeds, and Rutgers University, among other tenants.