William Flats, new residential and retail space, opens at 15 William Street in Newark
Published December 10, 2018 | Manny Faces
A new 37-unit luxury multifamily rental property with storefront commercial space has opened at 15 William Street, at the corner of William and Broad Streets in Newark.
A December 5, 2018 ribbon-cutting ceremony celebrated the official grand opening of William Flats, an mixed-use redevelopment that transformed the former United Women’s Garment Workers Union headquarters into a completely renovated residential and retail property.
“In developing William Flats,” said Richard Dunn, senior vice-president of Paramount Assets, the firm behind the development, “our goal was to create a multifamily offering that complements the surrounding neighborhood and symbolizes the continuation of Newark’s revitalization.”
The apartments at Williams Flats are said to include high ceilings, efficient heating and cooling systems, washers and dryers outlets, a secure package room for deliveries, as well as a recreation area and gym.
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The street level retail space is expected to include Santander Bank and 7-Eleven, with space for additional commercial tenants.
William Flats, yet another sign that Newark is continuing its transition from blighted city to revitalized metropolis, was brought to life by Paramount Assets, a firm with a 40-year history renovating unused or vacant downtown properties. The company seeks to, when possible, preserve and highlight the historical features of these buildings, while ensuring that modern conveniences and sensibilities are included in the redesigns. William Flats, for example, kept the look and feel of its “distinctive façade,” but also added “green” architectural elements, including a courtyard, a vertical garden, and a landscaped deck.
“We are proud that Newark will realize sustainable benefits from the transformation of this landmark property for many years to come,” said Dunn.
William Flats residential offerings include studio, one and two-bedroom apartments.