Newark is building again. Yes, that Newark—the city in Jersey that burned after the ’67 riots, the one that helped to define “white flight,” that struggles still with almost impenetrable unemployment and homelessness and crime. That city is building.
One developer is betting big that the downtown is about to come back. 33 transactions and $130 million later, he and his partners had amassed 79 properties, eight of those destined to become Teachers Village.
The rest lie in wait for the next phases of the plan: a hotel; more residential, retail and office space; even an aeroponic farm smack in the middle of the city.