A legal notice shows that the Newark Plaza Urban Renewal Company, LLC, which is registered out of Boraie Development’s office, is planning for the building to be 33 stories tall and contain 370 residential units. In addition, a “parking structure” and 14,495 square feet of first-floor retail space would be included on the premises, though the plan calls for “fewer parking spaces than are required.” The Newark Central Planning Board is scheduled to hear the proposal for the first time during its meeting on Monday, August 6, at 6:30 p.m.
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Newark planning board OKs proposal.
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That actually looks decent. It’s good to see the area around Prudential Center finally building out
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Shaq claims he’s going to live in the penthouse floor of this building when it’s done
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$28 Million in Tax Credits Will Expand Affordable Housing in NJ
The New Jersey Housing and Mortgage Finance Agency (NJHMFA) recently announced $28M in Federal tax credits that will go toward expanding affordable housing access for families, seniors, and special needs residents. The credits come courtesy of a nine percent Low Income Housing Tax Credit program (LIHTC), which are awarded to developers to build new rental apartments or rehabilitate existing rental units for low-income households.
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There are two projects in Newark that were granted the awards, one of which has a pretty high profile. A 33-story tower from Boraie is scheduled to soon start construction at 777 McCarter Highway, and 74 of its 370 total units will be designated as affordable. NBA legend Shaquille O’Neal is a partner in the venture and is set to live in one of the building’s penthouses when it’s completed.
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Per Reddit.com/r/Newark this is entering the construction phase
https://www.reddit.com/r/Newark/comments/iuuy5t/777_mccarter_has_officially_begun_32_floors/
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photo from Wired New York user “Newarkguy”
http://wirednewyork.com/forum/showthread.php?t=3727&p=462645&viewfull=1#post462645
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from Newark Reddit
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Newark is such a toilet.
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Stache—That’s really unfair. Don’t forget that lots of human beings live there. I worked in Newark at one point in my career and still have friends there. There is much good to be said about the place despite its rugged history since the 1950s. Let’s look at the bright side of an improving city.
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I don’t see how that’s unfair. I worked there too, ten years ago plus I had a crown put in at NJ dental school prior to that. I have seen large areas of that city and I’m not getting any impression of real improvement.
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Toilet connotes all sorts of images that simply aren’t right. Sure there are parts of the city that are in bad shape, including some not rebuilt since the urban uprisings in the 1960s. But “toilet?”:Sorry that doesn’t sit well, at least with me. In any case, let’s move on by getting back on topic. Thanks.
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Newark native Shaquille O’Neal and Boraie Development are partners on Shaq Tower. Photo by Chris Fry/Jersey Digs.
O’Neal is slated to live in one of the building’s penthouses. Photo by Chris Fry/Jersey Digs.
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