The new offshoot in NYC and JC…. Literally. Via Reddit.
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Found some stuff regarding a “Paramount Tower” proposal to replace the decaying Paramount Theatre in downtown Newark. The facade will be preserved, however, and was allegedly approved by the LPC.
The site address is at 12 Beaver Street in Newark, NJ.
Digging through some LPC agenda documents, I found the proposal which does mention the 28-story increase from its previous height and theatre facade restoration.
Additional Documents:
- Application to the LPC for the project
- Construction report with additional renderings and information
Original Proposal:
New Proposal:
Its height has been increased to 310 ft and 28 stories from the original 189 ft and 14 stories and 457 units along with mixed-use storefronts at the base.
Here’s some images from a meeting I found regarding changes to the project.
(Source)
The alleged reason for the height boost was for better chances of receiving the Apsire Tax Credit which would increase the chances of this materlializing.
As for the theatre facade, the sign would receive renovations and the neon restored to light up at night in addition to the restoration of the preserved theatre facade.
The original proposal before the changes above were made can be accessed below.
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729 Broad Street
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NEWARK — Construction of a cultural hub with 250 apartments, retail space and a gallery at the Newark Museum of Art is set to move ahead following City Council’s approval on Tuesday of a tax incentive for the project’s developer, L+M Development Partners LLC.
The City Council authorized a 25-year-long tax abatement to NMA Owners Urban Renewal LLC, of Larchmont, New York, an L+M entity, for the project to consist of 200 market-rate apartments, 50 affordable residential units, 2,598 square feet of ground-floor retail space and a 4,216-square-foot gallery to be leased and run by the Newark Museum.
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80 Freeman Street
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A post was merged into an existing topic: NEWARK | Iberia Phase I | FT | 30 + 30 + 26 + 26 FLOORS