newark

New Jersey, Policy, real estate trends

Photo courtesy of Robert Scoble on Flickr

Amazon’s nationwide competition to find a home for its second headquarters draws to a close this week, with pitches from stakeholders due Thursday. While New York City meets most of the requirements the tech giant listed for its HQ2– a population of at least 1 million people, proximity to an international airport, mass transit access and talented workforce–business costs in the city would be sky-high. However, as Crain’s reported, even if Amazon does not set up shop in NYC, politicians and developers have been preparing for a comparably-sized company to move in for over a decade. The failure of the city to win the 2012 Olympics bid back in 2005 actually turned into a success, allowing apartments to rise in Brooklyn where sports stadiums never did.

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Architecture, New Developments, New Jersey, Starchitecture

Richard Meier, RBH Group, Teachers Village, downtown Newark

Residential Building VII, via Scott Frances

With Hoboken long gone and Jersey City well in the throes of gentrification, it makes sense that Newark is the next New Jersey city poised for a renaissance. Not only is it easily accessible via both NJ Transit and the PATH, but its wealth of former industrial buildings lend themselves to a DUMBO-esque revitalization. In the up-and-coming downtown area, Newark native Richard Meier is behind Teachers Village, a 23-acre, mixed-use complex that is well on its way to restoring a sense of community to the neighborhood. The $150 million project will encompass three charter schools, ground-level retail, and 204 residential units with a preference given to educators, all located in six new buildings designed in the starchitect’s signature style of white materials and gridded facades.

All the renderings and details this way

New Jersey

Change is coming quickly for Newark, New Jersey, where many are pegging the long-troubled city for a renaissance akin to Brooklyn’s. In January, city officials and developers unveiled their plans for Mulberry Commons, a 22-acre development in Newark’s downtown that would not only bring forth new residential, commercial, and office space*, but also a three-acre park and a High Line-style pedestrian bridge that would connect the Ironbound neighborhood to Newark Penn Station and the central business district. According to the Newark Department of Economic & Housing Development, the city is expected to benefit in excess of $500 million from the project.

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