BrazenMuse
01-18-2008, 06:11 AM
interesting article. Will it help? How many of the office bldgs in Newark are rented to 100%? So many NY buildings are not. Will people move there? Is this the right move for the ongoing "gentrification" of Newark?
hmmmmm...
Now, 10 years after he cut the ribbon on the $187 million arts center, Mr. Goldman, its president, is selling another dream: a shimmering tower opposite the arts center that would bring downtown Newark its first new residential construction in at least four decades.
On Thursday, Mr. Goldman and a Philadelphia developer announced plans for a $150 million mixed-use project that would include retail space, indoor parking and up to 300 market-rate rental apartments, 20 percent of them reserved for artists whose rents would be subsidized.
The developer, Dranoff Properties, a company with a reputation for breathing new life into low-end neighborhoods through high-end apartments, says the proposed building, 2 Center Street, would include a lap-swimming pool, wine storage, “private dining salons” and the kind of luxuries that might lure wealthy suburbanites into urban centers.
“If you build it, they will come,” said Carl E. Dranoff, the company’s president, who recently converted a boarded-up RCA factory in Camden into a rental building with 340 apartments, almost all of which are spoken for, he says. “This will not be some run-of-the-mill project,” he said. “It will be highly visible, and when you approach Newark, it will be a vivid icon on the skyline.”
http://www.nytimes.com/2008/01/18/nyregion/18newark.html
hmmmmm...
Now, 10 years after he cut the ribbon on the $187 million arts center, Mr. Goldman, its president, is selling another dream: a shimmering tower opposite the arts center that would bring downtown Newark its first new residential construction in at least four decades.
On Thursday, Mr. Goldman and a Philadelphia developer announced plans for a $150 million mixed-use project that would include retail space, indoor parking and up to 300 market-rate rental apartments, 20 percent of them reserved for artists whose rents would be subsidized.
The developer, Dranoff Properties, a company with a reputation for breathing new life into low-end neighborhoods through high-end apartments, says the proposed building, 2 Center Street, would include a lap-swimming pool, wine storage, “private dining salons” and the kind of luxuries that might lure wealthy suburbanites into urban centers.
“If you build it, they will come,” said Carl E. Dranoff, the company’s president, who recently converted a boarded-up RCA factory in Camden into a rental building with 340 apartments, almost all of which are spoken for, he says. “This will not be some run-of-the-mill project,” he said. “It will be highly visible, and when you approach Newark, it will be a vivid icon on the skyline.”
http://www.nytimes.com/2008/01/18/nyregion/18newark.html