Community Renewal Good Stories - Newark

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New Jersey Renewal Community Applies Holistic Approach to Development

Newark, New Jersey, RC

The city of Newark approaches urban renewal as a complex web of needs and resources. By being attentive to the specific goals of residents, business owners, and the local government, they can better match up the many public and private partners and resources needed for successful urban renewal. This holistic approach seeks to balance and harmonize the interests of the commercial districts and those of neighborhoods alike, emphasizing business opportunities and strategies that employ Newark residents, create profit for investors, increase municipal revenues, and enhance overall development throughout the city.

Newark was designated a HUD RC in January 2002 and, according to Richard A. Monteilh, Newark's business administrator, "The RC tax incentive package has had a very positive impact on the city's economic development strategies. Companies that are doing business with the city or are looking to do business with Newark are very excited about the RC program and its benefits."

The city has been working hard since 2002 to promote RC benefits and so far the approach seems to be effective. In 2004 a new shopping center and a new subsidized low- and moderate-income housing development were opened on a major neighborhood commercial corridor.

Another retail complex, anchored by Home Depot and with an additional 30,000 square feet of retail space, is being built with the help of Federal and State grant money for planning, acquisition, and site remediation. The Home Depot project will bring approximately 200 new jobs to the area. A new state-of-the-art regional call center for MBNA will employ an additional 1,500 people from the RC and surrounding communities.

In another area is a 100+ acre redevelopment area that stitches together the James Street Historic District and its surrounding neighborhoods into a vibrant downtown community. This project includes 6,000 housing units and nearly 2 million square feet of office/retail space. Also located downtown are two historically significant buildings-a department store and adjacent office building-which are being adapted into luxury loft rental apartments with 100,000 square feet of ground floor retail space. Another large historic preservation/ adaptation project is the conversion of a historic downtown office building into luxury apartments with a health club, business center, lounge, and bowling alley.

For more information on the programs of the Newark RC, please contact RC Coordinator Angela Corbo at (973) 733-4331.