The developer behind the Artside mixed-use residential complex in downtown Newark is moving forward with a plan to redevelop five empty parcels into housing and retail along Springfield Avenue in Newark’s West Side neighborhood. At the city’s planning board meeting held on July 21st, officials voted to approve a plan for a new 4-story building at 508-516 Springfield Avenue.
Plans made public by the city’s planning board reveal that MCI Collective has been given the green light to erect a mixed-use building spanning 33,246 square feet. The second through fourth floors of the building will contain 35 apartments, including 12 affordable units for individuals earning between 40% and 80% of the area median income, as well as 1,888 square feet of retail space.
MCI Collective estimates that the project, known as Deneen Estates, will cost $8.5 million to develop and that construction will commence in the second or third quarter of 2026.
A staff report from the city’s planning board notes that the development site has 120 feet of frontage along Springfield Avenue. There is an empty parcel across the street at 521 Springfield Avenue that is next to dilapidated buildings.
Jersey Digs reported in 2016 that a 122-unit project was planned for 521 Springfield Avenue, but MCI Collective now lists that parcel as another one of its projects, known as Springfield Commons.
The company acquired that parcel for approximately $116,000 from the city as part of a redevelopment agreement that included nine other properties. The developer said that project will cost approximately $14.2 million and deliver 52 apartments after 2026.
MCI Collective has been the owner of the assemblage at 508 – 516 Springfield Avenue since 2024, but records made public by the Essex County Register show that the assemblage was owned by the city of Newark since the early 1990s due to a settlement.
The parcels were transferred to MCI Collective as part of the Equitable Investment in Newark Communities program that was launched in 2023. That program issued request for proposals for five different assemblages across the city in March 2023. MCI did not return a request for comment from Jersey Digs.
