Most of the applications that have been filed over the last few years for new developments in Newark’s Ironbound neighborhood have been for properties within a short walk of Newark Penn Station. However, one developer is now seeking to construct a mixed-use development in the community that would be over a mile and a half away from the transportation hub.
PM Consulting LLC, which is registered out of the Lucky Plaza building, has applied to the Newark Zoning Board of Adjustment (ZBA) for Preliminary and Final Site Plan approval with variances such as density, insufficient lot area, and excessive number of signs as part of the company’s new proposal for a small East Ward property. According to a legal notice, a four-story building is on the books for 520-526 Ferry Street, a .124 acre tract that is surrounded by Ferry Street, Cortland Place, and Fleming Avenue. If granted approval with all of the requested variances, the new development would contain 10 residential units atop 1,307 square feet of first floor commercial space.
The site is located in the East Ferry section of the Ironbound neighborhood within a few yards of New Jersey Transit bus service on the 1 and 108 lines to Downtown Newark, Union City, Journal Square, Exchange Place, and Manhattan. Currently, the tract contains a one-story vacant structure that is covered in graffiti. Up until around a decade ago, the building was occupied by a pizzeria, but it has sat empty in the years since. NJ Parcels sales records show that PM Consulting acquired the property in October 2017 for $35,000 from the Tall Bridge Asset Backed Fund.
The ZBA is scheduled to conduct a public hearing before voting on this proposal during its meeting this Thursday, March 15 at 7:00 p.m.
