Plans by a Newark-based developer to construct a new mixed-use development at an intersection in the city’s downtown could soon gain the necessary permissions to advance.
101 Market Street Urban Renewal, LLC, an affiliate of RBH Group, is planning a 14-story building that would likely bring major changes to the corner of Washington and Market Streets. The company, which was behind Teachers Village, is looking to construct the building at 93-95, 97-99, and 101-103 Market Street along with neighboring 233-237, 239, and 241-251 Washington Street, according to a legal notice.
The RBH Group is planning for the development to include a total of 226 residential units. Retail space is being proposed for the ground floor while 41 basement parking spaces, a lounge and roof deck for residents, bike storage, a fitness and recreational amenity room, and private terraces are also in the works.
“As currently contemplated the project will be 30% affordable by area,” RBH Group spokesperson Lonnie Soury told Jersey Digs, adding that “due to [the] availability of public investments, this may revert to 20% at a later date.”
The residential portion of the project is expected to consist of studios and units with one, two, and three bedrooms, according to Soury, who confirmed that this development would be part of the Four Corners Millennium Project.
During its meeting on Monday, June 3, at 6:30 p.m., the Newark Central Planning Board is scheduled to hear 101 Market Street Urban Renewal, LLC’s application for Preliminary and Final Site Plan Approval. Multiple variances, including one for insufficient parking, are also being sought.
Jersey Digs exclusively obtained renderings for the project that show that the proposed development would replace all of the existing buildings on the six tracts that make up the site. City tax records show that the premises, which are located across the street from the old Bamberger’s building and a few blocks south of the underground Washington Street station on the Newark Light Rail, are owned by affiliates of the RBH Group, with the exception of Gambert Realty’s 233-237 Washington Street.
The buildings at the site have had varying uses over the years. Some, such as 241-251 Washington Street, have long sat vacant, with previous tenants including a furniture store and a hair salon. Meanwhile, others have been home to the Index Art Center, the Newark Bike Exchange, Gambert Custom Shirts, the Seed Gallery, and Art & Artifacts of Newark.
The ages of the existing structures also vary. Records posted by the National Park Service show that 97-99 Market Street dates back to 1890 and that it is “one of the oldest buildings on the westernmost block of Market Street.” However, the building at 239 Washington Street is from 1880 while the neighboring structure is from 1920.
This is not the first recent development plan for the site as part of the Four Corners Millennium Project. Previously, there was a 40-story office tower that had been envisioned for the corner of Washington and Market Streets while other renderings were posted for a proposed 24-story building. The RBH Group’s website also features a rendering for a development on the premises that is quite different from the one that is currently being planned.
Note to readers: The dates that applications are scheduled to be heard by the Newark Central Planning Board and other commissions are subject to change.