A parking lot in Newark’s South Ward that is owned by the City of Newark might not be undeveloped or under municipal ownership for much longer.
The Newark Municipal Council adopted a resolution on September 22 authorizing the sale and redevelopment of 256-262 Lyons Avenue, a property located at the corner of Clinton Place in the Weequahic neighborhood.
The resolution states that the tract is expected to be sold for $46,040 to Freeman Street-based Tactical Development Group, LLC through a private sale. It notes that the company has proposed a development with 32 residential units, retail space, and parking, adding that the apartments would be “affordable and market rate rental units.”
The property has an assessed value of $310,500, according to the resolution.
A website for a company branding itself as TACTICAL Development Group says that it was founded by Tolani Onigbanjo, Antonio Hawthorne and Cameron Fontaine who are “answering the call to action from Mayor Ras Baraka for Newark, NJ residents to purchase and invest in city-owned properties, vacant lots and procure contracting opportunities.”
The premises are situated within a few blocks of George Washington Carver Elementary School, the Bruce Street School for the Deaf, New Jersey Regional Day School, St. Peter’s Park, and Newark Beth Israel Medical Center. An ordinance that was adopted back in 2009 authorized leasing 256-262 Lyons Avenue to the hospital.
New Jersey Transit’s 13, 37, and 107 bus lines to Irvington, Downtown Newark, Clifton, South Orange, and Manhattan serve the area.