One-Story Newark Building Could be Expanded into 40-Unit Development

502 Market Street Ironbound Newark
Site of possible redevelopment: 502 Market Street in the Ironbound, Newark. Photo via Google Maps/Street View.

Nearly half a year after the home of a Newark auto repair business was sold for $956,000, the new owner of the property in the city’s East Ward is expected to go before the Zoning Board of Adjustment (ZBA) in connection with a plan to redevelop the site.

Representatives for KS 502 Market Street, LP are scheduled to appear in front of the ZBA on Thursday, March 5, at 7:00 p.m. to seek Preliminary and Final Site Plan approval for the proposal involving 502 Market Street. Variances such as height and lot coverage are also being sought.

The existing one-story building at the site, which is located at the corner of Monroe Street in the Ironbound, could be redeveloped and expanded into a six-story complex with 40 residential units, according to a public notice. The tract, also known as 7 Monroe Street, has long been home to Empire Auto Body and is situated not far from Riverfront Park.

The news of this proposal comes several months after details about a similar plan by KS 556 Market Street, LLC for the nearby Lusitana Auto Body site at 556 Market Street were released. KS 502 Market Street, LP is registered out of 556 Market Street.

Note to readers: The dates that applications are scheduled to be heard by the Newark Zoning Board of Adjustment and other commissions are subject to change.


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