The skyline of the Brick City continues to evolve at a pace not seen in generations and the latest development slated for a prominent block of Downtown has been given the full green light.
During their Marcy 28 meeting, Newark’s Zoning Board of Adjustment approved an application for Summit Tower by a 5-2 vote. The plans come courtesy of KS Group, a local developer with several Newark projects in the pipeline.
The approved tower is slated to rise at 200-206 Market Street, properties that are currently home to older structures that have sat vacant for at least two decades. Jersey Digs broke the news about the project last October after Newark’s Landmark & Historic Preservation Commission signed off on the application.
The properties are located within the Four Corner Historic District, which is listed on both state and federal designations. The approvals from the historic commission last year came with a catch, as the board wished to slightly downsize the proposed 46-story development to be shorter than the National Newark building.
As a result, the approved application from the zoning board calls for a 41-story tower that tops out at just over 514 feet. Summit Tower, which stretches the entire block back to Edison Place, is designed by INOA Architecture, a firm that has worked on several other prominent Newark developments including Halo.
514 residential units are included in the approved plan, down a bit from the initially proposed 579. 20 percent of the units will be reserved for affordable housing, and the development will include 142 parking spaces in a garage for future residents.
The development will add a retail storefront along Edison Place and add to a row of bars and restaurants that have popped up in recent years across from the Prudential Center that include Redd’s Biergarten.
Amenities for residents in the future Summit Tower will include a gym, lounge spaces, a foosball area, a golf simulator and a children’s room.
KS Group says demolition of the existing buildings at the property is slated to begin later this year, but a firm timeline for vertical construction of the eventual new tower has not yet been announced.
