NEWARK, NJ-A host of business leaders and politicians, including New Jersey Gov. Chris Christie and Newark Mayor and US Senate hopeful Cory Booker, were on hand today for the official opening of the first two buildings of the $150-million Teachers Village development here.
Also part of the ribbon cutting were developer Ron Beit of RBH Group; Esta Stecher, CEO of Goldman Sachs Bank USA; and Prudential Financial Inc. CEO John Strangfeld.
The two completed buildings house three charter schools, a daycare center and 25,000 square feet of retail. They are among eight buildings that will span five blocks of Halsey Street, on sites that were mostly parking lots and blighted buildings, according to NJBiz.com.
“Eighteen months ago, this was a vacant parking lot. Today, two brand new buildings house three schools and a day-care center, which are already infusing the area with vitality and energy. Today, you see three new housing sites under construction and over the next few months you will see over 200 units of workforce housing for Newark-based teachers,” Beit stated. “And we are well underway in bringing in exciting retail options to support the students, teachers, staff, parents and the overall Newark community who are breathing life back into this neighborhood.”
At the ribbon cutting event, Beit acknowledged the project's investors and financial partners, “without whom, Teachers Village would be a great idea but nothing more,” he noted. Nicolas Berggruen, BRT Realty Trust, Frederick Iseman and Steel Partners were among the early entrepreneurs in the project. Teacher's Village financial partners included the Goldman Sachs Urban Investment Group, Prudential, TD Bank, New Jersey Community Capital, the New Jersey Economic Development Authority, the Casino Reinvestment Development Authority, the City of Newark and Brick City Development Corporation. See story at NJBiz.com.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
