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Ground Broken for $17 Mil Mixed-Use Project

EAST ORANGE, NJ-State funding will provide most of the money for the downtown project, which will combine retailing with nearly 100 apartment units.

By Eric Peterson | Updated on September 18, 2001

EAST ORANGE, NJ-RPM Development, based in Montclair, NJ, has broken ground for Dr. King Plaza, a five-story complex in the downtown area of this Newark-area city of 70,000. The property will incorporate 96 rental units with a ground-floor retail complex. Most of the apartments will be designated as affordable housing.

The project, which is expected to be ready in about a year, is being built with the help of sizeable state and local incentives and financial assistance. At the local level, RPM will make annual payments to the city in lieu of taxes, with East Orange initially receiving 12.5% of residential rents and 15% of commercial rents. The total annual amount is expected to be in the $225,000 range.

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