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$20M Condo/Retail Project Starts Construction

NEWARK-The 135,000-sf complex will add 67 residential units and a dozen retail spaces to the city's Ironbound section.

By Eric Peterson | Updated on July 16, 2008

NEWARK-A formal groundbreaking ceremony this week officially launched construction for the Continental, a 135,000-sf mixed-use project at the intersection of Ferry and Magazine streets in this city’s Ironbound section. The complex takes its name from a former occupancy of the site, Continental Electric Co., which made generators and alternators at the location.

That former use will be replaced by 67 luxury residential condos and a dozen ground-floor retail spaces, all new construction rising four stories. Also part of the site plan are 77 parking spaces, a roof garden and an exercise room. Carrying a price tag of $19.8 million, the Continental is slated for delivery in the summer of 2009. The project was designed by Dean Marchetto of Dean Marchetto Architects of Hoboken.

The developer is Vision Downtown Urban Renewal LLC, a local group headed by principal Emilio Farina. “About 50,000 people commute to downtown Newark to companies and colleges and universities, and we’ve got to get them to stay here,” he says.

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