NEWARK, NJ–L+M Development Partners and financial heavyweights Prudential Financial, Goldman Sachs and Citigroup joined Newark Mayor Ras Baraka for the groundbreaking on a $174 million renovation of the historic Hahne & Company building in downtown Newark.
The public-private partnership will transform the landmark Hahne's building into an innovative multi-use development that will create mixed-income housing, new street-level retail space and a new arts and cultural center for Rutgers University.
The project, which has had substantial support from local co-developers Hanini Group and Crawford Street Partners, will create hundreds of permanent new jobs and restore the former Hahne's Department Store as a vibrant destination in downtown Newark.
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