NEWARK, NJ—Newark Mayor Ras J. Baraka joined a public-private sector consortium of representatives from Newark Community Economic Development Corporation, Newark Downtown District, Edison Properties, J&L Companies, and Prudential Center on Wednesday to unveil Mulberry Commons, a $100 million redevelopment plan for the downtown Newark area currently referred to as Triangle Park.
“The development of Mulberry Commons and the Mulberry Commons Park will be a major asset for the City of Newark,” says Baraka. “This project represents another step towards showing the best of what our city has to offer. The 22-acre site will not only enhance our tax base and boost our economy, but it will also bring jobs, commerce, housing and green space for all Newarkers to enjoy. The collaboration between the multiple stakeholders that have come together for this endeavor symbolizes a new era for Newark. Mulberry Commons will allow us to put financial power behind our commitment to Newark's neighborhoods and communities, and will inspire and empower Newarkers for decades to come.”
Mulberry Commons will be transformed into public, open space—Mulberry Commons Park—and retail establishments, restaurants and commercial spaces, while also linking the space more effectively with the city's Ironbound and downtown neighborhoods near Newark Penn Station.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.