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Real Estate Journal — Northern New Jersey — December 9 - 22, 2016 — 3B
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Practice for Architecture and Urbanism to create mixed-use neighborhood Lotus Equity Group closes on acquisition of former Bears & Eagles Riverfront Stadium N
ties and brings new living and working options to current residents, students and those looking to make Newark their home. We have many devel- opment projects underway throughout Newark and are pleased to have Lotus and the Practice for Architecture and Urbanism work with us as we continue to rebuild our City.” The project reflects a long- standing commitment to New- ark by Lotus Equity Group CEO Ben Korman that began 10 years ago with his invest- ment in 2 Gateway Center. “We are extremely excited to continue our decade-long history of investing in Newark by delivering a dynamic and sustainable development to the City’s downtown that will cre- ate a pedestrian-friendly and vibrant atmosphere for exist- ing and new residents to live, work, and play,” said Korman. “This truly is a premier site of- fering unparalleled connectiv- ity in the heart of a culturally
rich and diverse community, and we look forward to collabo- rating with the City to realize its transformation into a 24/7 neighborhood destination.” Added Korman: “Our selec- tion of Vishaan Chakrabarti, and his team at PAU, to create the master plan for this project exemplifies our commitment to ensuring this project will be a world-class development of which Newark and its resi- dents will be proud.” “We are thrilled to partici- pate in the ongoing rejuvena- tion of Newark at this critically important site for the city and the region,” said Chakrabarti. “Offering extraordinary con- nectivity to both transit and broadband, this site and the mix of uses proposed for it, of- fer the potential to make New- ark part of the region’s 21st century innovation economy, while harkening back to the roots of Newark’s rich history of density, culture, production and leisure.” n floor plates with polished con- crete floors, heavy floor load capacity, 13’-high ceilings, and individually controlled energy-efficient HVAC units. Clients can also access a 5,000 s/f roof deck and lounge, along with a 5,000 s/f indoor event space. The complex also offers a dedicated trailer-loading area for ground-floor shipping and receiving, two passenger freight elevators, and high- speed Wi-Fi and phone capa- bilities. Kearny Point is also a pet-friendly community, a policy that complements its friendly, relaxed atmosphere. In total, the Kearny Point project will reactivate more than two-million s/f of in- dustrial space, making it one of the largest and most economically significant re- developments in the region. In subsequent phases, Kearny Point will include a host of indoor/outdoor common areas, including ‘green’ waterfront park space. n
KEARNY, NJ — Hugo Neu announced the opening of Kearny Works (shown), a fully-furnished, modern co- working space in Building 78 at Kearny Point. The launch of Kearny Works coincides with the opening of the Dry Dock Bistro, a nouveau American bar and grill located on the building’s ground floor. Kearny Point is the inno- vative redevelopment of the historic Kearny shipyard, now reborn as a modern workplace home to a diverse community of pioneering businesses. The complex is located less than five miles from Manhattan and adjacent to Jersey City’s West Side. Kearny Works is a sleekly designed 20,000 s/f co-working facility, composed of 20 shared desks along with 50 individual suites, which can accommo- date one-to-25-person busi- nesses. Additional features include five fully equipped conference facilities, Wired- EWARK, NJ — May- or Ras Baraka and real estate develop- ment company Lotus Equity Group announced that Lotus has closed on its acquisition of the former Bears & Eagles Riverfront Stadium in New- ark. Lotus purchased the site from the City of Newark and Essex County and has selected the Practice for Architec- ture and Urbanism (PAU) – founded by noted planner and architect Vishaan Chakrab- arti – to create a master plan that will transform the stadium and more than 7.5 acres of surrounding land into a vibrant mixed-use neighbor- hood. Preliminary concept plans call for the development of approximately 2.3 million s/f of residential, office, retail and cultural space. The site’s location along Broad and Orange Streets is highly accessible to commut- ers, residents, students and
Bears & Eagles Riverfront Stadium
Score Platinum Certified di- rect fiber internet and high- speed Wi-Fi, private phone booths, full-service printing and scanning capabilities, and an expansive communal kitchen. Members will also have access to Kearny Point’s free on-site parking. “Kearny Works reflects our mission for the Kearny Point community: to foster a vi- brant, creative work atmo- sphere in beautiful spaces, and at a fair and accessible price point,” said Stephen Nislick , CFO at Hugo Neu. “We think that every com- pany – regardless of size or scope – should have access to a flexible and technologically advanced workspace that puts them in a position to succeed.” Coinciding with the launch of Kearny Works at Building 78 is the opening of the Dry Dock Bistro, the building’s ground-floor bar and grill. The 2,500 s/f restaurant serves specialty cocktails, micro- faculty. The new development will be less than 500 feet from the NJ Transit Broad Street station -- from which Midtown Manhattan can be reached in just 18 minutes -- and will be directly in front of the Newark Light Rail Atlantic Street sta- tion. The site is just seconds from I-280 and sits at the foot of University Heights. The project is extremely
well-positioned to serve as a catalyst of downtown Newark’s revitalization. “The Lotus development project will bring jobs, housing and new opportunities to New- arkers,” said Mayor Baraka. “Newark is in the midst of a major revitalization effort that is transforming our entire City. This project anchors our downtown development activi-
Hugo Neu announces opening of co-working space Kearny Works and Dry Dock Bistro at Building 78 at Kearny Point
brews, sandwiches, paninis and salads, breakfast dishes, and coffee provided by NYC roasters Kobrick Coffee Co. Kearny Point was once one of the world’s most prolific shipyards during World War I and II when it operated as the Federal Shipbuilding and Dry Dock Company. Hugo Neu is in the midst of a multi-phase redevelopment to transform
130-acre industrial complex. Its renewed work environ- ment is situated only minutes fromManhattan, but comes at a fraction of the cost of leasing in New York City, Newark, Hoboken or Jersey City. Kearny Point is anchored by the revamped Building 78, which features loft-style flex- ible office spaces. The four-sto- ry building features 40,000 s/f
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