Four-story condo project coming to Newark's East Ward

By Naomi Nix | NJ Advance Media for NJ.com
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on November 07, 2014

Newark officials held a ground-breaking ceremony on Thursday for $5 million loft project in Newark's downtown.\

NEWARK — Newark officials held a ceremonial ground-breaking on Thursday of a four-story condominium project in the city's East ward. Lofts at Lincoln Park, located at 90 Clinton Avenue, will include 24 units of two and three-bedroom condominiums and overground parking, the city said in a statement.

Each unit will include two full baths, open kitchens, and hardwood floors.The above-ground parking garage will include room for bicycles, the statement said.

The project is being developed by Lincoln Park Urban Renewal, LLc, formally known as The Mid-Atlantic Investment Alliance.

The $5.19 million project is financed in part through $1.3 million loan from New Jersey Community capital and another $1.3 million loan from the New Jersey Housing Finance Agency, according to the city.

“This project has been three years in the making. Indeed, there are many risks and complications associated with neighborhood redevelopment in the City of Newark," Developer and General Contractor Hassan Keith said in a statement.

"However there are also a great deal of opportunities to change the graphic signs of abandonment and decay that have marred the City’s landscape, into shining new housing developments.”

Newark mayor Ras Baraka echoed similar sentiments.

“The construction and opening of this market-rate condominium project will add to Newark’s prosperity and our position as a destination City for new residents," he said in a statement.

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