Vital Newark Real Estate Projects March On, Despite Coronavirus

NEWARK, NJ — Despite the coronavirus pandemic, the ball is still rolling for several real estate projects in a Newark neighborhood that deserves a breath of fresh air, city officials said Monday.

According to officials, there are six small developers who are working to give new life to a 21-block stretch of the city’s west side, an effort that has been dubbed the West Side Neighborhood Development Plan.

The area includes 21 blocks between South Orange Avenue and West Side Park in the West Ward. The boundaries are South Orange Avenue on the north, Ashland Avenue and South 13th Street on the east, 16th Avenue on the south and South 20th Street on the west.

Officials said the neighborhood has high rates of foreclosures and many underwater properties worth less than what’s owed on them. It also has abandoned and deteriorated properties, vacant lots and few affordable housing choices.

But mixed in with the blight is a foundation of community spirit, officials added.

“At the same time, the area has West Side Park and West Side High School,” city officials stated. “It has many homes and blocks that are very well cared for interspersed with the deterioration. It has owners who take pride in their community and confidence in its future.”

Officials noted that three of the six developers are women, a good sign for a city that strives for equity, according to Mayor Ras Baraka.

“Minority and women small developers are eager to redevelop neighborhoods that the downtown developers ignore,” Baraka said. “We provide them with opportunity to do so by selling land at low cost, providing grants to first-time home buyers, providing subsidies and streamlining regulations.”

When they're just starting out, some smaller developers may lack the capacity or know-how to get projects off the ground, Baraka said.

“Here in Newark, we teach them how,” he emphasized.

“Small local developers are critical to our goal of assuring that Newark’s growth is equitable and that residents benefit from the surge of investment here,” Baraka said. “They build wealth in the community, provide jobs for residents, and have a personal stake in shaping a prosperous future for our city. And we are confident that before long, some of these small developers will become big developers.”

Baraka and West Ward Council Member Joseph McCallum will hold a virtual community meeting to discuss the plan on Thursday, July 30 at 7 p.m. via the City of Newark’s Facebook page. During the meeting, the developers will offer more details about their career paths, as well as their individual projects. (Learn more here)

• See related article: Newark Seeks Developers To Create More Affordable Housing
• See related article: NJ Land Banking Law Will Help Newark Combat Blight

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