Newark Apartment Building Opens With 89 Affordable Housing Units

NEWARK, NJ — A newly opened, mixed-use building in Newark is providing affordable housing to 89 local residents and their families, officials say.

Earlier this week, a grand opening was held for Boulevard West, a four-story, mixed-use building with retail and apartment spaces at 220 Irvine Turner Boulevard. The complex is located on a section of the vacant, former New Horizons public housing site.

According to a news release from the New Jersey Department of Community Affairs (DCA), the one- to three-bedroom apartments at Boulevard West will serve residents earning up to 60 percent of the area median income.

The 89 apartments are fully occupied, with rents ranging from $568 to $1,469 per month, the DCA stated on Wednesday. However, some of the 5,000 square feet of retail space on the first floor of the building is still available for rent.

The apartments, co-developed by The Michaels Organization and the Newark Housing Authority, were financed in part by the New Jersey Housing and Mortgage Finance Agency (NJHMFA).

The NJHMFA provided $20.8 million in permanent and construction financing from its conduit bond program, and awarded 4 percent Low Income Housing Tax Credits, which generated $15.7 million in private equity.

Boulevard West is the first of other developments expected to take place on the New Horizons site and Felix Fuld public housing site, which currently stands vacant, according to the DCA.

“Boulevard West is a shining example of how we are successfully redeveloping vacant lots to open new doors for our young and emerging workforce as well as our older residents living on fixed incomes in New Jersey,” said Lt. Governor Sheila Oliver, who also serves as DCA commissioner and chairperson of the NJHMFA board.

“I commend the public and private partners who have created yet another amazing, affordable, mixed-use housing opportunity,” Oliver said. “Together we are creating a stronger and fairer New Jersey for all residents, regardless of income level.”

“Safe and affordable housing is critical to enabling children and families to flourish,” NJHMFA Executive Director Charles Richman said. “This redevelopment in the heart of Newark will help revitalize the neighborhood and allow families to live and work in the community. As a mixed-use development, Boulevard West will also expand retail opportunities in the community, spur job creation, grow the local tax base, and drive economic growth in the area.”

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