Fairstead and LIHC Investment Group have plans for a new ground-up development proposal for a mixed-income building at Essex Plaza in Newark, N.J.
The six-story, 365,000-square-foot proposed development would consist of 241 residential apartments, ground-floor commercial and amenity space, and underground parking. The development would be built as part of New Jersey’s Clean Energy Program, taking a whole-building approach to saving energy with a tailored energy reduction plan to promote efficiency and sustainability.
“To support the future of our cities, we need a variety of housing options serving affordable, workforce and market-rate renters. Having a sustainable place to live is the foundation everyone needs to work in and give back to their communities,” said Brett Meringoff, managing partner, development, at Fairstead. “Fairstead and LIHC are preserving and revitalizing the existing housing stock at Essex Plaza and proposing a new vision for additional hou
