J&L Cos. has received a $94 million construction loan to finance the development of a 12-story, 403-unit, class A multifamily project located at 55 Union Street in the heart of the Ironbound District in downtown Newark, N.J.
The project is located two blocks from Newark Penn Station in the Ironbound District, one of the most desirable residential enclaves in Newark that has become a regional destination known for its vibrant nightlife and diverse mix of restaurants and entertainment options. J&L will deliver a comprehensive, top-of-the-market amenities package, including a rooftop garden and entertainment area; outdoor courtyard with grills; fire pits and lounge space; and state-of-the-art fitness center.
“As a local developer, long-term stakeholder, and property owner for over 40 years, J&L is deeply committed to advancing the revitalization of downtown Newark by developing projects that will create a thriving, vibrant neighborhood for local residents a
