One Theater Square, Newark’s first ground-up luxury residential high-rise since 1960, has officially opened.
The 22-story mixed-use glass tower features 245 studio, one-, two-, and three-bedroom units. 24 of the units are set aside for affordable housing. Each apartment unit features granite and stainless steel throughout. A fitness center with a yoga studio, game room, culinary kitchen, outdoor deck with a fire pit, and 285-car garage. Also included is 12,000 sf of ground-floor retail.
See Also: Developers are harkened for major revitalization project in Pittsburgh
The building is part of the larger ongoing revival in Newark and was awarded $33 million in Urban Transit Hub Tax Credits from the State of New Jersey. The project also arranged for $12 million in project funding from the City of Newark through a Revenue Allocation Bond, a parking tax grant, and HOME funds.
Dranoff Properties is the project developer.
Related Stories
| Aug 11, 2010
Silver Award: Palmer House Hilton Hotel & Shops Chicago, Ill.
Chicago's Palmer House Hilton holds the record for the longest continuously operated hotel in North America. It was originally built in 1871 by Potter Palmer, one of America's first millionaire developers. When it was rebuilt after the Great Chicago Fire it became the first hotel in the U.S. to put a telephone in every room.
| Aug 11, 2010
Gulf Coast Hotel's Stormy Road to Recovery
After his initial tour of the dilapidated 1850s-era Battle House Hotel, Ron Blount, construction manager with Retirement Systems of Alabama, said to his boss: “You need a priest more than you need a contractor.” Those words were more prescient to RSA's restoration of the historic Mobile landmark than he could have known at the time.
| Aug 11, 2010
Lifestyle Hotel Trends Around the World
When the Rocco Forte Collection opens the Verdura Golf & Spa Resort in Sicily in early 2009, the 200-room luxury property will be one of the world's newest lifestyle hotels. Lifestyle hotels cater to guests seeking a heightened travel experience, which they deliver by offering distinctive—some would say avant-garde, or even outrageous—architecture, room design, amenities, and en...
