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
Smart Buildings | May 28, 2015
4 ways cold-climate cities can make the most of their waterfronts
Though cold-climate cities pose a unique challenge for waterfront development, with effective planning waterfront cities with freezing winter months can still take advantage of the spaces year-round.
Sponsored | Coatings | May 14, 2015
Prismatic coatings accent the new Altara Center
This multi-use campus will contain a university, sports facilities, medical center, and world-class shopping
Mixed-Use | May 10, 2015
Construction on Orlando’s massive ‘innovation hub’ is finally starting
The $1 billion Creative Village development will create a business and education hub.
High-rise Construction | May 6, 2015
Two new designs submitted for New York City Riverside Center
Both designs reference the cantilevers and other elements featured in architect Christian de Portzamparc’s original masterplan for the complex, which has now been scrapped.
Building Owners | May 6, 2015
Hackathons and RFCs: Why one developer killed the RFP
In lieu of an RFP process, Skanska Commercial Development hosted a three-week "hackathon" to find an architect for its 2&U tower in Seattle.
Mixed-Use | May 5, 2015
Miami ‘innovation district’ will have 6.5 million sf of dense, walkable space
Designing a neighborhood from the ground-up, developers aim to create a dense, walkable district that fulfills what is lacking from Miami’s current auto-dependent layout.
Hotel Facilities | Apr 30, 2015
Atlanta Braves partner with Omni Hotels & Resorts to build hotel near new Suntrust Park
The Omni Atlanta Northwest Hotel will feature 16 floors with 260 guest rooms and suites, rooftop hospitality suites, 12,500 sf of meeting space, a signature restaurant, and an elevated pool deck and bar overlooking the plaza and ballpark.
Hotel Facilities | Apr 29, 2015
OMA unveils design for the Netherlands' largest hotel
Once completed, and if approved, the structure will add three stacked cubes to the Amsterdam skyline.
High-rise Construction | Apr 23, 2015
Size matters in NYC, where several projects vie for the city’s tallest building honor
The latest renderings of 217 West 57th Street show a tower that would rise higher than the World Trade Center’s pinnacle, when elevations are included.
High-rise Construction | Apr 22, 2015
Architects propose sustainable ‘vertical city’ in the Sahara
Designers aim to make the 1,476-foot tower sustainable, relying on rainwater collection, solar power, and geothermal energy.
