AN ORDINANCE GRANTING A TWENTY-FIVE (25) YEAR TAX ABATEMENT TO NEWARK PORTFOLIO II URBAN RENEWAL, LLC, 429 CHESTNUT STREET, ROSELLE PARK, NEW JERSEY 07204, FOR A PROJECT TO CONSTRUCT OF A FIVE-STORY MIXED USE BUILDING WITH TWENTY-THREE (23) TWO-BEDROOM RESIDENTIAL UNITS, INCLUSIVE OF EIGHTEEN (18) TWO-BEDROOM MARKET RATE RESIDENTIAL RENTAL UNITS (THE “MARKET RATE UNITS”) A FIVE (5) TWO-BEDROOM AFFORDABLE HOUSING RENTAL UNITS, OF WHICH ONE (1) UNIT SHALL BE RESTRICTED TO TENANTS AT 40% OF AREA MEDIAN INCOME (“AMI”), TWO (2) UNITS SHALL BE RESTRICTED TO TENANTS AT 60% AMI, AND TWO (2) UNITS SHALL BE RESTRICTED TO TENANTS AT 80% AMI (THE “INCOME RESTRICTED UNITS”), APPROXIMATELY 1,350 SQUARE FEET OF COMMERCIAL SPACE, AND FIVE (5) ASSOCIATED PARKING SPACES LOCATED AT 15-19 SOUTH 13TH STREET, NEWARK, NEW JERSEY 07107 AND IDENTIFIED ON THE CITY’S TAX MAP AS BLOCK 1898, LOT 13.01 (COLLECTIVELY, THE “PROJECT”). (WEST WARD)

Committee

Economic and Housing Development

Introduced

November 4, 2024

On agenda

April 2, 2025

Passed

April 16, 2025

Where it was heard

Municipal Council Apr 16, 2025 Close on Public Hearing and Adopt Pass Municipal Council Apr 2, 2025 Advance and Adopt on First Reading as 6F- Pass

Watch Newark

Say what matters to you — a street, a company, a subject — and we will email you when Newark files something about it.

Watch this

Free for 14 days, no card — and nothing charges itself: at day 14 the emails simply stop unless you choose to subscribe ($19 a month). One email when something matches, and nothing else. Unsubscribe from any of them. Searching stays free — it is public record.