AN ORDINANCE GRANTING A TWENTY-FIVE (25) YEAR TAX ABATEMENT TO CENTRAL POINTE URBAN RENEWAL, LLC, 260 BROADWAY, NEWARK NEW JERSEY 07104 FOR A PROJECT LOCATED AT 378-386 CENTRAL AVENUE, NEWARK, NEW JERSEY 07103 AND IDENTIFIED ON THE CITY’S TAX MAP AS BLOCK 1839, LOT 9 (FORMERLY TAX LOTS 7, 8, 9, AND 11) ON THE TAX MAP OF THE CITY (THE “PROPERTY”) FOR A PROJECT INVOLVING THE DEMOLITION OF THE EXISTING ONE-STORY COMMERCIAL STRUCTURE AND CONSTRUCTION OF A NEW SIX-STORY MULTIFAMILY BUILDING WITH SEVENTY-SEVEN (77) RESIDENTIAL RENTAL UNITS CONSISTING OF SIXTY-ONE (61) MARKET RATE RESIDENTIAL RENTAL UNITS (4 STUDIOS, 23 ONE-BEDROOMS, AND 34 TWO-BEDROOMS), SIXTEEN (16) AFFORDABLE HOUSING RENTAL UNITS (2 STUDIOS, 6 ONE-BEDROOMS, AND 8 TWO-BEDROOMS), FIFTEEN (15) OFF-STREET PARKING SPACES IN A FIRST FLOOR GARAGE, AN OUTDOOR TERRACE ON THE ROOF OF THE FIRST FLOOR, WHICH IS ACCESSIBLE TO THE APARTMENTS THAT FRONT ON IT, AND A CO-WORKING LOUNGE, MEZZANINE AND ROOFTOP GARDEN (CENTRAL WARD)

Committee

Economic and Housing Development

Introduced

April 22, 2025

On agenda

August 6, 2025

Passed

September 4, 2025

Where it was heard

Municipal Council Sep 4, 2025 Close on Public Hearing and Adopt Pass Municipal Council Aug 6, 2025 Advance and Adopt on First Reading as 6F- Pass

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