25-0593

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)

Ordinance Adopted Introduced April 22, 2025

Where it was heard