26-0264

AN ORDINANCE GRANTING A TWENTY (20) YEAR LONG TERM TAX ABATEMENT TO NAIMOR 763 S ORANGE URBAN RENEWAL LLC, 90 WASHINGTON ST., SUITE 307, EAST ORANGE, NEW JERSEY 07017 FOR A PROJECT, LOCATED IN THE WEST WARD AT 763 AND 765-767 SOUTH ORANGE AVENUE, NEWARK, NEW JERSEY 07103 AND IDENTIFIED ON THE CITY’S TAX MAP AS BLOCK 4207, LOTS 12, 13 & 14 (THE “PROPERTY”), TO CONSTRUCT A NEW FIVE (5) STORY MIXED USE BUILDING WITH THIRTY-TWO (32) RESIDENTIAL RENTAL UNITS ON THE 2ND THROUGH 5TH FLOORS CONSISTING OF TWENTY-FIVE (25) MARKET RATE RESIDENTIAL RENTAL UNITS (TWO (2) STUDIO UNITS, SIXTEEN (16) ONE-BEDROOM UNITS, AND SEVEN (7) TWO-BEDROOM UNITS), (THE “MARKET RATE UNITS”), SEVEN (7) AFFORDABLE HOUSING RENTAL UNITS OF WHICH ONE (1) ONE-BEDROOM WHICH SHALL BE RESTRICTED TO TENANTS AT 40% OF AREA MEDIAN INCOME (“AMI”), TWO (2) UNITS SHALL BE RESTRICTED TO TENANTS AT 60% OF AMI, CONSISTING OF ONE (1) STUDIO UNIT AND ONE (1) ONE-BEDROOM UNIT, AND FOUR (4) UNITS SHALL BE RESTRICTED TO TENANTS AT 80% OF AMI, CONSISTING OF ONE (1) STUDIO UNIT, TWO (2) ONE-BEDROOM UNITS, AND ONE (1) TWO-BEDROOM UNITS (THE “INCOME RESTRICTED UNITS”), AND 1,134 SF OF RETAIL/COMMERCIAL SPACE ON THE GROUND FLOOR (THE “COMMERCIAL/RETAIL UNITS”), EIGHT (8) PARKING SPACES, A GYM, ROOF DECK, ELEVATOR, A 642 SF MECHANICAL ROOM, A 450 SF STORAGE ROOM, AND A TRASH ROOM, FOR A PROJECT LOCATED IN THE WEST WARD AT 763 AND 765-767 SOUTH ORANGE AVENUE, NEWARK, NEW JERSEY 07103 AND IDENTIFIED ON THE CITY’S TAX MAP AS BLOCK 4207, LOTS 12, 13 & 14 (COLLECTIVELY, THE “PROJECT”) (WEST WARD).

Ordinance Adopted Introduced February 26, 2026

Where it was heard