Newark approves 367-unit project

Development in Ironbound district includes ground-floor retail

David Minno with 514 Mulberry Street
David Minno with 514 Mulberry Street (Loopnet, Getty, Minno Wasko)

Newark is set to receive 367 housing units in its Ironbound district, an area known for its industrial character.

Last week, Newark’s zoning board unanimously approved the full-block development at 514 Mulberry Street, Jersey Digs reported. The developer of the proposed five-story project, which a source told The Real Deal is Brooklyn-based Cipco Developers of New York, is using the entity Mulberry Gardens LLC.

The developer, led for 20 years by Asher Neuman, purchased the site two years ago for $5 million, according to Traded. Bobby Antonicello Jr of Grid Real Estate brokered the sale.

The project will include ground-level retail. Amenities at the apartment complex will include rooftop access, a pool and Zoom rooms for remote workers.

The project needed variances, including for the width of the driveway to the 367-space parking garage. Residents criticized the entrance’s location on a street with historic row houses, rather than on a street with warehouses.

The architect, Minno & Wasko, defended the garage, saying the configuration would make for a better design as well as safer.

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The Ironbound district started heating up a few years ago, spurred by the multiphase Riverfront Park development, which spans miles of remediated parkland along the Passaic River. A mixed-use zoning ordinance went into effect in early 2019, allowing developments up to 11 stories.

Elsewhere in Newark, Accurate Builders and Developers has proposed an 11-building complex at a former baseball stadium site in the city. The defunct Newark Bears used to play at the site. The 10.5-acre project would be constructed in nine phases and deliver 4,200 housing units and 100,000 square feet of commercial space. The developer nabbed a $395 million loan from Madison Realty Capital.

Other Newark projects include a 78-unit affordable housing development by L+M Development Partners and Alicia Glen’s MSquared, and Acier Holdings’ The Halo Newark, a three-building, 949-unit rental project at 289 to 301 Washington Street. It broke ground in July and will be Newark’s tallest at 450 feet.

Holden Walter-Warner


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