One Theater Square

Last updated
One Theater Square
1TheaterSquareNewark(2019).jpg
One Theater Square
General information
Typemixed use (luxury residential high rise apartments and ground level retail space)
Location2 Center Street
Newark, New Jersey
Coordinates 40°44′22″N74°10′05″W / 40.73944°N 74.16793°W / 40.73944; -74.16793
Construction startedNovember 2016
CompletedLate 2018
OpeningLate 2018
Cost$116m
Height
Roof283.23 ft (86.33 m)
Technical details
Floor count22
Lifts/elevators6
Design and construction
Architect(s) BLT Architects
DeveloperDranoff Properties, NJPAC
Structural engineerHarmon Engineering [1]

One Theater Square is a mixed-use (residential and commercial) building in Newark, New Jersey. It is located across from Military Park and the New Jersey Performing Arts Center, which inspired its name. Completed in 2018, it includes the first newly-constructed high rise apartment building to be built in the city in more than fifty years. It was designed by BLT Architects. [2] [3] [4] [5]

Contents

Concept and development

NJPAC was originally conceived to have additional real estate component, including two buildings at the site of One Theater Square. [6] The project was proposed in 2005 by former NJPAC president and CEO Lawrence P. Goldman. NJPAC and Dranoff Properties of Philadelphia signed a Letter of Intent for the development of a mixed-use luxury residential and retail project in 2008. [7] [8] At the time, it was initially planned as a 28-story building with 30,000 square feet of retail space, 640 parking spaces and 250 rental apartments. By 2010, the idea grew into a $190 million project with a 44-story tower, 328 residential rental units, a pool and a spa. However, due to an economic downturn and consequential financial difficulties, the plan was changed again. That proposal would have built the tallest building in the city. [9] [10]

Topped-out in 2017 1TheatreSquareNewarkAug2017.jpg
Topped-out in 2017

Eventually, the plan for the site of 1.2 acres (0.49 ha) called for 22 stories with 245 residential units, 24 of which will be affordable housing units marketed as artist residences; [11] 12,000 square feet of street-level retail and cultural uses and structured parking for 285 cars to serve the shared needs of the residential community as well as those of NJPAC's audiences and daytime commercial demand. [12] [13] The estimated $116 million cost was offset by $38 million New Jersey Economic Development Authority Urban Transit tax credits and federal tax credits for inclusion of affordable housing for artists. [14] [15] [16] [17] [18] [19] [20] The project had been long delayed and stood to lose tax credits by 2017 if investment in construction was not started. [21] Construction broke ground in November 2016. [22] [23] [24] and the project was completed in late 2018. [25]

Living Downtown

The project was conceived as part of a continued effort to increase the resident population in the heart of Downtown Newark. [26] It is near the restored Eleven 80 at Raymond Boulevard, the Union Building, [27] the former Hahne and Company flagship store, the New Jersey Bell Headquarters Building, and the American Insurance Company Building as well as the newly constructed 50 Rector Park. [28] [29] [30] [31] As of 2019, the Griffith Building, long proposed for redevelopment, remains vacant. [32]

Newark Light Rail service opened as July 17, 2006, at the NJPAC/Center Street station, connecting the site with Broad Street Station and Penn Station Newark.

See also

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References

  1. ↑ "Revitalizing Newark: One Theater Square tops off". 26 September 2017. Retrieved 9 March 2019.
  2. ↑ News, Eyewitness (3 October 2018). "New Newark luxury high-rise apartment building is first completed in 50 years". ABC7 New York. Retrieved 2 March 2019.{{cite web}}: |last= has generic name (help)
  3. ↑ "Newark's first luxury residential tower in nearly 60 years officially opens". Building Design + Construction. Retrieved 2 March 2019.
  4. ↑ Di, Mark (24 September 2017). "Newark's building boom an echo of its history : Di Ionno". nj.com. Retrieved 2 March 2019.
  5. ↑ September 26, Steve Lubetkin; AM, 2016 at 04:00. "First Upscale Highrise in Newark Since 1960, One Theater Square Poised to Begin Construction". GlobeSt. Retrieved 2 March 2019.{{cite web}}: CS1 maint: numeric names: authors list (link)
  6. ↑ Dunlap, David W. (1995-01-01). "In Newark, Prologue to an Arts Center". The New York Times. ISSN   0362-4331 . Retrieved 2023-02-09.
  7. ↑ NJPAC complex will add $200M high-rise apartment tower. NJ.com. Retrieved on 2013-07-15.
  8. ↑ Martin, Antoinette (May 14, 2010). "In Newark, Housing for Artists and Others". New York Times. Retrieved 2010-09-01.
  9. ↑ "Graph of twelve tallest buildings in New Jersey". Star-Ledger. Archived from the original on 2011-07-16. Retrieved 2010-09-01.
  10. ↑ Read, Philip (February 28, 2010). "Proposed Newark high-rise would become city's tallest building". The Star=Ledger. Retrieved 2010-09-01.
  11. ↑ Strunsky, Steve (26 June 2017). "One Theater Square 22-story apartment tower rises rapidly on Newark skyline". nj.com. Retrieved 9 March 2019.
  12. ↑ "Former NJPAC CEO to step down from luxury apartment project now that funding is complete". 18 November 2013. Retrieved 29 June 2016.
  13. ↑ "High-rise near NJPAC in Newark delayed, downsized". 22 September 2012. Retrieved 29 June 2016.
  14. ↑ Smothers, Ronald (16 March 2006). "Arts Center Has a Plan to Help Newark Revive". The New York Times.
  15. ↑ Angel, Karen (5 May 2010). "Theater Square project is tower of hope for downtown Newark". Daily News. New York.
  16. ↑ "Archived copy" (PDF). Archived from the original (PDF) on 2012-04-06. Retrieved 2012-04-08.{{cite web}}: CS1 maint: archived copy as title (link)
  17. ↑ Dranoff Properties and NJPAC Unveil Plans for One Theater Square - NEWARK, N.J., May 5 /PRNewswire-USNewswire/. Prnewswire.com. Retrieved on 2013-07-15.
  18. ↑ N.J. Performing Arts Center gets $38M tax credit for high-rise in Newark. NJ.com. Retrieved on 2013-07-15.
  19. ↑ Jacobs, Andrew (18 January 2008). "Planning for Newark's Next Big Step: An Apartment Tower Near the Arts Center". The New York Times.
  20. ↑ Angel, Karen (4 March 2010). "It's a wonderful loft: Downtown Newark making space for lots of conversions". Daily News. New York.
  21. ↑ "Why NJPAC's next big act is still a parking lot". 18 October 2015. Retrieved 29 June 2016.
  22. ↑ Perry, Jessica (16 September 2016). "Construction underway on Newark high rise, NJPAC and developer say" . Retrieved 2 March 2019.
  23. ↑ Haydon, Tom (15 November 2016). "NJPAC breaks ground on long-awaited high-rise project". nj.com. Retrieved 2 March 2019.
  24. ↑ "One Theater Square Luxury Apartments I Dranoff Properties". Visionary Urban Real Estate Development - Dranoff Properties. Retrieved 2 March 2019.
  25. ↑ "Philly developer Dranoff completes luxury high-rise in Newark, N.J." The Inquirer. 3 October 2018. Retrieved 10 October 2018.
  26. ↑ "Living Downtown Plan". City of Newark. May 23, 2008. Retrieved 10 February 2019.
  27. ↑ Welcome to the Union Building. Unionbuilding.com. Retrieved on 2013-07-15.
  28. ↑ Jacobs, Andrew (5 January 2007). "Boulevard in Newark Runs From Decline to Rebirth". The New York Times.
  29. ↑ "NYC developers crossing the river to Newark". The Real Deal. Archived from the original on 15 February 2010. Retrieved 22 July 2010.
  30. ↑ "Hahnes Griffith Buildings". Berger Organization. Retrieved 29 July 2010.
  31. ↑ "In Manhattan's shadow, troubled Newark is having a moment". North Jersey. Retrieved 2 March 2019.
  32. ↑ "NYC developers crossing the river to Newark". The Real Deal. Archived from the original on 2010-02-15. Retrieved July 22, 2010.
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