NEWARK — Plans for a new development submitted to the Central Planning Board that include 1,008 residential units in two towers promise to bring new heights to Newark.
The 51-story project is planned to have 427 units on one tower and 581 units in a second tower, said Daniel Spiegel, co-owner of the Newark-based developer KS Group.
“We are incredibly excited about the potential of this project at 315 Mulberry Street,” Spiegel told TAPinto Newark. “We see it as an opportunity to contribute to the vibrant Newark skyline and to play a role in the city's ongoing revitalization.”
KS Group is partnering with the Jersey City-based developer Giga Holdings for the project, he said.
“We're committed to creating a development that not only offers high-quality residential spaces but also adds value to the community,” Spiegel said. “We look forward to working closely with the city to bring this vision to life."
Jeff Blau, the founder and president of Giga Holdings, shared details about the project in a LinkedIn post earlier this month.
“Newark's tallest project yet. We submitted our latest project to the Planning Board,” Blau said.
Spiegel said the Planning Board has yet to set a hearing date.
If the project is approved, Newark-based YNH Construction is lined up for the work, he said.
The project would meet the city’s required set-aside for 20% affordable housing, which in this case amounts to about 202 units, according to Spiegel.
“This project is going to bring quite a lot of affordable housing to Newark, which is aligned with the mayor’s vision of creating more affordable units,” he said.
INOA Architecture developed the plans, he said.
The firm is known for its sleek designs, including the 41-story Summit Tower, for which KS Group secured planning board approvals in March. Summit Tower is planned to be the height of the National Newark Building at 744 Broad St.
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