Kawaida Towers, a 10-story affordable housing project, gains momentum in downtown Newark following an $8 million city grant.
The Kawaida Towers affordable housing project has moved forward at 17 Halsey Street in downtown Newark. Following years of stagnation and historical setbacks, the project recently secured an $8 million grant from the City Council to support its development. The current iteration of the tower is planned for 10 stories, a reduction from the 16-story design proposed in 2021, to better align with current economic conditions.
The development is being led by Kawaida Towers JV Partners, with design services provided by OCA Architects. The site recently received approval from the Landmarks Commission, as the project is situated within a historic district. Construction follows the demolition of a preexisting structure on the property last year, aiming to fulfill a long-standing initiative to bring affordable residential units to the city.
Cervelli Real Estate & Property Management adds three multifamily properties totaling three apartment buildings in Jersey City to its management portfolio.
ICON Real Estate Advisors brokered the $19.35-million sale of The Pavilion, a 46-unit apartment building in Long Branch, and an adjacent retail property.
Garden Communities launches a lottery for 90 affordable rental units at The Sylvan, a newly completed residential complex in Englewood Cliffs.
Jersey City Planning Board approves the first phase of the Sacred Heart of Jesus campus redevelopment, converting the historic 183 Bayview Avenue priory into 14 residential units.
Walters earned 10 FAME Awards, including Community of the Year for the 73-unit Cornerstone at Hainesport in Burlington County.
Adoni Property Group sells the 52-unit multifamily property at 8 Tice Rd. in Franklin Lakes, New Jersey, for $29 million.
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