"Today, we are once again manifesting Newark's continuedtransformation by converting this historic industrial building intomodern, state-of-the-art rental apartments," says Mayor CoryBooker, in a statement. "These apartments will offer a variety ofamenities and features."
The $17-million project will turn the building into acombination of market-rate (80%) and affordable (20%) lofts.Newwork LLC managing partner Michael Saltzman has set a summer 2009date for completion, and the finished product will feature a commonatrium linking all the units, as well as fitness and businesscenters and a rooftop garden.
"This is a true public-private effort between a local developer,the city and the Brick City Development Corp.," Joseph Ritchie, CEOof Brick City, tells GlobeSt.com. BCDC is the economic developmentarm of the City of Newark.
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