NEWARK, NJ—SJP Properties hascreated a joint-venture with Aetna Realty toredevelop the former Westinghouse property, a3.7-acre site adjacent to the Newark Broad Street Station. Thepartners say it represents the most significant transit-orientedredevelopment opportunity in Newark and will stimulate growth inthe city's North Broad Street District.
Conceptual plans for the property call for up to two millionsquare feet of mixed-use development, potentially including office,retail, hotel and residential components. The development will beanchored by a large public plaza to activate the pedestrianexperience along University Avenue and Orange Street whileenhancing connectivity to the train station, an NJ Transit commuterand light rail station that provides convenient Midtown directservice.
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