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Blackstone 360 Granted PILOT Approval for Fifth Luxury High Rise in East Orange

Because of Blackstone 360's commitment, other investors are now happy to walk with East Orange on new developments, says Daniel Jennings, the city's director of planning and development.

Rendering of Allure 260, left, and Daniel Jennings, director of policy, planning and development for East Orange Rendering of Allure 260, left, and Daniel Jennings, director of policy, planning and development for East Orange

EAST ORANGE, NJ—The city council of East Orange has voted to approve a “payment in lieu of taxes” or “PILOT” agreement with developer Blackstone 360 for its proposed luxury residential building at 260 S. Harrison Street. With the approval of the PILOT, the Newark-based developer is expected to break ground on the building in January 2019.

The building, known as “Allure 260,” is Blackstone 360’s fifth major development in East Orange and is expected to cost $45 million, bringing the developer’s total investment in the city to approximately $150 million in the last 10 years. The largest project in the city to date by Blackstone 360, Allure 260 will rise 18 stories, encompass 325,000 square feet, and contain 201 luxury residences.

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Steve Lubetkin

Steve Lubetkin

Steve Lubetkin is the New Jersey and Philadelphia editor for GlobeSt.com. He is currently filling in covering Chicago and Midwest markets until a new permanent editor is named. He previously filled in covering Atlanta. Steve’s journalism background includes print and broadcast reporting for NJ news organizations. His audio and video work for GlobeSt.com has been honored by the Garden State Journalists Association, and he has also been recognized for video by the New Jersey Chapter of the Society of Professional Journalists. He has produced audio podcasts on CRE topics for the NAR Commercial Division and the CCIM Institute. Steve has also served (from August 2017 to March 2018) as national broadcast news correspondent for CEOReport.com, a news website focused on practical advice for senior executives in small- and medium-sized companies. Steve also reports on-camera and covers conferences for NJSpotlight.com, a public policy news coverage website focused on New Jersey government and industry; and for clients of StateBroadcastNews.com, a division of The Lubetkin Media Companies LLC. Steve has been the computer columnist for the Jewish Community Voice of Southern New Jersey, since 1996. Steve is co-author, with Toronto-based podcasting pioneer Donna Papacosta, of the book, The Business of Podcasting: How to Take Your Podcasting Passion from the Personal to the Professional. You can email Steve at [email protected].

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