One Theater Square, Newark’s first ground-up luxury residential high-rise since 1960, has officially opened.
The 22-story mixed-use glass tower features 245 studio, one-, two-, and three-bedroom units. 24 of the units are set aside for affordable housing. Each apartment unit features granite and stainless steel throughout. A fitness center with a yoga studio, game room, culinary kitchen, outdoor deck with a fire pit, and 285-car garage. Also included is 12,000 sf of ground-floor retail.
See Also: Developers are harkened for major revitalization project in Pittsburgh
The building is part of the larger ongoing revival in Newark and was awarded $33 million in Urban Transit Hub Tax Credits from the State of New Jersey. The project also arranged for $12 million in project funding from the City of Newark through a Revenue Allocation Bond, a parking tax grant, and HOME funds.
Dranoff Properties is the project developer.
Related Stories
Mixed-Use | Jan 25, 2016
SOM unveils renderings of dual-tower Manhattan West development
The five million-sf project includes two office towers, a residential tower, retail space, and a new public square.
Mixed-Use | Jan 8, 2016
Aedas’ Shanghai project named the world’s best mixed-use architecture
Mapletree Business City Shanghai and VivoCity Shanghai took home a crown at the International Property Awards
High-rise Construction | Jan 7, 2016
Zaha Hadid designs a tower of 'stacked vases' in Melbourne
The structure is supported by sets of curved columns that taper to four different base heights.
Mixed-Use | Dec 23, 2015
'Tree-covered mountains' planned for urban Shanghai
Heatherwick Studio unveiled a 300,000-sm mixed-use project in the Chinese city’s main arts district.
Mixed-Use | Nov 16, 2015
Italian architect designs vertical forest with prefab units by BuroHappold
Cantilevered planters will host cedar trees and other plants hundreds of feet above ground.
Multifamily Housing | Oct 7, 2015
BIG designs lush, terraced mixed-use building in Sweden
Cascading glass and wooden cubes create a form similar to Northern Ireland’s Giant’s Causeway rock formation.
Multifamily Housing | Oct 1, 2015
Wiel Arets unveils twin, 558-foot mixed-use towers in Bahrain’s capital
The development, Bahrain Bay Tower, will consist of two residential towers connected “by a plinth of retail, office, parking, and public park space.”
Cultural Facilities | Sep 24, 2015
Bakpak Architects' 'pottery courtyard' concept in Poland incorporates local heritage
The multifunctional building proposed for Rzeszow, Poland, looks like it was handcrafted on a potter’s wheel.
Mixed-Use | Aug 26, 2015
Innovation districts + tech clusters: How the ‘open innovation’ era is revitalizing urban cores
In the race for highly coveted tech companies and startups, cities, institutions, and developers are teaming to form innovation hot pockets.
High-rise Construction | Aug 7, 2015
Tribute tower to cricket world champs will be Sri Lanka’s tallest
The 1996 Iconic Tower will be a tribute to the country’s cricket team, which won the World Cup in 1996.
