A developer is hoping to turn four blocks of downtown Newark, now home to several vacant buildings, into a village featuring three charter schools and 221 homes to be marketed to educators, along with retail stores.
The $120 million project would involve demolishing eight deteriorating buildings along Halsey Street dating from the 1870s; constructing seven buildings four to six stories tall, and rehabilitating a nine-story building.
“We feel very strongly that we have the right formula,” said developer Ron Beit of the RBH Group, whose proposal is scheduled for its first public hearing Thursday, before Newark’s Landmarks & Historic Preservation Commission. …
Beit hopes to break ground on the project, called Teachers Village at Four Corners, this summer and complete the work by June 2012. The financing, he said, is in place.
My family had dinner last night with some friends who had been on a walking tour with Mr. Beit. Despite the freezing cold temperatures, they said his enthusiasm for the project seemed to keep him warm as the developer shared his ambitions at length.
Very exciting development to see education start to merge with downtown development.