The East Newark Planning Board approved a 616-unit mixed-use building at a well-known industrial site that sits on the Passaic River waterfront last week.
By John Heinis/Hudson County View
The East Newark Planning Board unanimously approved the East Newark Town Center, LLC to begin the redevelopment of the historic Clark Cotton and Thread Company, which will bring 616 new residential units, over 91,000 square feet of retail space and over 4,300 square feet of commercial space to the 13-acre complex, according to the site plan.
An additional 106,000 square feet will be developed for future use and a 1,350-space garage will be built with a rooftop terrace.
The eight-building complex, built in 1875, was once the largest thread manufacturer in the nation. Virtually all of the buildings will be preserved, and their interiors modernized.
The residential portion will consist of one- and two-bedroom units that will have 14-foot ceilings and are approximately 1,500 square feet.
“This property is a unique treasure in an ideal location,” Alma Realty CEO Efstathios Valiotis said in a statement.
“With convenient access to the PATH, NJ Transit trains and buses, commuter ferries and major roadways nearby, we expect to attract residents seeking a convenient urban environment that also provides the space and comfort of a waterfront park. The central location will also attract people from throughout the region as a destination retail location.”
The property sits in close proximity to residential communities in western Hudson County and is walking distance across the Clay Street Bridge to Newark’s Broad Street train station, as well as New Jersey Performing Arts Center and Rutgers University Newark campus.
Additionally, the Harrison PATH station is a mile away and a shuttle bus will be provided for residents of the property.
