Shaq To Build Luxury Condos In Newark
From the Star Ledger:
Newark set to sell historic site
BY KASI ADDISON AND JEFFERY C. MAYS
"Another piece of Newark's history may fall victim to a wrecking ball in the name of redevelopment."
"Once known as Malt House Number 3, the oldest remaining structure from the Peter Ballantine & Sons Ale Brewery in Newark has been home to Science High School for 23 years."
"A company owned by NBA star and Newark native Shaquille O'Neal wants to buy and demolish the historic school building at 40 Rector St., in the Central Ward, and build a luxury high-rise condominium complex."
"The city is ready to sell -- at far below market value."
"Today, the City Council will consider a resolution authorizing the sale of the property for $2.75 million. The building and land on which it sits have a combined market value of $6.5 million, according to city records."
"The Science High building is the oldest and largest remaining structure from the Peter Ballantine & Sons Ale Brewery. Built in 1860, it was taken over by the former Dana College in 1933. When Dana College was absorbed by Rutgers University in 1945, the building was used as a chemistry lab. Essex County College leased the building for several years before the Newark Board of Education took it over in 1983."
"Because the building is located in the Military Park Commons Historic District and has been listed on the state Register of Historic Places, the city needs state approval before it can sell it."
Newark set to sell historic site
BY KASI ADDISON AND JEFFERY C. MAYS
"Another piece of Newark's history may fall victim to a wrecking ball in the name of redevelopment."
"Once known as Malt House Number 3, the oldest remaining structure from the Peter Ballantine & Sons Ale Brewery in Newark has been home to Science High School for 23 years."
"A company owned by NBA star and Newark native Shaquille O'Neal wants to buy and demolish the historic school building at 40 Rector St., in the Central Ward, and build a luxury high-rise condominium complex."
"The city is ready to sell -- at far below market value."
"Today, the City Council will consider a resolution authorizing the sale of the property for $2.75 million. The building and land on which it sits have a combined market value of $6.5 million, according to city records."
"The Science High building is the oldest and largest remaining structure from the Peter Ballantine & Sons Ale Brewery. Built in 1860, it was taken over by the former Dana College in 1933. When Dana College was absorbed by Rutgers University in 1945, the building was used as a chemistry lab. Essex County College leased the building for several years before the Newark Board of Education took it over in 1983."
"Because the building is located in the Military Park Commons Historic District and has been listed on the state Register of Historic Places, the city needs state approval before it can sell it."
7 Comments:
Yes, this sounds like a great idea. What Newark needs is fewer historic buildings, and more luxury condos. Nothing gives a struggling city charm like fewer historic buildings, and more luxury condos.
If Newark sold the property for market value maybe they could afford to pay for their own schools instead of the suburbs funding their schools, their politicians and the arena.
What's next, putting a state aquarium and the most decorated WWII battleship in Camden where no one dare tread.
And whats up with the WWII memorial across from the state house, do you think anyone wants to go the dump known as Trenton?
I'm all for keeping historic places, but you guys are being a wee bit harsh here. It's not like keeping the old buildings has made Newark a tourist destination and helped them through hard times.
You can hardly blame anyone in Newark for wanting new development, the place is hole and hase been for decades.
Big new condos probably seem like a godsend, even if the old building is more interesting.
Mmmm, Mmmm, Ballantine thats some fine beer. Building in Newark probably not a bad idea but not destroying historic places. Why not do a historic rehab, make some lofts find some other land to do new luxury condos. If Newark could attract the artist crowd, maybe, just maybe they could turn it around.
Think about it artists will bring in demand for retail and food that is also in line with luxury condo buyers. Newark is dead in the water until they can get the conveniences people want, drastically improve the crime situation, and begin to lose the negative stigma. Any luxury condos being built in Newark have to be on subsudized land because Newark is too expensive and too risky otherwise!
Great, a priceless historical landmark destroyed to enable a spoiled, arrogant basketball star to erect "luxury condos" that will most likely never be sold. What's there not to like?
"Shaq's Shacks - Highrise Luxury Cribs."
Hallo I absolutely adore your site. You have beautiful graphics I have ever seen.
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