| One Theater Square | |
|---|---|
| General information | |
| Status | Proposed |
| Type | Mixed use |
| Location | Centre Street Newark, New Jersey |
| Coordinates | 40°44′25″N 74°10′01″W / 40.740169°N 74.167076°W / 40.740169; -74.167076Coordinates: 40°44′25″N 74°10′01″W / 40.740169°N 74.167076°W / 40.740169; -74.167076 |
| Height | |
| Roof | 147 m (482 ft) |
| Technical details | |
| Floor count | 44 |
| Design and construction | |
| Developer | Dranoff Properties, City of Newark, NJPAC |
New Jersey Performing Arts Center and Dranoff Properties, Inc. of Philadelphia have signed a Letter of Intent for the development a mixed-use residential and retail project. One Theater Square is inspired by its location on a 1.2 acre site across the street from NJPAC and if built would be the tallest building in Newark.
The project is conceived as part of a continued effort to increase the resident population in the heart of downtown Newark. It is nearby the restored Eleven 80 and Union Building and the planned residential renovations of the Griffith Building and former Hahne and Company flagship store. The estimated $190 million cost will be offset New Jersey Economic Development Authority $38 million Urban Transit tax credits and federal tax credits for inclusion of affordable housing for artists.
One Theater Square is envisioned to include a residential community of at least 250 units, 30,000 square feet of street-level retail and cultural uses, and structured parking for over 750 cars to serve the shared needs of the residential community as well as those of NJPAC’s audiences and daytime commercial demand.
Read more about this topic: New Jersey Performing Arts Center
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