NEW JERSEY—Last week, executives from Fidelco Realty Group, the Hanini Group and Citi Community Capital, Essex County Executive Joseph DiVincenzo and Newark Mayor Cory Booker celebrated the opening of RockPlaza Lofts, a $38 million multiproperty redevelopment on Market Street.
RockPlaza Lofts is a mixed-use development, comprised of rental apartments, retail, galleries and restaurants and is located next to Newark’s Prudential Center.
“The construction of RockPlaza Lofts epitomizes our ideals for the overall redevelopment – invest in and restore historic properties to provide jobs for local Newark residents and a downtown with activity to match cities across the country,” said Samer Hanini, principal of the Hanini Group.
RockPlaza Lofts is located in close proximity to public transportation, as well as to the Prudential Center, New Jersey Performing Arts Center, Symphony Hall and the Newark Museum.
“I congratulate Fidelco Realty Group and the Hanini Group on the opening of RockPlaza Lofts. This project is powerful progress in Newark’s push to transform downtown into a vibrant 24/7 neighborhood – with more exciting additions on the way,” said Mayor Booker.
Upon completion, the full redevelopment on Market Street will total seven properties, approximately 34,000 sq. ft. of retail space and more than 80 loft-style apartment units within the area bounded by Market Street, Mulberry Street and Edison Place.