By Jared Kofsky A new six-story apartment building will come to Jersey City and Newark could get a new 240-room hotel, while a South American country is donating an island it owns in south Jersey to the state government. Newark and Jersey City are continuing to see new businesses opening and new buildings being constructed, while an island in Camden County that is owned by a foreign government’s oil company will soon be open regularly to the public. Here are those stories and more in The Bull Bear & Lion’s latest roundup of business news in the Garden State, as initially reported on JerseyDigs.com. --- We now know more about what a Manhattan developer is planning to bring to the site of a Northern New Jersey baseball stadium. Lotus Equity Group purchased the former Bears and Eagles Riverfront Stadium property in Downtown Newark for $23.5 million last year from the Essex County Improvement Authority with the goal of developing a new neighborhood on the property. Legal notices that were released at the end of November reveal that Lotus is planning for the upcoming project to include 2,526 residential units, 48 live/work units, a hotel with 240 rooms, retail space covering 102,144 square feet, a performance space, office and commercial space spanning 2,216,820 square feet, and 2,923 parking spaces to accompany the existing Essex County Improvement Authority parking garage. The development would be constructed in partnership with the Practice for Architecture and Urbanism, Michael Green Architecture, TEN Arquitectos, and Minno & Wasko Architects and Planners. If approved by the Newark Central Planning Board, Lotus would also seek to develop part of the former Lincoln Hotel property just across the street from the stadium. Another Manhattan company is also preparing to develop in this region of the state. Titanium Realty Group is teaming up with WDesignè, River Drive Companies, and LWDMR Architects in order to construct a six-story all-residential development at 75-81 Jordan Avenue in Jersey City’s McGinley Square neighborhood. According to Titanium's founder and CEO Diego Hodara, 35 different studio, one-bedroom, and two-bedroom units will be available inside the building when it is completed. Fifteen parking spaces will also be included in the development, as will be a rooftop deck. Demolition is underway now to remove the existing three-family residential building and automotive garage that have stood on the premises for decades; according to Hodara, construction on the new building is expected to last 18 months. A few blocks away from Jordan Avenue, two neighborhood residents are in the process of opening a new café and ice cream shop called Crema. Federico Rodriguez and his wife Michele Boas will open the business in the brownstone at 695 Bergen Avenue in the space that had been occupied by Harry Street Coffee until that shop suddenly closed its doors over the summer. According to Rodriguez, seeing Harry Street Coffee close motivated him to bring a venue back to McGinley Square where neighborhood residents can gather and artists could display their work He wanted to focus on ice cream, in addition to coffee, because this part of the city does not have any independent ice cream parlors. That will no longer be the case when Crema opens in January, introducing 20 'high-end' flavors with it. Ninety miles to the southwest, plans are moving forward to convert an island that sits in the middle of the Delaware River between Camden County and Philadelphia into a public park and nature preserve. Petty’s Island in Pennsauken Township is currently owned by the Venezuelan government’s Citgo Petroleum Corporation since it had previously operated an oil terminal on the premises. However, Citgo is in the process of tearing down its remaining oil tanks on the property, and the Crowley Maritime Corporation terminal on the island will be permanently closed, effective January 1, 2018. In 2020, ownership of Petty's Island will officially be transferred to the State of New Jersey, and the New Jersey Natural Lands Trust will open a visitor and cultural center with views of Center City Philadelphia, along with hiking trails and other amenities, to the public. Currently, Citgo has partnered with New Jersey Audubon to offer tours of the island, which are free and open to the public, though advance registration is required.
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12/27/2023 10:21:33 am
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