A property at 155 Washington Street, first built as a parking garage in the 1920s, was sold by Rutgers University to L + M Development Partners. Photo by Jared Kofsky / Jersey Digs.
A developer who has worked hard renovating a skyscraper along the line between Downtown and University Heights has announced a partnership that will bring Newark an expanding residential concept.
As early as April last year, we were the first point of sale to spread the word about the revitalization of an 18-story tower at 155 Washington Street. The property, which was first built as a parking garage in the 1920s, was sold by Rutgers University to L + M Development Partners for just over $ 9 million.
Construction progress. Photo by Jared Kofsky / Jersey Digs.
The Newark Planning Board approved a final design in July this year to adaptively reuse the long-standing structure into a residential building of 250 units and 6,250 square feet of retail space. The $ 91 million project, prepared by Inglese Architecture + Engineering, is a new four-story building connected along Washington Street that will provide institutional space for Rutgers University-Newark.
Rendering of the finished Urby building. Image courtesy Inglese Architecture + Engineering.
L + M Development Partners recently announced a partnership with Dave Barry, formerly Ironstate Development, to bring the next Urby company to the property. The municipalities take a design approach that emphasizes common spaces to facilitate interaction between tenants through amenities such as cafes integrated into the lobbies and communal kitchens.
“Newark’s thriving, cultural hub is a perfect fit as we focus on bringing community and new opportunities to the retail and housing development,” said Barry, CEO of Urby. “Newark Urby will celebrate the city’s design history with this renovated tower, connecting the building to the energy of Rutgers University and the movement of New Jersey and NYC with convenient public transportation.”
Image courtesy Inglese Architecture + Engineering.
Newark’s spin on Urby, expected to be built as a wrap in the spring of 2022, will include a rooftop terrace, a courtyard on the ground floor, a gym, lounge areas and a music room. After opening a 69-story Urby Tower in downtown Jersey City in 2017, it will be the brand’s third outpost in New Jersey. The company also operates a 409 unit building in Harrison.
As for the Garden State, a 25-story Urby concept was approved in Jersey City’s Journal Square last year, which was intended to lay the groundwork ahead of the COVID-19 pandemic outbreak. Another Urby of 466 units was pitched for land near Hudson County Community College.
Urby has two other completed developments on Staten Island and in Stamford, Connecticut. The brand has recently had a goal of expanding across the country, with plans now to bring its developments to multiple cities, including Dallas, Texas and Washington, DC