NJEDA Approves $25.1 Million for Urban Revitalization in Newark and Atlantic City

The New Jersey Economic Development Authority (NJEDA) Board has given the green light to $25.1 million in Real Estate Rehabilitation and Development Grants through the Activation, Revitalization, and Transformation (A.R.T.) Program. This initiative aims to rejuvenate Atlantic City and Newark, addressing the economic challenges they faced during the pandemic. The approved grants, totaling 13 projects, will focus on renovating existing infrastructure and constructing new properties to create an attractive environment, fostering resident retention, talent acquisition, business growth, and downtown vibrancy.

NJEDA Chief Executive Officer Tim Sullivan emphasized the crucial role of New Jersey’s downtowns in the state’s economy and culture, with a commitment from Governor Phil Murphy to spark a resurgence post-pandemic. The funding enables the rehabilitation of vacant and blighted properties, encouraging businesses, commuters, and residents to return to city centers.

The A.R.T. program utilizes American Rescue Plan (ARP) State and Local Fiscal Recovery Funds (SLFRF) to reactivate Atlantic City and Newark’s commercial corridors after the impacts of COVID-19. These corridors serve as economic engines by providing jobs, offering goods and services, and supporting entrepreneurship.

Newark Mayor Ras J. Baraka expressed gratitude for the real estate and development grants, emphasizing their significance in nurturing Newark’s vitality and growth. Similarly, Atlantic City Mayor Marty Small, Sr., acknowledged the success of the Small administration in instilling investor confidence, especially in the Orange Loop area.

The approved grants cover various projects, including the “Surf Lodge” project, boutique hotels, shared arts and co-working spaces, container parks, ceramics/pottery arts studios, fine dining restaurants, and urban agricultural centers. These initiatives aim to create jobs, engage the community, and revitalize downtown areas.

This investment aligns with NJEDA’s dedication to supporting community development, and it marks a significant step toward the economic recovery and transformation of these cities.

The following Newark entities were approved for grants:

• Ablem Food Services NJ, LLC – $2,518,297
• Ablem Food Services will use the funding for the rehabilitation of a former office building space at 550 Market Street. “Melba’s 550” will include a 250-seat soul food inspired fine dining restaurant and large commissary kitchen for catering and satellite locations. The project is intended to create up to 250 jobs and looks to create long-term impact on the neighborhood by fostering community engagement, supporting local businesses, and increasing foot traffic.

• Delta’s Newark II, LLC – $3,494,933
• The entity will use the funding for the renovation of a historic bank building/hotel project located at 810 Broad Street. The new southern-Soul inspired fine dining project will include a 110-seat restaurant/music venue and a 120-seat rooftop lounge. The restaurant will occupy the existing 8,500 square foot of vacant restaurant space on the basement, first floor and rooftop levels.
• EqualSpace, LLC – $2,007,401
• Funding will be used for the renovation of multiple floors at 550 Market Street. The “=SPACE” is a shared space and incubator dedicated to providing a safe space for black and brown women, men, and those within the LGBTQIA+ community. The project includes three floors with resources for multiple types of entrepreneurs including virtual desk options up to head quarter office spaces for small business to medium size businesses. Amenities will include conference rooms, a podcast studio, classroom space, a multimedia studio, and an event space.
• Hospitality Concepts, LLC – $3,309,720
• The project will consist of the buildout of a vacant space at 110 Edison Place. “Katherine’s” will be a 175-seat restaurant, bar, microbrewery, and retail bakery. The project’s focus will be on revitalizing downtown Newark by filling a void of much-needed restaurant and event space and will support Newark’s arts & entertainment, catering, business events for the arts & entertainment, board of education, local/state government agencies, corporate partnerships, small businesses, and residential family needs. In addition, the brewery is planned to be leveraged as a tourist attraction for the city of Newark.
• Newark Science and Sustainability – $400,000
• Funding will be used for the new construction of classroom, office, and workspaces for an urban agricultural center located at 5 Fairmount Avenue. The “Garden of Hope Agriculture Hub and Sustainability Training Center” will create a Farm-to-Table cooperative, hold workshops on nutrition, urban farming, and generational sustainability, increase access to local food via farmers markets and the develop policy that encourages more consumption of local foods via Supplemental Nutritional Assistance Program (SNAP), Special Supplemental Nutrition Program for Women, Infants, and Children (WIC), and other assistance programs.
• New Jersey Performing Arts Center – $1,500,000
• New Jersey Performing Arts Center requested $1,500,000 to fund the Acquisition of land for the renovation and adaptive reuse of a former Episcopal Church office building. The “Cooperman Family Arts Education and Community Center Annex”, located at 31 Mulberry Street, will house educational classrooms, community gathering spaces and office space for NJPAC’s staff. The project will accommodate additional space needed for NJPAC’s expanding programs in Arts Education, Community Engagement, Arts & Well-being, and the creation of new performance work.
• Project for Empty Space – $1,010,189
• The project will consist of the renovation of a former office space into nearly 36,500 square feet of studio and public programming space on four floors of 800 Broad Street and the renovation of a former lobby space into a public gallery with 3,700 square feet of ground floor, park-facing space at 110 Edison Place in Ironside Newark. The project would allow Project for Empty Space to provide more public programming for growing audiences, and provide additional studio space, art production workshop, materials, and career development opportunities at a more deeply subsidized rate for local, working artists.
• RBH-TRB East Mezz Urban Renewal Entity, LLC – $1,061,312
• Funding will be used for the renovation of a vacant storefront in the Teacher’s Village complex located at 23 William Street. The project will create a new Newark Glass Art Center, including studios, classrooms, and offices, for GlassRoots, the 22-year-old Newark-based glassmaking nonprofit. The project will include galleries, educational spaces, offices, and arts workshops that serve as an anchor arts institution within Newark’s Arts and Education District and deepen its impact through continued and new programs with schools and community partners.