For People Who Think Price Matters

For People Who Think Price Matters
This in from a Daily Newarker tipster, a Times piece about low-and-medium income housing units going up in Newark and Jersey City.

Similarly, in Newark — another revitalization site that has relatively little midpriced housing — there is a shortage that at least one developer is setting out to remedy.

“We think there is a crying need for work-force type of housing in Newark,” said the developer, Adam Mermelstein, whose company, TreeTop Development, recently moved its base to Newark and bought about 800 dilapidated rental units, some of them vacant.

TreeTop has begun rehabilitating and upgrading the first group of those apartments, some 293 of them in the Parkwood Place complex in the Forest Hills section, and others in eight buildings along one block of Martin Luther King Boulevard.

“We are looking to provide really nice, quality housing where police and firefighters, teachers, medical workers, municipal employees, and so on, will want to live — and be able to afford to live,” Mr. Mermelstein said. “We think this is a part of the Newark renaissance, but it’s not for the upper echelons, but for working people.”

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Author: Ken Walker

Husband, Father, Analyst. In a glass case of emotion since 1978.

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