NEWARK, N.J. — Bogopa Enterprises and Shorewood Real Estate Group have secured construction financing and are underway on the development of Ballantine Phase II. The $190 million project is the second phase of Shorewood’s redevelopment of the former P. Ballantine & Sons brewery site, where beer was produced in Newark for more than a century before the brewery closed in 1972. Phase I, an $89.5 million, 280-unit development, was completed in 2025. A 57,500-square-foot Food Bazaar will anchor the ground floor of the seven-story, 501-unit second phase. Shorewood Real Estate Group and Bogopa Enterprises, operator of Food Bazaar, are developing the project through a joint venture. PCCP provided a $130 million senior construction loan. Demolition has been completed, and delivery of the project is slated for the fourth quarter of 2028.
Construction of Ballantine Phase II, a redevelopment of the Ballantine Brewery site at 412-426 Ferry St. in Newark, N.J., is underway. The project will include 501 units, 101 of which will be affordable. Rent restrictions were not disclosed. New York City-based Shorewood Real Estate Group is the developer, and Bogopa Enterprises is the project partner.
Shorewood Underway on $190M Second Phase of Brewery Redevelopment in Newark
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