NJEDA Approves $90 Million in Tax Credits for Mixed-Use Building in Newark, New Jersey

by Channing Hamilton

NEWARK, N.J. — The New Jersey Economic Development Authority (NJEDA) Board approved $90 million in tax credits for a mixed-use building at 81-93 Orange St. in Newark. The high-rise project will comprise 350 units across 14 stories, 500 square feet of retail space and a commercial parking garage. Units will come in studio, one-, two- and three-bedroom floor plans. Of the total unit count, 70 will be reserved as affordable. Income restrictions were not disclosed. The total cost of the project’s development is expected to be $150 million.

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