Saturday, February 23, 2019

Queen Latifah building $14M worth of new housing in Newark NJ

Hip-hop icon Queen Latifah (Dana Owens) is returning to her hometown of Newark to invest in a cluster of multi-family town homes along Springfield Avenue and South 17th Street.

The $14 million project is expected to break ground in the summer.

Latifah, a co-president of BlueSugar Corporation, is working with GonSosa Development on the project, which is anchored outside of the city’s downtown, spanning the West and South wards.

The project includes 20 three-family town homes and a three-story mixed-used building with an additional 16 units. Plans for the building include a fitness center and 1,900 square feet of commercial space that will be rented to nonprofits. The 60 units in the townhouses will be market rate; the 16 units in the building will be affordable.

Rents for the market rate units will start around $1,800 a month and are expected to open by December 2020. The affordable housing building is expected to be finished in December 2021; units there will be priced according to a person’s income.

[SOURCE: NJ.COM]

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