[Nexis4Jersey]

A fresh start: In Newark, developers see demand for new units
June 9, 2015 at 7:30 AM


60 Nevada in Newark, an affordable housing development by RPM Development Group. - (Photo / AARON HOUSTON)

It was late April when RPM Development marked the opening of its newest apartment building in downtown Newark, known as 60 Nevada, but roughly half of its 75 units had already been leased by the time executives and city officials gathered for the ceremonial ribbon-cutting. If you ask Joe Portelli, that came as no surprise.

“That’s not uncommon for Newark,” said Portelli, vice president of development at the Montclair-based firm. “There’s a tremendous demand for high-quality affordable units here. … A lot of people come from nearby, people who are in town looking to upgrade their housing. And I think that you’ll find that there’s a lot of affordable housing in Newark, but the difference is quality that’s safe, that’s clean.”

Read More Here : http://www.njbiz.com/article/2015060...-for-new-units