[Nexis4Jersey]

Matrix Development advancing its latest Newark project

By Joshua Burd March 4, 2015 at 2:29 PM

Matrix Development Group is moving ahead with its plans for a mixed-use development on a waterfront site adjacent to the Newark Legal Center and Panasonic's North American headquarters, the firm's top executive said Wednesday.

Joseph S. Taylor, CEO and president of Matrix, said the firm “is going through the planning process now” for a project whose first phase could include 220 residential units, a full-service hotel and underground parking at the 5-acre site. He said the firm expects to have applications into city officials by sometime in the second quarter.

“We’re hoping to be in the ground by this time next year,” Taylor said, starting with the parking component.

The head of the Cranbury-based firm spoke to NJBIZ after the annual real estate forecast event hosted by the Newark Regional Business Partnership.

http://www.njbiz.com/article/2015030...Newark-project