[chris08876]

Project: The Makers Mansion

As part of the proposal, the mansion would be rehabilitated “in a historically respectful and accurate manner,” and could feature rooms named for notable Newark natives. A new neighborhood, called a ‘Makerhood,’ would be constructed behind the building that would feature an urban farm, a plaza, 16 affordable apartments, 50 market-rate apartments, 36 parking spaces, and 16 to 20 shops, including restaurants, a dining facility possibly created in partnership with the Rutgers Food Innovation Center, artist spaces, and possibly a pub called Krueger NanoBrew. This community would include a five-story building, a seven-story building, and a ten-story building.

The project would be developed by Avi Telyas of Seaview Development, and calls for creating an affordable live/work center for makers, entrepreneurs, and micro-manufacturers that would include a business incubator, co-working space, educational support, and a community event space with a monthly speaker series. According to plans obtained by Jersey Digs, “for a combined $1,800/month an entrepreneur can lease a workspace to conduct a business such as retail, light manufacturing or artistic activities, and occupy an apartment above it for a zero-commute, low-cost operation.” There would be revenue of over $500,000 per year with a net cash flow of $24,390. 85 jobs are expected to be created upon completion of the development.

=====================
JC_Digs