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Old Posted May 8, 2017, 11:58 PM
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Location: New Jersey - Somerset County
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NEWARK, NJ | 558-568 Market Street + 49-51 Polk Street | FT | 5 FLOORS

Project: 558-568 Market Street + 49-51 Polk Street

As Newark’s Ironbound neighborhood continues to experience growth, and as the city’s waterfront along the Passaic River is revitalized, more developers are seeking to build residential units in the area. Now, another such project has been proposed for the area.

Plans have been revealed for a new mixed-use development at 558-568 Market Street and the neighboring lot at 49-51 Polk Street in the city’s East Ward. According to a legal notice that was issued on April 24th by the City of Newark, the building is slated to be five stories tall, and would contain 56 residential units on the second, third, fourth, and fifth floors.

Retail space and parking are planned for the ground floor. A rendering of how the building is expected to look when completed was included in a December presentation by East Ward Councilman Augusto Amador and TD Bank, which referred to the project as the ‘Market Street Apartments’, though only 20 units were listed as being proposed for the development at the time.

Albino Cerqueira of MarkPolk, LLC, which is registered out of a warehouse on Wilson Avenue in an industrial section of the East Ward, is listed as the project applicant. MarkPolk is seeking Preliminary and Final Site Plan Approval with variance approvals for having insufficient front yard setback, exceeding the maximum lot coverage, and insufficient building transparency.
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