“Baldwin Equities is looking toward the future, and we see Newark as a vibrant city and transit hub in close proximity to New York City with unlimited potential,” said Avi Benamu, Managing Partner of Winchester Equities, which partnered with Summit Assets to create Baldwin Equities. “We are excited to be part of the revitalization of this great city by bringing modern residences and top-tier amenities to the area.”

Four of the mixed-use properties in Baldwin Equities’ portfolio include:

·     43-53 William Street/The William – This 103,000-square-foot, mixed-use development featuring 63 luxury rental units with state-of-the-art amenities and over 14,000 square feet of rental space that is occupied by one of the nation’s fastest growing childcare centers, The Learning Experience. The project was completed in May 2022, is fully occupied and includes 20% affordable housing units.

·     810 Broad Street/Indigo Residence – Baldwin purchased the former Hotel Indigo and historic bank building in early 2022, transforming the 90,000-square-foot building in the heart of downtown Newark into a luxury, micro-apartment building with 100 premier furnished units, 20% of which will be affordable housing. Indigo Residence features a rooftop with stunning views of the Manhattan skyline, an incubator business hub, hotel-like amenities and an upscale southern soul food-inspired restaurant, Delta’s Southern Cuisine & Cocktails. Delta’s recently received a nearly $3.5 million grant from the New Jersey Economic Development Authority (EDA) for the renovation, which will include a restaurant and live music venue and rooftop lounge on the basement, first floor and rooftop of the building. The anticipated opening of Delta’s is in September 2024. Indigo Residence is open for pre-leasing.

·     303 Washington Street/The Distrikt – A former office building, Baldwin is preserving and converting 303 Washington Street into The Distrikt, a high-end, 100,000-square-foot residential building with 92 units featuring 12-foot ceilings and amenities like a screening room, a spa, a self-checkout minimarket and an indoor and outdoor rooftop. Baldwin has designated 20% of units as affordable housing. This project just received PILOT approval and is scheduled to open by the end of the year.

·     1033 Broad Street – An iconic Newark landmark, Baldwin partnered with local beloved non-profit Lincoln Park Coast Cultural District (LPCCD) to breathe new life into the former South Park Calvary Presbyterian Church facade located in the heart of Newark’s Lincoln Park, which has sat vacant for over decades until conveyed to LPCCD nearly 20 years ago. The 80,000-square-foot, mixed-use development property will include over 60 rental apartments for young professionals and artists, 20% of which will be affordable housing. The property will also include office space for LPCCD, as well as an outdoor terrace, rooftop and speakeasy to continue revitalizing the Lincoln Park community. Jointly with LPCCD, Baldwin recently applied for city planning approval. Pending approvals, the scheduled completion date is 2026.

Across all of its properties, Baldwin is committed to investing in the City of Newark:

·     20% of all Baldwin residential units will be affordable housing units.

·     Indigo Residence will offer flexible meeting and conference room space to local entrepreneurs to help attract, develop, and create a community for young professionals.

·     Sharing equity, LPCCD and Baldwin Equities are developing the “crown jewel” historic Lincoln Park Church Facade project which will positively impact the creative economy in downtown Newark’s Lincoln Park, with modern, flexible space and a permanent home for LPCCD to operate from.

“Newark is a great place to live, work and play, and the development taking place in Lincoln Park along the southern corridor of the Arts and Education District is a great example of all that the city has to offer,” said Anthony Smith, Executive Director of LPCCD, a nonprofit that is committed to supporting Newark’s Lincoln Park’s transformation into a healthy, safe and vibrant neighborhood. LPCCD is partnering with Baldwin to advance the historic Lincoln Park Church Facade Project, under the auspices of newly formed 1033 Broad Street. “We are excited to work with Baldwin Equities to expand safe, quality, affordable housing to continue increasing the quality of life in the area.”

To learn more about Baldwin Equities, visit: https://baldwinequities.com/.