Newark Arts Commons

The new home of nonprofit art organizations and affordable studio space for local makers and artists.

Investment

  • NMTC Amount: $2,000,000
  • Total Project Cost: $23,274,044

IMPACT

  • 28 FTE jobs
  • 70 construction jobs
  • 3,500 low-income children and youths will be served annually by educational programming from GlassRoots

Investor

Project Description

The original St. Michael’s Hospital, established by the Franciscan Sisters of the Poor in 1869, iscome the Newark Arts Commons, a center for arts education and creative co-living. It will become the new home of nonprofit art organizations and affordable studio space for local makers and artists.

MAP

Address: 306 Martin Luther King Jr. Boulevard, Newark, NJ 7102

Census Tract: 34013022900

Other New Jersey Projects

Financing for a much-needed childcare center in Neptune, NJ.
This project provided financing for Accurate Box, a manufacturer of boxes and a family, women-owned business with a commitment to one of the poorest communities in NJ
AeroFarms, a mission-driven company, developed a 69,000 sq. ft. industrial site into the world's largest indoor vertical farm for baby leafy greens, producing up to 2 million pounds annually.

Rehabilitation of the former “craneway” building adjacent to the Sponsor’s existing Building 78, which will result in 90,000 sq. ft. of flexible office space targeted to small business including businesses