Newark Arts Commons

New Markets Tax Credit Coalition

Newark,
NJ
(2019)

Newark Arts Commons

Affordable Housing, Community, Daycare and Early Childhood, Historic Rehabilitation, Housing, Makerspace, Manufacturing, Mixed-use, Youth and Families

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

CDEs

National Trust Community Investment Corporation

Investor

Unknown

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

Kearny Point Building 197

Kearny,
NJ
(2017)

Incubator, Manufacturing

CDE(s): GS New Markets Fund, New Jersey Community Loan Fund

A 130-acre former federal shipyard transformed into an environmentally sustainable business hub for innovation and economic growth.

Second Street Youth Center

Plainsfield,
NJ
(2018)

Community, Daycare and Early Childhood, Shelters and Community Food, Timber and Agriculture, Youth and Families

CDE(s): Capital One, New Jersey Community Loan Fund

Early childhood educational and community center expands educational opportunities for Plainfield children.

Bottino’s Shoprite

Vineland,
NJ
(2012)

Behavioral Health, Community, Daycare and Early Childhood, FQHCs, Grocery and Fresh Food, Healthcare, Mixed-use, Retail, Retail and Commercial, Youth and Families, Youth Program

CDE(s): Brownfield Revitalization, CCG Community Partners, The Reinvestment Fund

Bottino's ShopRite in Vineland, the family-run grocery chain that included a community health clinic.

Aerofarms/Makers Village

Newark,
NJ
(2015)

Adult Education, Business Development, College or Vocational Training, Community, Culinary Entrepreneurship, Food Manufacturing, Incubator, Manufacturing, Retail

CDE(s): Dudley Ventures, GS New Markets Fund

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.