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g11235p t1_isz66hg wrote

Reply to comment by iGROWyourBiz2 in Newark Biz Scene by iGROWyourBiz2

As far as I know, they’re buying the properties because of tax incentives because it’s kind of a risky area for development (historically, I guess?). They put in place a big improvement plan for downtown in 2008, and then added two or three more big redevelopment schemes in basically the same area since the. There’s an entity called Newark Downtown District that is created by statute, funded by businesses, and supposed to look out for the neighborhood. They clean up lots of trash and host farmer’s markets. But when I tried to talk to them about this, it was obvious there’s no one who is in charge of talking to the public or listening to our views

Regarding affordability, there will be a certain number of units in each building designated for people who make something like 60% of median income. I don’t see how that helps because it’s still expensive

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iGROWyourBiz2 OP t1_iszcgl8 wrote

I think it takes about twenty years to see such areas begin to see development traction. Then another ten to get popping. So if this started in 2008, it might be on par with the norm.

Doesn't mean there are not opportunities for catalysts.

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