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3 rules stand out in the modern era regarding urban development: 1) location, 2) location, and 3) location. Newark is in too prime of a location not to have a major turnaround. Penn Station to Penn Station within 15 minutes.
The commercial development looks like it's already there: The PAC, Rutgers and Seton Hall Law, The Gateway Center, the law firm Proskauer Rose (that's a major firm, folks!), etc. The next challenge is the crime cleanup and residential development.
NY Sun columnist and real estate guru Michael Stoler has been pushing Newark real hard in his TV shows. And he's been pushing that location argument to the end. Right now, residential developers he's had on his show haven't bitten. Yet! Of course, the social and political realities of Newark have to be challenged head on.
However, individuals and some developers have taken chances and settled in economically and socially challenged neighborhoods and cities (for lack of a better phrase), have seen the revitalization, have the benefits of 15 minutes to work, and have had their property values fly through the roof! (see Harlem, and now looks like DC!).
Having worked in Newark, NJ for five years I did not once venture out for lunch. The city is trying to spur growth with PAC, but forget it- - Newark is a horrible city filled with drugs and crime
IMHO!
Having worked in Newark, NJ for five years I did not once venture out for lunch. The city is trying to spur growth with PAC, but forget it- - Newark is a horrible city filled with drugs and crime
IMHO!
The only part I would live in (and that's if the only other choice was Kabul) would be near the PAC or the Ironbound.
yea definatly dont move to newark with kids. living to see your teens in newark or any major city in jersey would be an accomplishment.
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Are you crazy!
