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    The Buildings Mission Zero Network launches action report | News

    The Buildings Mission Zero Network launches action report | News

    Shopper Park Plus to launch euro-based IPO on Budapest SE | Property Forum

    Shopper Park Plus to launch euro-based IPO on Budapest SE | Property Forum

    New property market forecast: London rents to rise by nearly a quarter in five years

    New property market forecast: London rents to rise by nearly a quarter in five years

    Cardiff film studio secures £39m for expansion | News

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    Property remains the world’s biggest store of wealth | Property Forum

    Property remains the world’s biggest store of wealth | Property Forum

    Queensland real estate: ‘Tired’ and collapsing $39,000 home in outback Queensland finds a buyer

    Queensland real estate: ‘Tired’ and collapsing $39,000 home in outback Queensland finds a buyer

    Places for People launches new land division | News

    Places for People launches new land division | News

    NEPI Rockcastle completes infrastructure investment in Craiova | Property Forum

    NEPI Rockcastle completes infrastructure investment in Craiova | Property Forum

    Stocks poised for worst slump in two years as oil prices surge

    Stocks poised for worst slump in two years as oil prices surge

  • Retail
    Here’s Why Federal Realty Can Pay You for Years

    Here’s Why Federal Realty Can Pay You for Years

    Pittsburgh Mills sheriff’s sale canceled after owner pays $11.5 million in taxes

    Pittsburgh Mills sheriff’s sale canceled after owner pays $11.5 million in taxes

    Former Galleria Mall To Be Converted To Mixed-Use Residential, Retail Space In White Plains

    Former Galleria Mall To Be Converted To Mixed-Use Residential, Retail Space In White Plains

    Springfield approves $3 million in Community Preservation Act funding for 17 projects

    Springfield approves $3 million in Community Preservation Act funding for 17 projects

    Chinese Steel Tycoon Du Shuanghua To Buy Singapore Shopping Mall For $666 Million

    Chinese Steel Tycoon Du Shuanghua To Buy Singapore Shopping Mall For $666 Million

    Signs Of Distress Growing In NYC Office Market, But ‘The Worst Is Yet To Come’

    Signs Of Distress Growing In NYC Office Market, But ‘The Worst Is Yet To Come’

    Opinion | Housing is not a market, it’s an essential need

    Opinion | Housing is not a market, it’s an essential need

    Top investors on the market outlook

    Top investors on the market outlook

    BRIXMOR PROPERTY GROUP ANNOUNCES PROMOTIONS OF ANGELA M. AMAN AND BRIAN T. FINNEGAN

    BRIXMOR PROPERTY GROUP ANNOUNCES PROMOTIONS OF ANGELA M. AMAN AND BRIAN T. FINNEGAN

  • Residential
    BG Council asked to simplify and delay self-inspections of rental housing units – BG Independent News

    BG Council asked to simplify and delay self-inspections of rental housing units – BG Independent News

    San Francisco DMV Office Site May Morph Into Affordable Housing

    San Francisco DMV Office Site May Morph Into Affordable Housing

    Arlington breaks ground on affordable housing concept on city’s east side – NBC 5 Dallas-Fort Worth

    Arlington breaks ground on affordable housing concept on city’s east side – NBC 5 Dallas-Fort Worth

    Ohio nonprofit launches eviction relief program amid shortage of affordable housing

    Ohio nonprofit launches eviction relief program amid shortage of affordable housing

    Baptist Health Care Moreno campus emptied, REAP seeks housing help

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    Banks Wary of London Housing Projects Amid $1 Billion Value Drop

    Banks Wary of London Housing Projects Amid $1 Billion Value Drop

    Eastern District of Pennsylvania | Local Property Owner to Pay $90,458 to Resolve Alleged False Claims Act Violations Arising from HUD’s Housing Choice Voucher Program

    Eastern District of Pennsylvania | Local Property Owner to Pay $90,458 to Resolve Alleged False Claims Act Violations Arising from HUD’s Housing Choice Voucher Program

    The BLVD Group Announces Acquisition of Senior Affordable Property in Desirable Bay Area Residential Neighborhood

    The BLVD Group Announces Acquisition of Senior Affordable Property in Desirable Bay Area Residential Neighborhood

    China Evergrande Suspends Trading as New Trouble Roils Property Market

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  • Office
    Microsoft Sublets Space to Ramp in Flatiron District

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    Sheriff’s sale of Pittsburgh Mills mall canceled

    Sheriff’s sale of Pittsburgh Mills mall canceled

    Places This Week: Office complex sells, food hall to debut

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    YIT has sold Maistraatinportti office property to Fennia Mutual Insurance Company -September 29, 2023 at 09:01 am EDT

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    The Office Real Estate Depression – The Motley Fool

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    Sheriff’s Office Seeks Public Help Locating Two People Missing From Property Near Willow Creek | Lost Coast Outpost

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    Downtown Dallas needs new office space to attract business

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    TCW CEO Katie Koch Sees One-Third of Supply Taken Out of Office Real Estate

    TCW CEO Katie Koch Sees One-Third of Supply Taken Out of Office Real Estate

    Hong Kong Office Vacancy Rates Stabilize After 4 Months of Increases

    Hong Kong Office Vacancy Rates Stabilize After 4 Months of Increases

  • Industrial
    China Evergrande’s Problems Are Only Getting Worse

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    Longpoint Buys City of Industry Warehouse Park for $80M

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    Study: California’s property tax system not a good fit for Wyoming

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    Palm Beach Kennel Club site under contract for sale to Frisbie Group

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    China’s economic activity again weakened in September: China Beige Book

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    Amazon's Self-Driving Startup Scores Major East Bay Lease To Prep … – CoStar Group

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    City of Tallahassee, Leon County give final OK to budgets, tax hikes

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    Safestore CFO retires after decade with self-storage group

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  • Hotel
    Seaport Global Maintains Allegiant Travel (ALGT) Buy Recommendation

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    What to Pack for a Trip to London: A Complete Checklist

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    Redefining Trust in Digital Key Solutions

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    Piatt Companies names new CFO and executive vice president of investments

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    Everything Vincy Expo-Plus 2023 moves to ET Joshua Tarmac

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    Breeze CEO David Neeleman doubles downs on Breeze’s success, calls sustainable aviation fuel a ‘waste of money’

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    Barclays Maintains Sunstone Hotel Investors (SHO) Underweight Recommendation

    Barclays Maintains Sunstone Hotel Investors (SHO) Underweight Recommendation

    Hotel Intel: The luxurious Vista at Hilton Tel Aviv is ‘a little house on a hill’

    Hotel Intel: The luxurious Vista at Hilton Tel Aviv is ‘a little house on a hill’

    Navigating the Future: Hotel Facilities Management Market 2023 Analysis with Top Business Strategy and Key Players Decided to Invest

    Navigating the Future: Hotel Facilities Management Market 2023 Analysis with Top Business Strategy and Key Players Decided to Invest

  • Buying a Home
    Buying a home now unaffordable in 99% of America, report finds

    Buying a home now unaffordable in 99% of America, report finds

    Joe Jonas and Sophie Turner Didn’t Buy UK Estate, Despite ‘Forever Home’ Letter

    Joe Jonas and Sophie Turner Didn’t Buy UK Estate, Despite ‘Forever Home’ Letter

    6 Best Consumer Discretionary Stocks and ETFs to Buy | Investing

    6 Best Consumer Discretionary Stocks and ETFs to Buy | Investing

    What you need to earn to buy a home in Hamilton

    What you need to earn to buy a home in Hamilton

    Evergrande: Anxious Chinese home buyers reel from crisis

    Evergrande: Anxious Chinese home buyers reel from crisis

    Buying a home or a car no longer the top goal for Americans

    Buying a home or a car no longer the top goal for Americans

    Buying A Historic House | Bankrate

    Buying A Historic House | Bankrate

    3 Ways to Invest In Property Without Buying a House

    3 Ways to Invest In Property Without Buying a House

    They Wanted a House in the City for $1 Million. Would They Find It in Brooklyn or Queens?

    They Wanted a House in the City for $1 Million. Would They Find It in Brooklyn or Queens?

  • Selling a Home
    Inside incredible ‘Lamb House’ restoration

    Inside incredible ‘Lamb House’ restoration

    A 1940s Home by One of Austin’s Great Modern Architects Selling for $4.5 Million

    A 1940s Home by One of Austin’s Great Modern Architects Selling for $4.5 Million

    ‘Selling Sunset’ star Jason Oppenheim shares his 7 everyday essentials

    ‘Selling Sunset’ star Jason Oppenheim shares his 7 everyday essentials

    Amazon is selling a $22 tiny home ‘fun to build’ plan designed by an engineer and it can be delivered by tomorrow

    Amazon is selling a $22 tiny home ‘fun to build’ plan designed by an engineer and it can be delivered by tomorrow

    Do smart features sell homes?

    Do smart features sell homes?

    Joe Hockey to sell childhood home in Sydney’s Northbridge after 55 years, GWS Giants deputy chair Adrian Fonseca resets Terrey Hills record with $14.1m sale

    Joe Hockey to sell childhood home in Sydney’s Northbridge after 55 years, GWS Giants deputy chair Adrian Fonseca resets Terrey Hills record with $14.1m sale

    Food Delivery Robots Are Feeding Camera Footage to the LAPD … – Slashdot

    Food Delivery Robots Are Feeding Camera Footage to the LAPD … – Slashdot

    10 Top Selling Best Plastic Flowers for 2023

    10 Top Selling Best Plastic Flowers for 2023

    ITV Coronation Street star forced to sell home after making just £5,000 in a year

    ITV Coronation Street star forced to sell home after making just £5,000 in a year

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  • Home
  • News
    The Buildings Mission Zero Network launches action report | News

    The Buildings Mission Zero Network launches action report | News

    Shopper Park Plus to launch euro-based IPO on Budapest SE | Property Forum

    Shopper Park Plus to launch euro-based IPO on Budapest SE | Property Forum

    New property market forecast: London rents to rise by nearly a quarter in five years

    New property market forecast: London rents to rise by nearly a quarter in five years

    Cardiff film studio secures £39m for expansion | News

    Cardiff film studio secures £39m for expansion | News

    Property remains the world’s biggest store of wealth | Property Forum

    Property remains the world’s biggest store of wealth | Property Forum

    Queensland real estate: ‘Tired’ and collapsing $39,000 home in outback Queensland finds a buyer

    Queensland real estate: ‘Tired’ and collapsing $39,000 home in outback Queensland finds a buyer

    Places for People launches new land division | News

    Places for People launches new land division | News

    NEPI Rockcastle completes infrastructure investment in Craiova | Property Forum

    NEPI Rockcastle completes infrastructure investment in Craiova | Property Forum

    Stocks poised for worst slump in two years as oil prices surge

    Stocks poised for worst slump in two years as oil prices surge

  • Retail
    Here’s Why Federal Realty Can Pay You for Years

    Here’s Why Federal Realty Can Pay You for Years

    Pittsburgh Mills sheriff’s sale canceled after owner pays $11.5 million in taxes

    Pittsburgh Mills sheriff’s sale canceled after owner pays $11.5 million in taxes

    Former Galleria Mall To Be Converted To Mixed-Use Residential, Retail Space In White Plains

    Former Galleria Mall To Be Converted To Mixed-Use Residential, Retail Space In White Plains

    Springfield approves $3 million in Community Preservation Act funding for 17 projects

    Springfield approves $3 million in Community Preservation Act funding for 17 projects

    Chinese Steel Tycoon Du Shuanghua To Buy Singapore Shopping Mall For $666 Million

    Chinese Steel Tycoon Du Shuanghua To Buy Singapore Shopping Mall For $666 Million

    Signs Of Distress Growing In NYC Office Market, But ‘The Worst Is Yet To Come’

    Signs Of Distress Growing In NYC Office Market, But ‘The Worst Is Yet To Come’

    Opinion | Housing is not a market, it’s an essential need

    Opinion | Housing is not a market, it’s an essential need

    Top investors on the market outlook

    Top investors on the market outlook

    BRIXMOR PROPERTY GROUP ANNOUNCES PROMOTIONS OF ANGELA M. AMAN AND BRIAN T. FINNEGAN

    BRIXMOR PROPERTY GROUP ANNOUNCES PROMOTIONS OF ANGELA M. AMAN AND BRIAN T. FINNEGAN

  • Residential
    BG Council asked to simplify and delay self-inspections of rental housing units – BG Independent News

    BG Council asked to simplify and delay self-inspections of rental housing units – BG Independent News

    San Francisco DMV Office Site May Morph Into Affordable Housing

    San Francisco DMV Office Site May Morph Into Affordable Housing

    Arlington breaks ground on affordable housing concept on city’s east side – NBC 5 Dallas-Fort Worth

    Arlington breaks ground on affordable housing concept on city’s east side – NBC 5 Dallas-Fort Worth

    Ohio nonprofit launches eviction relief program amid shortage of affordable housing

    Ohio nonprofit launches eviction relief program amid shortage of affordable housing

    Baptist Health Care Moreno campus emptied, REAP seeks housing help

    Baptist Health Care Moreno campus emptied, REAP seeks housing help

    Banks Wary of London Housing Projects Amid $1 Billion Value Drop

    Banks Wary of London Housing Projects Amid $1 Billion Value Drop

    Eastern District of Pennsylvania | Local Property Owner to Pay $90,458 to Resolve Alleged False Claims Act Violations Arising from HUD’s Housing Choice Voucher Program

    Eastern District of Pennsylvania | Local Property Owner to Pay $90,458 to Resolve Alleged False Claims Act Violations Arising from HUD’s Housing Choice Voucher Program

    The BLVD Group Announces Acquisition of Senior Affordable Property in Desirable Bay Area Residential Neighborhood

    The BLVD Group Announces Acquisition of Senior Affordable Property in Desirable Bay Area Residential Neighborhood

    China Evergrande Suspends Trading as New Trouble Roils Property Market

    China Evergrande Suspends Trading as New Trouble Roils Property Market

  • Office
    Microsoft Sublets Space to Ramp in Flatiron District

    Microsoft Sublets Space to Ramp in Flatiron District

    Sheriff’s sale of Pittsburgh Mills mall canceled

    Sheriff’s sale of Pittsburgh Mills mall canceled

    Places This Week: Office complex sells, food hall to debut

    Places This Week: Office complex sells, food hall to debut

    YIT has sold Maistraatinportti office property to Fennia Mutual Insurance Company -September 29, 2023 at 09:01 am EDT

    YIT has sold Maistraatinportti office property to Fennia Mutual Insurance Company -September 29, 2023 at 09:01 am EDT

    The Office Real Estate Depression – The Motley Fool

    The Office Real Estate Depression – The Motley Fool

    Sheriff’s Office Seeks Public Help Locating Two People Missing From Property Near Willow Creek | Lost Coast Outpost

    Sheriff’s Office Seeks Public Help Locating Two People Missing From Property Near Willow Creek | Lost Coast Outpost

    Downtown Dallas needs new office space to attract business

    Downtown Dallas needs new office space to attract business

    TCW CEO Katie Koch Sees One-Third of Supply Taken Out of Office Real Estate

    TCW CEO Katie Koch Sees One-Third of Supply Taken Out of Office Real Estate

    Hong Kong Office Vacancy Rates Stabilize After 4 Months of Increases

    Hong Kong Office Vacancy Rates Stabilize After 4 Months of Increases

  • Industrial
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    China Evergrande’s Problems Are Only Getting Worse

    Stream Promotes Development Expert to Lead Its Central Region Industrial Development Team » Dallas Innovates

    Stream Promotes Development Expert to Lead Its Central Region Industrial Development Team » Dallas Innovates

    Longpoint Buys City of Industry Warehouse Park for $80M

    Longpoint Buys City of Industry Warehouse Park for $80M

    Study: California’s property tax system not a good fit for Wyoming

    Study: California’s property tax system not a good fit for Wyoming

    Palm Beach Kennel Club site under contract for sale to Frisbie Group

    Palm Beach Kennel Club site under contract for sale to Frisbie Group

    China’s economic activity again weakened in September: China Beige Book

    China’s economic activity again weakened in September: China Beige Book

    Amazon's Self-Driving Startup Scores Major East Bay Lease To Prep … – CoStar Group

    Amazon's Self-Driving Startup Scores Major East Bay Lease To Prep … – CoStar Group

    City of Tallahassee, Leon County give final OK to budgets, tax hikes

    City of Tallahassee, Leon County give final OK to budgets, tax hikes

    Safestore CFO retires after decade with self-storage group

    Safestore CFO retires after decade with self-storage group

  • Hotel
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    Seaport Global Maintains Allegiant Travel (ALGT) Buy Recommendation

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  • Buying a Home
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    Buying a home now unaffordable in 99% of America, report finds

    Joe Jonas and Sophie Turner Didn’t Buy UK Estate, Despite ‘Forever Home’ Letter

    Joe Jonas and Sophie Turner Didn’t Buy UK Estate, Despite ‘Forever Home’ Letter

    6 Best Consumer Discretionary Stocks and ETFs to Buy | Investing

    6 Best Consumer Discretionary Stocks and ETFs to Buy | Investing

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    What you need to earn to buy a home in Hamilton

    Evergrande: Anxious Chinese home buyers reel from crisis

    Evergrande: Anxious Chinese home buyers reel from crisis

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    Buying a home or a car no longer the top goal for Americans

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    Buying A Historic House | Bankrate

    3 Ways to Invest In Property Without Buying a House

    3 Ways to Invest In Property Without Buying a House

    They Wanted a House in the City for $1 Million. Would They Find It in Brooklyn or Queens?

    They Wanted a House in the City for $1 Million. Would They Find It in Brooklyn or Queens?

  • Selling a Home
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    Inside incredible ‘Lamb House’ restoration

    A 1940s Home by One of Austin’s Great Modern Architects Selling for $4.5 Million

    A 1940s Home by One of Austin’s Great Modern Architects Selling for $4.5 Million

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    ‘Selling Sunset’ star Jason Oppenheim shares his 7 everyday essentials

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    Amazon is selling a $22 tiny home ‘fun to build’ plan designed by an engineer and it can be delivered by tomorrow

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    Do smart features sell homes?

    Joe Hockey to sell childhood home in Sydney’s Northbridge after 55 years, GWS Giants deputy chair Adrian Fonseca resets Terrey Hills record with $14.1m sale

    Joe Hockey to sell childhood home in Sydney’s Northbridge after 55 years, GWS Giants deputy chair Adrian Fonseca resets Terrey Hills record with $14.1m sale

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    Food Delivery Robots Are Feeding Camera Footage to the LAPD … – Slashdot

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    10 Top Selling Best Plastic Flowers for 2023

    ITV Coronation Street star forced to sell home after making just £5,000 in a year

    ITV Coronation Street star forced to sell home after making just £5,000 in a year

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Interest Rate Hike Helps CitiSquare Clear Hurdle

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2022-07-28
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Interest Rate Hike Helps CitiSquare Clear Hurdle
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A looming interest rate hike that threatened the $2 billion redevelopment of Newark’s Bear Stadium site prompted the City Council to expedite an $18 million subsidy for the developer without a guarantee in writing of paying a prevailing wage or a labor harmony pact covering the construction and operations of the complex. 

But City Council President LaMonica McIver issued a stern warning to the attorney for the developer that the Council could revisit the deal if he failed to “act fast” on the outstanding labor issues and commit the firm’s promises to the unions on paper.

“We are 150 percent for labor here—the Council is and I know the Mayor is,” McIver told Calvin Souder, the attorney for the Lakewood based Accurate Builder & Developers. “We want to see this resolved by the end of the week.”  McIver also suggested to her Council colleagues, that going forward, the city come up with a kind of master union agreement that would “apply to all development of a certain magnitude because that’s the fair thing to do.”

“We have  committed to work with the unions and at the very least have ensured that we will pay fair wages on this particular site,” Souder told the Council. The developer’s lawyer conceded that “good faith” negotiations were ongoing with 32BJ SEIU and with Local 3 of the Laborers International Union of North America, but that nothing was yet committed to paper.

IN CITY IN A CITY

Accurate Builders & Developers already has approval to develop a mini-city on the 11-acre property located west of McCarter Highway and just steps away from New Jersey Transit’s Broad Street Rail Station. Previously, the site was home to the Newark Bears & Eagles Riverfront Stadium that closed in 2013 and was demolished in 2019. The plans call for the complex to include 11 buildings that will house 4,200 apartments as well as 100,000 square feet of commercial, office and hospitality space as well as require 3,000 parking spaces.

The ambitious plan, being marketed as CitiSquare, is to be completed over the next 15 years in nine phases. The initial round envisions  a pair of 18-story residential towers with close to 600 apartments tied together by a common floor that will include a restaurant and retail space. The developer has committed to providing more than 400 affordable units, a ten percent set aside, that got blasted by some of the activists in attendance at the hearing for being inadequate for a city in the throes of a serious  housing crisis. 

Members of the Council and a steady stream of speakers during the public comment portion of the hearing also took exception at the developer’s last minute effort to offer only a verbal commitment and a one sentence email to city officials to resolve the outstanding labor issues.

“I am not in for a pony ride,” said Council Member Louis Quintana. “I want it in writing before I vote and it is important. I have an obligation to the constituency of this city, not to the developer, to be a guardian….I would suggest we defer this in good faith until next week.”

April Fitch is a security officer at Liberty International Airport and is a member of 32 BJ SEIU, which represents 175,000 property service workers from Boston to Miami including 13,000 in New Jersey.

FAMILY SUSTAINING WAGES

“I was also born and raised in Newark and have lived through many of the cycles this city, my city, has seen,” Fitch told the packed chamber. “When it comes to its own building service contracting the City of Newark has acknowledged the importance of paying family-sustaining wages that are on par with the private commercial building service workers in downtown Newark. That is why we have a Prevailing Wage law for Building Service Workers.” 

Fitch continued. “However, these protections do not apply to development projects, even those receiving an abatement, such as the Bears Stadium project, also known as, CitySquare, where developers have not made commitments towards the building service workers that will eventually staff the development.”  

Fitch urged the City Council to vote no on the “$18 million tax abatement for this project until the developers commit – in writing – that they will do the right thing, pay fair wages, offer accessible quality healthcare, and paid time off.”

32 BJ SEIU has 3,500 building service employees under contract who work as janitors, security officers, porters, maintenance workers and building superintendents in Newark. 2,500 union members live in Newark as well.

“We can and must do more to ensure working families benefit from the multi-billion dollar projects,” said Carla Thomas, a 32 BJ assistant district leader. “32 BJ supports responsible development and welcomes investors in Newark. But we must ensure development benefits working families through creation of family sustaining jobs. Without a clear commitment to good jobs  for workers who service this luxury development will be left behind.”

Thomas added that prospective building service workers at the municipally subsidized project should be entitled to affordable healthcare coverage. “Nationwide, only 36 percent of workers in the lowest wage quadrant are offered [health] insurance and only 21 percent of these low wage workers participate in their employer’s plan,” she said. 

“Obviously, there is a lot of tension revolving around a project of this magnitude and rightfully so,” said Paul Roldan, president of Local 3 of the Laborers International Union of North America. “There are a lot of complexities as witnessed today in the beginning stages of a project and of course a lot of them include the community and the lack of effort in including the community is what seems to be an issue including the members of the community that are part of the laborers union and organized labor in the City of Newark.”

DIGNITY IN A DEAL

“If it’s not written down it’s not done,” warned community activist Debra Salters, a Newark resident and construction trades professional. “We know that in life we are taught that. So, yes, we need this in writing….I could tell you one thing right now and when the paper comes it is different….This can’t be a last minute conversation in the hallway or last minute email before I walk into the Council chamber.” 

Salters, who worked construction on the American Dream project said she was concerned that the developer’s commitment to pay a prevailing wage was only limited to so-called permanent workers. “We need to see that in writing,” she said. “Does the worker working today have a job tomorrow? This is why we need to see these things in black and white—concrete—this is what was said.”

Quintana’s motion to defer the authorization of the $18 million project subsidy only garnered one additional vote from Council Member Dupre L. Kelly, who was recently elected from the West Ward.

“I love that the prevailing wages are agreed to and the labor harmony agreement but I would like to see the labor harmony agreement,” Kelly said. “I am for the community and I am pro-union. I want to see all of that. I want to see us make the right decision for the people and have them included in this process.”

Accurate Builder’s lawyer warned the Council that his client had locked in an interest rate that was set to expire August 1 and that the “cost of the loans would double” derailing the project if the Council failed to vote to move forward. 

It was North Ward Council Member Anibal Ramos Jr. who suggested that the panel move forward on the project but “revisit” the $18 million subsidy “if we don’t have the [labor] agreement in a reasonable part of time.”

CLOSING RANKS

Joe Wilson is a labor historian and a strategy consultant for unions. He says it’s vital for 32 BJ and the building trade unions to “negotiate together and to be connected with the City Council and have everything codified in writing and iron clad so that the workers benefit and the community doesn’t get gouged with only a paltry 400 affordable units out of an over 4,000 unit development.”

“We are seeing some support which we really appreciate from the Mayor and the City Council pushing the developer to do the right thing which we are encouraged by,” said Kevin Brown, vice president of 32 BJ SEIU’s New Jersey Council in an interview before the July 26 hearing. “But the bottom line is do they get this money without a commitment for good jobs and benefits.”

During public comments Munirah El Bomani, a Newark housing activist, told the Council that the city’s existing inclusionary zoning and affordable housing strategy was seriously inadequate. 

“The rents are too high and the inclusionary zoning is not working for all Newarkers,” she said. “You need to get all hands on deck. We need you to designate land that should be turned back to public housing. We need you to give outsiders, wealthy people who are coming here and 20 percent [of the units] and give the community 80 percent of them.”

In February of 2021, the Rutgers Center on Law, Inequality and Metropolitan Equity (CLIME) issued a report that documented Newark needed to add 16,000 affordable housing units. The analysis did not include the latest economic statistic that captured the fallout from the pandemic, like rising foreclosures, homelessness and evictions.

According to CLIME, 59 percent of all Newark renters were rent burdened, paying more than a third of their income for rent while one third were paying more than half of their income for shelter. 40,000 Newark households earn less than $30,000 a year and compete for less than 20,000 low rent units.



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2023-09-30
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China Evergrande’s Problems Are Only Getting Worse

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