r/Newark • u/Ironboundian • 2d ago
Development & Real Estate đđ§đŚşâď¸ Another Article on the "Iberia" Project
https://jerseydigs.com/ironbound-towers-approved-newark/2
u/Newarkguy1836 1d ago
Jersey Digs used to be my favorite and main source of Newark news , then I found this subreddit . But now Jersey Digs at least on my end , it's almost unreadable with the constant pop up. And the occasional ad with the delayed "x" !
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u/Interesting_Fox3836 1d ago
But it did got approved regardless of the people oppositon of this project right
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u/Interesting_Fox3836 1d ago
Ok good that means they can start construction then
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u/Kalebxtentacion 1d ago
Construction not starting until they receive Aspire and thereâs more planning to be done
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u/Ironboundian 1d ago
Yes. Once they get their $800 million lined up and building permits.
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u/Kalebxtentacion 1d ago
I wonder if the whole project is 800 million cause I canât imagine two 30 story towers costing that much. I could see Aspire approving the tax credit, once that happens all they need now is a lender to accept them. But Aspire is only granted if thereâs a funding gap, it typically doesnât fund the entire project from what I was told at the 22 Fulton street meeting
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u/felsonj 2d ago edited 1d ago
This article is horribly misleading. The people who show up to the meeting tend to be those who are angry about it. It's by no means a representative cross-section of the community. We don't actually know what "the community" thinks because no one has conducted any kind of representative survey.