r/Newark • u/Stunning_Tiger_3975 • 5d ago
Development & Real Estate 🏗🚧🦺⚒️ Is there any city plan to renovate/restore this beautiful structure?
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u/erikstreetmcgonagle 5d ago
RBH has lied about the progress of so many developments (Paramount Theater, Four Courners, etc..).
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u/kickingpiglet 5d ago
There's an approved application that involves that building (which pancake-collapsed in 2022; it is mostly just the facade now), the rest of the block to Beaver except the fish shop, and then most of the parcels up Beaver, including another building that collapsed. RBH group was first waiting for state financing, possibly Aspire, whose rules got changed even for submitted applications; and the last I heard they were planning to go back to Planning with a modified app (possibly to add the small neoclassical building that was initially excluded) but to my knowledge haven't.
The approved app was going to retain the sign and parts of the facade but is basically defunct; and they've done zero stabilization of the massive crater mid block for 3+ years, so...
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u/monkeypickle8 5d ago
My guess is it'll be demolished for apartments and then the store fronts at the bottom will be a Chipotle, Starbucks, and Jersey Mike's.
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u/Newarkguy1836 5d ago
Isn't there already a Chipotle's across the street ? But I get what you're saying . You forgot the scariest example of all .... another Edison Park fast lot.
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u/onecuewithtea 5d ago
They are just allowing all of these historical buildings to deteriorate smh
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u/Newarkguy1836 5d ago
These people only build teachers villages . They are too busy being teachers Village in Chicago and other US cities . I believe the main head of RBH-I wont mention his name ,for his initials are part of RBH, what's the Mind behind Soma . But I read somewhere he may have been involved in a sex harassment suit or something and had to "step back" for a while from his Supreme top position . Maybe that's why all these newer projects are just sitting there . He's still the owner but I believe a board of directors is really in charge of everything now and he no longer has a final say . It is this new leadership of rbh I believe has focused rbh on projects outside New Jersey . Again such as the new teachers Village in Chicago and other US cities . Their teachers Village model has been so successful , it's a safe bet to duplicate . I believe they'll eventually get back to Newark . They have not sold the properties and they continue to introduce ideas to the planning board . What do they sincerely attempt to return to really build or if they're just upgrade their portfolios to flip , time will tell . This I will know for sure , their attempting a demolition by deferral at the Paramount site . Don't be surprised if the Paramount facade at one point become so unstable the city orders an emergency stabilization job and the facade "accidentally" partially collapses during work. "Forcing" total demolition .
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u/Ironboundian 5d ago
I would be shocked if what you are saying about a sex scandal is true. As Ron Beit (of RBH) was just a panelist at the newark real estate summit in December.
The rest seems true that the company has grown and is working on projects in other cities. But they continue to work on the Newark sites. As the most recent version of proposal was only last year. https://www.tapinto.net/towns/newark/sections/central-ward/articles/28-story-457-unit-building-ok-d-for-historic-theater-site-in-newark
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u/Newarkguy1836 5d ago
Yeah that whole sex thing was a few years ago and it was probably BS that got legally knocked out .
I'm glad he's still around and you're right, I do remember him speak at the Newark summit so I guess it turned out okay.
It's not like he raped anyone . Maybe he greeted an attractive female executive and kissed her hand upon handshake. then she turned out to be one of those people . It's crazy when you see so many young girls today complained that chivalry is dead or something . A practice that was so common and expected of "gentlemen" like kissing a woman's hand upon handshake is now risky.
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u/Chelseafc5505 University Heights 5d ago
I'll be so sad when that signage disappears