Newark Senior Residents Begin to See First Wave of Unit Improvements From $27M Investment

NEWARK, NJ — Essex Plaza One in Newark is already benefiting from a multi-million dollar investment in renovations and improvements just six months after New York-based real estate company Fairstead and investment firm LIHC acquired the portfolio.

The portfolio features a fully affordable housing set of properties in Newark home to hundreds of seniors and families. Essex Plaza One, which houses a 450-unit senior housing residence located at 1060 Broad St., is undergoing a $27 million investment in sustainable renovations, improvements and on-site support services. Additionally, more improvements are planned to come to the remaining 12 buildings in the portfolio.

 

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