$71M Newark high-rise renovation
12 years 9 months ago #1
by EsseXploreR
"It's better to regret something you did, then something you didn't do"
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$71M Newark high-rise renovation was created by EsseXploreR
NEWARK — A long-vacant 1920s high-rise in Newark with a marbled lobby and sweeping views of the city is expected to be converted into apartment-style housing for 350 Rutgers University graduate students.
The university’s board of governors today unanimously approved the $71 million renovation plan to turn the building at 15 Washington St. into a mixed-used residential complex containing furnished studios and one- to four-bedroom units. The 17-story building, located on the northern end of campus, previously housed the law school.
"It will be an investment by Rutgers University in a historic building in the city center of Newark, bringing back a building to life that has been basically mothballed for a decade," said the campus’s interim chancellor, Philip L. Yeagle.
The plan, which has been in the works for about six years, would meet a growing demand for on-campus housing. Overall enrollment at Rutgers-Newark has increased by about 2 percent annually over the past decade, Yeagle said. Just under 200 of the 4,300 graduate students live on campus, mostly in undergraduate dorms.
"They would probably like to cluster with people who are their own age," Yeagle said.
The neo-classical revival building, constructed in 1929, features a seven-story wing and a hall with a 20-foot ceiling and windows about 15 feet high.
The apartments would be located on floors two through 17. Officials plan to use the first floor and part of the second floor for a welcome center and admissions office, an auditorium, and a college store and cafe.
The project includes a 24-hour security/service desk, laundry facilities, an ATM, one or more computer labs and television lounges, a vending area and an exercise room.
The building is about one block south of the Broad Street train station, giving students quick access to public transportation. It is just south of the Rutgers Business School’s new location at One Washington Park and three blocks north of the law school.
Officials are required to conform to historic preservation standards during the renovation, since the building is located in the James Street Commons Historic District.
The university plans to issue bonds to finance the project, payable through student housing and capital improvement fees. Officials said some of the cost will be offset by tax credits and grants.
The renovation is scheduled to begin in October next year. It is expected to be completed in time for students to move in during the fall of 2015.
www.nj.com/news/index.ssf/2012/02/rutger..._forward_with_7.html
The university’s board of governors today unanimously approved the $71 million renovation plan to turn the building at 15 Washington St. into a mixed-used residential complex containing furnished studios and one- to four-bedroom units. The 17-story building, located on the northern end of campus, previously housed the law school.
"It will be an investment by Rutgers University in a historic building in the city center of Newark, bringing back a building to life that has been basically mothballed for a decade," said the campus’s interim chancellor, Philip L. Yeagle.
The plan, which has been in the works for about six years, would meet a growing demand for on-campus housing. Overall enrollment at Rutgers-Newark has increased by about 2 percent annually over the past decade, Yeagle said. Just under 200 of the 4,300 graduate students live on campus, mostly in undergraduate dorms.
"They would probably like to cluster with people who are their own age," Yeagle said.
The neo-classical revival building, constructed in 1929, features a seven-story wing and a hall with a 20-foot ceiling and windows about 15 feet high.
The apartments would be located on floors two through 17. Officials plan to use the first floor and part of the second floor for a welcome center and admissions office, an auditorium, and a college store and cafe.
The project includes a 24-hour security/service desk, laundry facilities, an ATM, one or more computer labs and television lounges, a vending area and an exercise room.
The building is about one block south of the Broad Street train station, giving students quick access to public transportation. It is just south of the Rutgers Business School’s new location at One Washington Park and three blocks north of the law school.
Officials are required to conform to historic preservation standards during the renovation, since the building is located in the James Street Commons Historic District.
The university plans to issue bonds to finance the project, payable through student housing and capital improvement fees. Officials said some of the cost will be offset by tax credits and grants.
The renovation is scheduled to begin in October next year. It is expected to be completed in time for students to move in during the fall of 2015.
www.nj.com/news/index.ssf/2012/02/rutger..._forward_with_7.html
"It's better to regret something you did, then something you didn't do"
abandonednjurbex.blogspot.com/
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