A $1 Billion Real Estate Boost for Battered Newark
- New Jersey project includes offices, stores, homes and a hotel
- SJP, Aetna Realty plan high-rise development by commuter hub
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SJP Properties and Aetna Realty are planning to spend as much as $1 billion on a project beside a Newark, New Jersey, commuter-rail hub, the latest in a spree of upscale developments that have brought new optimism to the long-suffering city.
SJP and Aetna, both based in New York, envision offices, stores, a hotel, homes and a large public plaza next to the Broad Street hub. The station is one of two in New Jersey’s largest city, the other being Newark Penn Station, about a mile to the southeast.