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Stadium developer reveals design for vast mixed-use project

Monday, July 31, 2017   (0 Comments)
Posted by: Brian Pontious
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The site now occupied by Bears & Eagles Riverfront Stadium will be a 24/7 community of apartments, office, retail and entertainment spaces comprised of three "blocks" designed by separate architects and surrounding a 1.5-acre courtyard, according to the developer.

"It's going to be amazing," said Ben Korman, founder and CEO of Manhattan-based Lotus Equity Group, which will tear down the stadium and build the 2.3-million-square-foot mixed-use project.

Lotus closed on a deal in November to purchase the former home of the defunct Newark Bears minor league baseball team from Essex County for $23.5 million.

The Bears folded in 2014, 15 years after the stadium was built at a cost of $34 million using public financing, leaving Essex taxpayers on the hook for $2 million a year in debt payments.


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