Abandoned 150-year old N.J. hospital to be transformed into 42 housing units

Ellavoz Impact Capital secured $12 million in state tax credits to transform a long-vacant historic hospital in Newark into affordable workforce housing for healthcare workers, students and mobile professionals.

New Jersey Economic Development Authority Dr. Martin Luther King Jr. The original St. Last month awarded Historic Property Reinvestment Program tax credits for the restoration of St. Michael Hospital buildings.

Construction is expected to begin in early 2026.

The attached structures, built in 1869, have sat vacant for more than two decades, according to one report. expression By Ellavoz Impact Capital.

The real estate developer plans to transform the 104,000-square-foot building into Newark Commons, which will include 42 residences with 146 bedrooms.

Newark Commons project 292-306 Dr. Martin Luther King Jr. Blvd. It is located at.

The project addresses Newark’s rapid rent growth since the COVID-19 pandemic by providing affordable housing downtown, officials said.

Twenty percent of the units will be designated as affordable housing for low- and moderate-income residents.

The restored building will also include social amenity space and 4,500 square feet of commercial and retail space overlooking Central Avenue.

Newark’s zoning board of adjustments unanimously approved the development plan earlier this year.

In September, the City Council approved a 30-year tax abatement to help make housing affordable.

State tax credits will be combined with federal Historic Preservation tax credits that have already received approval from the National Park Service.

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