All Forum Posts by: David Wrenn

@Mark F. unfortunately they found lead in a large scale mixed use building we worked on about a decade ago just this week which wasn’t supposed to be possible to do to the size of the lines carrying the water into the building.  I’m happy they’re taking it seriously and addressing the problem however around 2.5 years to replace the lines is really unfortunate for the residents of the city.

@Mark F. the whole lead in the water things kinda hurts too.  

@Mark F. are there nice areas of Newark....depends on how you define nice lol.  I’m working on my second large mixed use project here.  This one is in the DTFD and it’s really starting to change my opinion of Newark.  There is a great passion within much of the political community, headquartered businesses like Prudential/Audible etc for change and it’s happening rapidly. 

I just met with one of the developers of the old baseball stadium and they demo’d an entire semi pro stadium in a week wanting to get in ground in a hurry.

I would check out the Iron Bound, Halsey street,  etc in DT.  Forrest Hill is also “nice” for Newark standards.

@Kuron McGraw Newark has the highest delinquency rate on mortgages in the nation hovering around 36% last time I reviewed the numbers.  

@Lashawn McCauley I'm working on a large scale mixed use rehab in Newark now with a particularly connected developer.  I'd rather not mention names. I have some insight on the topic. We all know the 2 inch'ish in diameter size piping doesn't go to large scale buildings and the reservoir feeding the water is supposed to be the clean one to this part of town..... or do we.  They just tested 1180 Raymond which is a large scale mixed use project we worked on over a decade ago (couple hundred units) in the FD section of Newark near Penn Station and yep they found lead in their water.  The water crisis will only get far worse from a publicity standpoint and doesn't help with the City's stigma.  Not all of Newark is supposed to affected, not sure I believe that.  I'll leave this here.... even though this project is in the safe zone, I would not drink the water.

Yes and no.  They do get removed pretty quickly however.  If I can find the code restrictions again I'll post the link.

@Sharon Vornholt  Go straight to the attorney's and admin support, network with them, buy their office lunch(depending on the size) etc.  Demonstrate your value as a painless option for a grieving and/or family in turmoil over who gets what.  Get the leads direct as a referral and you'll close far more deals.

@brandonArce Greenville is not a bad area to invest but the neighborhoods can get a little dicey from block to block, McGinley Square and Bergen Lafayette is where I would put my money in JC.  There are significant plans for both areas with a few of our clients.  If you'd like a development map of JC let me know.

If you're going to look at Newark there's a new program through the city called "Live Local" https://www.newark-alliance.org/livelocal/ and essentially they're giving out grants of $2,500 to $4,000 if you're renting and up to $7,000 for "approved exterior improvements".  The catch is you have to live and work in Newark or one of the eleven contiguous border sharing towns like Maplewood, Kearny, East Orange etc.  This is a great incentive for your renters, if you don't work in the area maybe you can form a shell company?