L+M Development Partners, Prudential Financial Inc. and Goldman Sachs Urban Investment Group (UIG) on Thursday launched leasing for 211 residences at Walker House, the historic 21-story headquarters of New Jersey Bell at 540 Broad St. in downtown Newark.
The property combines first-rate amenities with high-end finishes in a landmarked building. Walker House is located steps from light rail, parks and cultural institutions, as well as the New Jersey Transit commuter rail station for a half hour ride into Lower Manhattan.
The Marketing Directors is exclusively handling the marketing and leasing for Walker House’s market-rate units out of an onsite leasing office that also opened on Thursday.
Walker House’s 54 affordable units were leased through a lottery administered by the building’s management company, C+C Management in the fall of 2018.
The restoration of the landmarked site, designed by architect Ralph Thomas Walker, at once honors downtown Newark’s history while celebrating its future as a mixed-use building that cultivates a live-work-play culture. The restoration of the Art Deco masterpiece included the renovation of its lobby and brick-and-sandstone exterior, both of which were added to the U.S. National Register of Historic Places in 2005.
The project received tax exempt bond financing from the New Jersey Housing and Mortgage Finance Agency, as well as key support from the City of Newark. Additional financing for Walker House was supported by National Trust Community Investment Corp. and New Jersey Community Capital.i