Developer Moves Forward With 61-Unit Mixed-Use Project Near Seton Hall University After Securing $2.85M Land Loan

Private lenders are giving South Orange $2.85 million to buy land for a large project. The funding will launch a three-building mixed-use project near Seton Hall. Irvington Avenue needs the finances to build new houses, businesses, and infrastructure.

Financed 61 apartments and office space will be built on the ground floor of two neighboring Irvington Avenue houses. The land was bought for $5.1 million cash earlier this year. Total 2.20 acres from two properties. These parcels are near Seton Hall. Citizens and companies can live and shop here.

The project plan is complete, but construction won’t start until 2027. A huge mixed-use structure at 270 Irvington Avenue is the plan’s centerpiece. Over 11,000 square feet of business space and 41 residences will be there. Eight more apartments and 4,500 square feet for service or retail firms will be in a smaller building behind it.

A third building at 299 Irvington Avenue across the street will finish the project. Finally, this building will include 12 apartments and 7,000 square feet of business space. This will attract new people and activities to the growing neighborhood.

After careful planning, the project will offer 115 parking spots. Having residents and workers park above and below reduces traffic and meets infrastructure needs.

After getting the land loan, the developer plans and builds. South Orange’s economy, housing, and Seton Hall University’s student and town life should improve with the project.

Sources:
Kennedy Funding Press Information
Developer Project Summary