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For longtime North Jersey locals and seasoned beer aficionados, Ballantine Brewery is likely a household name. Founded in 1840, the beer brand was a staple in Newark’s Ironbound neighborhood for more than a century and produced millions of barrels in the time it operated. It was one of America’s oldest beer brands — that is, until it officially closed its doors in 1972.
But now, the Ballantine name has been brought back to life: The site of the brand’s former headquarters has been transformed into a sprawling six-story, mixed-use development aptly named The Ballantine.
Designed by Minno & Wasko Architects and Planners, the $88 million project by Shorewood Real Estate Group is located at 80 Freeman Street. It boasts a list of sleek design details and luxurious modern amenities, all within close proximity to Ironbound’s bustling food scene, local boutique shops and Newark Penn Station.
“Newark’s Ironbound is known for its vitality, diversity and distinct character,” said Jacqueline Urgo, President of The Marketing Directors. “The Ballantine adds a fresh dimension to this unique neighborhood, offering modern living options that align with its dynamic appeal.”
The property includes 280 studio, one- and two-bedroom rental units — with 34 of them being affordable housing units — that will officially be open for pre-leasing in February, and occupancy in March, with pre-leasing starting in February. With prices starting in the $2,000’s, they include features like nine-foot ceilings, oversized windows, in-unit washers and dryers, custom closets, stainless steel appliances and private patios or terraces in select units.
Allison Ladd, Newark’s deputy mayor for economic and housing development, said that when they were originally planning this transformational project, she was adamant that they needed to include affordable housing units.
“One of the primary things we said when we met was that this project needed to have affordable housing, and I’m really proud to say that you really kept your commitment and your guarantee that we would have affordable housing here in this beautiful site,” she said at a ribbon cutting ceremony for the project on Wednesday.
Residents will also have access to a variety of community amenities within the development, including a 24-hour concierge, rooftop deck, fitness center, game room, pet spa and on-site parking with EV charging station. There’s also 2,600 square feet of retail space built into the property.
S. Lawrence Davis, CEO of Shorewood Real Estate Group, said the property is located on an Opportunity Zone: A federal program that was designed to courage long-term investments in economically distressed communities. On Wednesday, he said he believes The Ballantine serves as an illustration for the program’s potential.
“We bought this property in November 2019 and we had a vision as to how we could…
Read More: New rental community to open on former site of historic Newark brewery
