NEWARK, NJ — Developers have announced plans to convert a vacant hospital building into a new apartment complex on Dr. Martin Luther King Jr. Boulevard in Newark.

Belmar-based Ellavoz Impact Capital LLC recently announced that it has purchased 306 Dr. Martin Luther King Jr. Boulevard, with plans to turn the 100,000 square-foot space into new workforce housing apartments.

The project – known as Newark Commons – will create 43 new housing units consisting of 144 bedrooms, which will be geared towards “young professionals” and students, developers said.

According to a news release:

“The development encompasses two interconnected buildings that served as the original St. Michael’s Hospital, built in 1869, and have been a part of Newark’s history for over 150 years. Using Historic Tax Credits, the project will preserve and adaptively repurpose this vacant historic structure which has been unoccupied for nearly two decades. The property will also tap Opportunity Zone equity, a capital tool designed to stimulate investment in under-resourced communities.”

Developers said that positive impacts from the project will include:

• “Reactivating a currently abandoned site in the Historic James Street Neighborhood, linking it to both downtown and University Hill. It will also serve as a gateway for those entering Newark from the western suburbs.”
• “Creating high-quality, price-attainable housing in a rapidly appreciating community with immediate access to public transportation, universities and downtown Newark.”
• “Providing substantial rehabilitation to a historically significant structure.”

“The original St. Michael’s hospital building was beautifully designed and represents classical architecture from the late 19th century,” Ellavoz COO Jeffrey Crum said.

“For too long this property has sat vacant and abandoned and represented the decline of Newark,” Crum said. “By adaptively repurposing this structure as workforce housing, we accomplish two important community goals: eliminating blight and creating price-attainable housing.”

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