Mulberry Pointe, a pair of two 51-story mixed-use towers featuring more than 1,000 units of housing, recently was approved by Newark’s Central Planning Board.
The project, from KS Group and GIGA Holdings, will be located across from the U.S. District Courthouse, just down from the Prudential Center.
Mulberry Pointe, which will provide a massive increase in housing — 1,008 units overall, including more than 200 affordable units — does not have a timeline to begin. It still needs to complete its financing.
Calvin Souder, the founding partner of Souder Law Group who has established himself as the leading real estate attorney in the city, is confident it will.
“The initial financing has been secured,” he told BINJE. “Once we fill the gap, this will go.”
Souder said the project has all other necessary approvals.
The approval by the Central Planning Board was first reported by Jersey Digs.
The approved plan for Mulberry Pointe includes a three-story podium under the two 51-story mixed-use towers. The plan includes 388 valet parking spaces as well as parking on the second and third levels of the podium.
Mulberry Pointe also is expected to have approximately 3,500 square feet of commercial space along East Kinney Street.
Mulberry Pointe will have predominately one-bedroom units (537) but also include 146 studios, 283 two-bedroom units and 42 three-bedroom units.
