‘Largest-Ever Real Estate Project’ In East Orange Has 820 Rental Units

EAST ORANGE, NJ — When it’s complete, a $500 million development project in East Orange will have 200,000 square feet of retail, restaurant and commercial space, a public plaza and a 1,200-space parking garage.

It will also have another, much-needed commodity, developers say: 820 units of “mixed-income” rental housing.

On Monday, stakeholders gathered for a groundbreaking ceremony to kick off development at The Crossings at Brick Church Station, located at 533 Main Street in East Orange. A crowd of elected officials were on hand, including Gov. Phil Murphy, Lt. Gov. Sheila Oliver and East Orange Mayor Ted Green. Executives from Triangle Equities along with investment partners Goldman Sachs and Basis Investment Group and co-developer partner Incline Capital were also in attendance (watch the video below).

The first phase of The Crossings is scheduled for completion in late 2024. More than 85 percent of the retail space in the first phase is already pre-leased, developers said.

Here's what is in store for the property, developers said:

“The ground-up project at 533 Main Street will be built in two phases, delivering approximately 200,000 square feet of retail, restaurants and commercial space, a pedestrian promenade and public plaza, 820 mixed-income rental units, and a 1,200-space parking garage … Located along Main Street/Dr. Martin Luther King Jr. Boulevard between South Harrison and Halsted Streets, The Crossings will replace the former Brick Church Plaza, and include a nine-story building, a five-story building, and a seven-story parking garage. March Associates Construction, Inc. will serve as the construction manager and general contractor.”

The development will also include a ShopRite, developers pointed out.

“As the grocery anchor, the new ShopRite signed a long-term lease, giving additional confidence to the community that we are long-term investors who want to see this project, and the entire neighborhood, thrive for years to come,” said Lester Petracca, president of Triangle Equities.

According to Petracca, the public-private partnership leveraged New Markets Tax Credits, Low-Income Housing Tax Credits, Redevelopment Area Bond and “other financing tools” to gain the necessary funds.

Petracca said Triangle hopes the project will help to transform a neighborhood that has been “underserved” for decades. It’s a hope shared by the city’s mayor, who called it “one of the largest and most transformative projects that East Orange has ever seen.”

Green referred to an urban design term called “cityness” that describes how cities remake their downtowns into hubs for economic and social activity.

“The Crossings, right in the heart of our Transit Village, will bring the cityness back to East Orange, raise our property values, spur additional investment, and essentially improve the city’s overall fiscal and social health,” Green said.

“The ripple effect of this project will certainly be felt by future generations as it opens up doors for more jobs, entrepreneurship, quality mixed-income housing, new retail and shopping, and a common place for people to meet and experience the best of East Orange,” Green added.

• See related article: East Orange Churns With $1B In Real Estate Development, Firm Says
• See related article: $57M Renovation At East Orange Housing Complex Is Complete
• See related article: East Orange Program Gives Financial Boost To First-Time Homebuyers

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