Tax Abatement Possible for Upcoming 403-Unit Development in Newark’s Ironbound

More than four years after a company first proposed replacing a private parking lot in Newark’s Ironbound section with a 12-story development, a lengthy tax abatement could be granted as part of the project.

An ordinance was introduced by the Newark Municipal Council on June 2 involving the 55 Union development that is in the works for 51-57 Union Street and 28-50 McWhorter Street in the East Ward.

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