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Parkview Provides $90M for Construction of Newark High-Rise
Parkview Financial provided a $90-million construction loan to Acier Holdings for the construction of Phase I of The Halo, a high-rise apartment project at 289-301 Washington St. in Newark, NJ. Phase I will include 297 units in 38 stories over a five-level parking structure. At 43 stories, the project will be the tallest building in the city.
Acier Holdings acquired the site in 2017 and subsequently secured approval for a three-phased project to total approximately 949 units in three towers. With the loan in place, construction of Phase I will begin immediately, with completion anticipated for January 2024.
“Newark continues to see billions of dollars in capital investment for new and redevelopment projects and we have identified this as an expanding rental market, convenient to Manhattan and other major job centers for its residents,” said Paul Rahimian, president and CEO of Parkview Financial.
- ◦Financing

