Halo-Tower-Newark-New-Jersey

Parkview Financial Provides $90M Construction Loan for Newark Multifamily Project

by Taylor Williams

NEWARK, N.J. — Los Angeles-based Parkview Financial has provided a $90 million construction loan for Phase I of The Halo, a 43-story high-rise apartment building in Newark. Phase I will consist of 297 units with a mix that comprises 156 studios, 84 one-bedroom units and 57 two-bedroom units. Amenities will include a pool, sauna, fitness center, multiple lounge rooms, a game room, conference rooms with private office suites, shared workspaces and a rooftop deck. The borrower, New Jersey-based Acier Holdings, has secured approval to develop up to 949 units across three towers on the site. Two New York City-based firms, INOA Architecture and general contractor Hudson Meridian HM, are respectively designing and constructing the project. Construction of the initial phase is set to begin immediately, with completion slated for January 2024.

 

 

 

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