440 Washington - BRP Companies

440 Washington

Overview

440 Washington is a 200 unit building in Newark’s Central Ward. Initially built in the early 1970s under HUD’s 236 program, the building suffered from years of deferred maintenance. BRP devised a value-added strategy which included rehabilitation and financial restructuring to address the poor physical and financial state of the properties. Tenant in place construction began February 2018 and completed Fall 2019.

 

Location

440 Washington Street, Newark, NJ

Type

Workforce

Status

Complete

By the Numbers

200

Residential Units

$35M

Total Development Costs

 

800 SF

Fitness Center

1,500 SF

Community Space

Our impact

440 Washington partnered with St. James A.M.E. Church to restore 200 units for low income Newark residents earning 50% – 60% of Area Median Income. BRP, together with their partners, envisioned an modern living space complete with new fitness center and community space for the residents to enjoy.

Noteworthy

$10M Rehab At Newark Building Includes 200 Affordable Units

Renovations Complete At Newark Affordable Housing Project

Affordable Apartments In Newark Rehabbed With LIHTC Tax Credits

Share This