Page 23 - CooperatorNews New Jersey Spring 2021
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NJ.COOPERATORNEWS.COM  COOPERATORNEWS NEW JERSEY  —  SPRING 2021    23    Advertise In CooperatorNews New Jersey   Marketplace —Call 212-683-5700—  Target Key Decision Makers In The Condominium, Co-op,   and HOA Community By Placing Your Ad Here  MARKETPLACE   For schedule and ad rates, contact Fred Marks at (786) 404-1701.  LAUNDRY  EXPERT TESTIMONY  PROPERTY MANAGEMENT   PROPERTY MANAGEMENT   REACH FOR THE STARS   WE MANAGE OUR CUSTOMERS ABOVE & BEYOND  At Executive Property Management, we are light years   ahead in our profession. For more than thirty years, we   have successfully focused on providing our customers   with unrivaled value in areas of financial consulting   and reporting, customer service, cost control, technology  and integrity. Let us guide you to a brighter tomorrow.  www.epmweb.net  of Newark’s residents—who are 86% Black   and Latinx—live.   This has led to a concerted effort to   redevelop  these  areas  without  gentrify-  ing them—specifically by investing in new   affordable housing and more homeowner-  ship opportunities for the existing popula-  tion that is 78% renters.   Developer Siree Morris grew up on the   street where he plans to build an affordable   housing complex named for his slain broth-  er, Michael, says the   Times  . He has already   converted one of Newark’s estimated 2,000   vacant lots into six 3-bedroom apartments   and will be developing condos made from   shipping containers nearby.  “You take it one property at a time, one   parcel at a time,” says Morris, who still lives   in Newark. “That’s the only way to rebuild   a community.”  Many of the area’s redevelopment proj-  ects have been undertaken by members of   the  community who have participated in   education and mentorship opportunities   that Mayor Ras J. Baraka instituted in a   push for “equitable development,” which he   defines as building wealth among residents   and  creating  opportunity  for  minority-  owned businesses.  But others are skeptical that the mayor’s   tactics will have the desired effect. Marjorie   Perry, a longtime developer who lived in   Newark public housing until she was 10, is   working on several major construction proj-  ects in the city. She says that the economic   devastation brought about by the coronavi-  rus pandemic will make it even harder for   locals to secure loans or even afford slight   increases in rent. More than a quarter of   Newark’s 282,000 residents live in poverty,   notes the   Times  . Unemployment in the city   has more than doubled since the start of the   pandemic, reaching 17% in November. One   in 340 Newarkers have died from coronavi-  rus complications.    There are potential silver linings, how-  ever. According to the   Times  , Newark city   records show that more than 3,500 units of   affordable  housing  have  been  built  or  are   underway in New Jersey’s largest city, much   of it outside downtown.   Allison Ladd, a former top housing offi-  cial in Washington, D.C. who was hired   as Newark’s redevelopment guru about   18 months ago, sees the pandemic as an   opportunity  for transit  hubs  like Newark   to be a relocation target for both residents   and corporations in higher-density cities.   (Manhattan is 15 minutes away.)  “We  have to take the opportunity and   figure out what the future can be,” says   Ladd. “You’ve got to  do it all.  You can’t   just do one thing.”   PropertY ManaGement  FirstService Residential Adds the Pearl to   Its Portfolio  FirstService Residential announces in a   press release that it has contracted to pro-  vide full-service property management   services to the Pearl—a six-story high-rise   in Edgewater. FirstService Residential cur-  rently manages more than 60 high-rise   communities along New Jersey’s Gold   Coast, notes the release.  “We’re thrilled to announce our partner-  ship with the Pearl,” says Michael Mendillo,   president, FirstService Residential. “Our   team’s experience and  knowledge of the   local market will ensure a successful part-  nership for years to come.”  The 120-unit building features a state-  of-the-art fitness center, a heated outdoor   pool, a rooftop deck  with BBQ,  a pier for   sunbathing, a garden, club rooms, and a   dog run, along with 24/7 security and con-  cierge services for its residents. The Pearl’s   Edgewater location offers proximity to din-  ing and shopping, as well as quick access to   Manhattan and views of its skyline and the   Hudson River.   n  Please submit Pulse items to  Darcey Gerstein at  darcey@cooperatornews.com


































































































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