New Markets Tax Credit, Historic Tax Credit, State and City, NJ Tax Credits
Sponsor
Fidelco Realty Group
Private Financing
Debt
Historic Redevelopment and Adaptive Re-use
Rock Plaza is a $38 million historic redevelopment project in downtown Newark that transformed seven vacant buildings into a vibrant mixed-use district. The 110,000 square foot area now includes workforce housing, restaurants like Dinosaur BBQ and Chipotle, retail, and art galleries.
Monge Capital helped arrange financing using NMTC and Historic Tax Credits to support downtown revitalization.
Estimated Economic and Social Impact
100 jobs and 150 construction jobs. 80+ units of workforce housing.
