T
he New Jersey Performing Arts Center (NJPAC) is breaking ground on a massive mixed-use development in Newark, dubbed ArtSide. The project will bring 350 apartments, including 70 affordable units, two multifamily buildings, and 15 townhomes, along with ground-floor retail space. A community center and new headquarters for Newark's public jazz station are also part of the plan.

    The project has been six years in the making, but was delayed by the pandemic before receiving a boost from a $200 million tax incentive approved by the New Jersey Economic Development Authority. LMXD, an affiliate of L+M Development Partners, is leading the development effort.

    ArtSide aims to revitalize the area and generate profit for NJPAC to reinvest in itself and the arts. Newark Mayor Ras Baraka sees it as a way to shift the city's center of gravity. The project could also set a precedent for arts centers nationwide seeking new revenue streams.

    This is NJPAC's third commercial development, following One Theater Square and an upcoming soundstage project with Lionsgate. ArtSide and the soundstages are expected to generate $120 million in profit for NJPAC over 10 years.