The mammoth construction project known as Grove Pointe, rising near the Grove Street PATH Station on Newark Avenue, is expected to be complete in early 2007. The 29-story building will consist of 67 condominiums and 458 rental apartments. There will also be 535 parking spaces and 20,000 square feet of retail on the site.
Grove Pointe, which broke ground in May 2005, is being developed by SK Properties, a subsidiary of Schenkman/Kushner Affiliates based in Bridgewater.
The project will also include the revamping of a one-block section of Newark Avenue and a triangular park area which the developers would like to turn into a pedestrian plaza.
While some area residents have expressed concerns about the impact the project will have on the area, City Council President Mariano Vega, who lives a few blocks from the site, lauded the project.
“They built it to respect the historic district and they built down rather than encroach on the area,” Vega said.