LeFrak and Simon Families Mark 40 Years of Newport with $2 Million Grant to Local Nonprofits
Investing in the Future of Jersey City
On September 24, 2026, Newport Associates Development Company, a collaboration between the LeFrak and Simon families, announced a significant philanthropic initiative marking Newport's 40th anniversary. The company awarded $2 million in grants to 40 nonprofit organizations in Jersey City. This donation doubles their initial commitment of $1 million, reinforcing their long-standing dedication to the local community and its development.
In addition to the one-time grant, they revealed plans to contribute $1 million annually for the next five years. This bringing the total commitment to a remarkable $7 million over the course of six years dedicated to enriching the lives of Jersey City residents through various nonprofit initiatives.
A Legacy of Transformation
Newport's impact reaches far beyond property development. It marks a transformation of a previously abandoned railroad yard along the Hudson River into a thriving 400-acre mixed-use community now home to about 20,000 residents, 50,000 workers, and millions of annual visitors. The development includes residential buildings, office towers, hotels, and extensive public parks that offer recreational facilities along a picturesque waterfront.
Richard LeFrak, the Chairman of LeFrak, emphasized the importance of creating lasting value for Jersey City. He stated,
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