#United States #Newark #Invest Newark #Newark Land Bank #Three Brothers Construction

Newark Land Bank Breaks Ground on Historical Housing Project

On May 6, 2025, Newark Land Bank marked a significant milestone by breaking ground on its inaugural residential construction project at 113 Ridgewood Avenue. This endeavor, aimed at bolstering homeownership opportunities in Newark, is being developed by the local contractor Three Brothers Construction. The project features the construction of a three-story single-family home, complete with four bedrooms, three-and-a-half baths, and a private garage.

Founded under the leadership of Mayor Ras J. Baraka in 2019, Newark Land Bank was the first of its kind in New Jersey. Its mission is essential—acquiring and redeveloping vacant, abandoned, and tax-delinquent properties throughout Newark. This groundbreaking represents the beginning of a broader initiative aimed at constructing seven new single-family residences across the city by 2026, thereby improving homeownership opportunities for local families.

Mayor Baraka attended the ceremonial event and emphasized the importance of equitable development that enhances the quality of life for Newark’s residents. He stated, "This is a turning point for our city in its continual commitment to create affordable housing for our community. We recognize that our goals are ambitious, but we are determined to meet them—one space, one family, one contractor at a time." He also expressed excitement about the future homeowners who will receive keys to their new residences, highlighting the collaborative spirit of the project as a symbol of Newark’s strength and resilience.

The construction is being carried out by Three Brothers Construction, a family-run, minority-owned firm based in Newark. Marcus Randolph, the President and CEO of Invest Newark, which oversees the Newark Land Bank, articulated the significance of transforming a vacant lot into a desktop for a family. He noted, "This is a powerful example of turning vision into action. Thank you to Mayor Baraka for your unwavering support, which has allowed us to reach this monumental moment."

Gregory Good, the Chief Real Estate Development Officer at Invest Newark, stressed the importance of supporting local companies like Three Brothers Construction. He commented, "They embody the characteristics we want to nurture in our community—local knowledge and a dedication to improving the lives of Newark residents." Gilbert Gomez, the owner of Three Brothers Construction, shared his pride in contributing to the community. He remarked, "This project is a win for the entire community, and we believe in what we can achieve together and the positive impact we can have on Newark families."

The Newark Land Bank has ambitious plans not only for 113 Ridgewood Avenue but also for other locations across the city. Upcoming projects include properties located at 29-31 Winans Avenue, 296 S. 7th Street, 298 S. 7th Street, 63 Montgomery Avenue, 299 Chadwick Avenue, and 59 Millington Avenue. All seven forthcoming homes will be single-family residences focused on promoting homeownership in Newark.

As of now, the Newark Land Bank has successfully sold 76 properties throughout the city’s five wards, further reinforcing its commitment to combating urban blight and fostering sustainable community development.

As Newark continues on this path of revitalization and growth, residents can look forward to a future filled with greater homeownership opportunities and a strengthened local economy. To learn more about the Newark Land Bank and its initiatives, visit landbank.investnewark.org.

About Invest Newark

Invest Newark serves as the city's Economic Development Corporation, dedicated to fostering economic growth by supporting small businesses, improving internet access, and facilitating real estate development. By focusing on initiatives that promote equity and sustainability, Invest Newark aims to create jobs and enhance the overall living conditions for Newark's residents. Stay connected with Invest Newark's news through their official social media platforms or at InvestNewark.org.