Newark CRE Summit Preview with Barbara Kauffman, NRBP: Conversion of Newark Office Buildings, HQ2 Bid Sparking Newark’s Fire

NEWARK, NY -- Barbara E. Kauffman is Executive Vice President and COO of Newark Regional Business Partnership (NRBP), an organization that is connecting business for a Greater Newark. In anticipation of CapRE’s Newark CRE Summit July 19, we connected with Barbara to learn more about her perspective and latest activity in Newark. CapRE: Thanks for chatting with us, Barbara. Let’s dive right in. What is the most exciting activity in Newark? Kauffman: The trend for conversion of older office buildings to residential is one of the hottest topics of what’s happening in downtown Newark. What will be the telling factor will be the pace of leasing and how quickly those residences fill once they are complete.  A lot of product is coming online and if the Hahne and Company bldg. is any indication, there is pent up demand for people to live in downtown Newark. One of the advantageous parts of residential development in downtown is, as Mayor Baraka often comments, does not displace residents because there was not a residential population in downtown Newark. It means more activity, much more of a 24/7 presence, and the ability for retailers and restaurants to be successful. It breeds a whole series of positive things. CapRE: That’s a great point. What else are you excited about? Kauffman: Another thing is the announcement of M&M Mars coming to Ironside Newark. Also, the announcement that the Westinghouse property will finally be redeveloped and one…