On January 15, city officials joined the development team of Shorewood Real Estate Group and Bridge Investment Group to commemorate the completion of The Ballantine, a six-story residential building located at 80 Freeman Street in Newark’s Ironbound neighborhood. The $88 million project reimagines the historic site of the former Ballantine Brewery, a once-thriving establishment founded in 1840 that closed its doors in 1972.

The Ballantine spans a total of 310,522 square feet and offers 280 residential units, including 34 affordable apartments and 246 market-rate units. The building also features 125 parking spaces and 2,600 square feet of ground-floor retail space designed to enhance the area’s vibrant community.

A Revitalization Effort Under Opportunity Zone Program

‍The project was developed under Newark’s Qualified Opportunity Zone program, a federal initiative aimed at stimulating long-term economic growth by encouraging investment in underserved urban areas. The redevelopment of The Ballantine site exemplifies the program’s mission to transform underutilized spaces into thriving community assets.

“This project reflects our commitment to preserving Newark’s history while embracing its future,” said a representative of Shorewood Real Estate Group. “The Ballantine pays homage to the site’s legacy while providing much-needed housing and community-focused amenities.”

Transit-Friendly Living in the Heart of Newark

‍Located in the Ironbound district, The Ballantine offers residents easy access to Newark Penn Station, one of the region’s primary transit hubs. The station provides service via Amtrak, NJ Transit Rail, PATH, and the Newark Light Rail, ensuring convenient connectivity to New York City and other major destinations.

Design and Amenities

‍The building combines modern architectural design with thoughtful amenities to enhance residents' lifestyles. Inside, apartments are outfitted with contemporary finishes and layouts designed for comfort and convenience. Outdoor spaces, common areas, and retail options on the ground floor aim to create a vibrant community environment for both residents and visitors.

Historic Preservation and Modern Vision

‍The Ballantine Brewery was once a significant part of Newark’s industrial identity. “Transforming this iconic brewery site into a mixed-use residential development is more than just construction; it’s a nod to Newark’s rich history while creating opportunities for its future,” said one of the project’s development leaders.

Economic Impact and Community Growth

‍The redevelopment is expected to contribute to the Ironbound neighborhood’s ongoing growth by attracting residents and businesses to the area. Beyond housing, the retail spaces in the building will offer new opportunities for local entrepreneurs and businesses, enhancing the district’s appeal as a live-work-play destination.

The completion of The Ballantine marks an exciting chapter for Newark, showcasing how historic preservation can align with urban revitalization efforts to create a better future for the community.