35-Year Tax Abatement for 196-Unit Affordable Housing Project at 10 Park Place
Summary
The Berger Organization wants a 35-year tax break to turn Park Place properties into 196 fully affordable apartments, most restricted to tenants earning around half the area median income. The public hearing is June 17 — a chance to weigh in on trading tax revenue for deeply affordable housing downtown.
At a glance
- Total mentions
- 2
- Last 30 days
- 0
Last discussed Jun 17, 2026.
Impact analysis
The city forgoes property tax on these parcels for 35 years in exchange for 196 affordable apartments.
Low- and moderate-income renters who would occupy the 196 affordable units.
Critics of long abatements note the city gives up decades of full property tax revenue on downtown parcels.
Mentions & discussions (2)
Municipal Council — June 17, 2026
The Berger Organization gets a 35-year tax break to convert 10 Park Place into 196 apartments that are all income-restricted affordable, plus ground-floor retail. It's one of the largest fully affordable projects to clear the council, but the abatement means reduced tax revenue for three and a half decades.
Municipal Council — June 3, 2026
The Berger Organization wants a 35-year tax break to turn Park Place properties into 196 fully affordable apartments, most restricted to tenants earning around half the area median income. The public hearing is June 17 — a chance to weigh in on trading tax revenue for deeply affordable housing downtown.
Related development
Ten Park Place adaptive reuse
If finalized, 196 apartments — all income-restricted, many for tenants earning around half the area median — would add deeply affordable housing downtown.
10 Park Place Adaptive Reuse — 196-Unit Fully Affordable Rental Project
Adds 196 affordable apartments to downtown Newark, most restricted for households at or below 60% of area median income.
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