Zion Towers

515 Elizabeth Avenue, Newark, NJ 07112

Property Type:

Affordable, Preservation

Number of Units:

268

Property Size:

270,000 SF

Architect(s):

Inglese Architecture + Engineering

L+M Development will continue preservation work at Zion Towers in Newark’s South Ward. Work will include modernizing 268 units, providing every apartment with upgrades including new kitchens and bathrooms. Common areas – including the lobby and community room – will also be updated and repairs will be made to the roof and facade to eliminate leaks. Additionally, work will be carried out to modernize the elevators, install new windows and completely overhaul the heating and air conditioning systems. Collaborative Support Programs of New Jersey will provide supportive services and outreach for 12 one-bedroom units that are targeted for mental health special needs residents.

When L+M acquired Zion Towers in 2017, the building needed immediate repairs. To date, improvements include repairing and replacing heat and hot water boilers, repairing showers to eliminate building-wide leaks and installing a new security camera system.


News

L+M Development Secures $20M in Financing for Newark Housing

The refinancing will allow for substantial renovations at the Zion Towers complex, which L+M acquired in 2017.

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More Than 265 Units to be Modernized at Zion Towers

L+M Development Partners and Prudential Financial have secured financing to preserve and renovate a government-subsidized housing complex in Newark’s South Ward.

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L+M Continues Significant Preservation Work at Zion Towers

The building’s 268 apartments will be modernized with new kitchens and bathrooms, as well as updates to the common areas, roof, building façade and elevators.

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L+M Acquires Newark’s Zion Towers

Rehabilitation plans are in progress for the residential high-rise containing 268 units and a four-story parking garage.

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