Greenbaum Represents New Jersey Institute of Technology in Development of Newark Student Residence Hall with Unique Public-Private Partnership Financing Structure


ROSELAND, N.J., June 24, 2021 /PRNewswire/ — Greenbaum, Rowe, Smith & Davis LLP represented the New Jersey Institute of Technology (NJIT) in connection with the development and financing of a 548-bed state-of-the-art residence hall on the university’s campus in Newark.  The Warren Street Residence Hall, located at 211-214 Warren Street in the University Heights neighborhood, is a project critical to the continued expansion of NJIT’s Newark footprint, as well as the revitalization of that area of the city.

The $90 million+ project was financed through a complex and unique public-private partnership structure established with NJIT development partner RISE Highlanders, the University’s collegiate housing partner Collegiate Housing Foundation (CHF), and its public partner, the Essex County Improvement Authority. The Greenbaum team, led by partners Steven G. Mlenak and Thomas J. Denitzio, Jr., represented NJIT throughout the process.

NJIT ground leased…

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