The Ballantine, a new apartment complex on the site of a historic former brewery in Newark, New Jersey, has kicked off leasing, marking the transformation of an aged industrial area.
The luxury rental building at 80 Freeman St. was developed by Shorewood Real Estate Group in partnership with Bridge Investment Group. The property has 280 units, as well as 2,600 square feet of retail space.
The Ballantine is located on part of the former site of the iconic Ballantine Brewery in Newark’s Ironbound section. The brewery, founded in 1840, is part of Newark’s industrial history and is one of America’s oldest beer brands. P. Ballantine & Sons produced millions of barrels of beer annually, becoming an economic driver for the city and employing thousands until the brewery ceased operations in 1972. The entire 22-acre site was sold for $61 million in 2019 to be repositioned and redeveloped.
In 2022, Shorewood and Bridge announced they had started construction of the six-story Ballantine, whose cost then was estimated to be $88 million, on the brewery campus. In a statement Monday, Shorewood said it obtained the rights to use the Ballantine name, now owned by Pabst Blue Ribbon, for the building's branding and incorporated tributes to the brewery’s history throughout the property.
"Curated artwork and design elements in the amenity spaces reflect the site’s industrial heritage while embracing modern aesthetics," according to Shorewood.
Initial occupancy is scheduled for April.
“The Ballantine marks an important chapter in Newark’s growth, thoughtfully integrating the site’s historic significance with a modern vision for the Ironbound’s northern edge,” Shorewood CEO Larry Davis said in a statement. "As our inaugural project in Newark, we saw an opportunity to revitalize a once-prominent, but underutilized property into an extension of the neighborhood, providing residents with a contemporary living experience rooted in local character."
The Ironbound area is a culinary destination that draws visitors to its Portuguese, Brazilian and Spanish restaurants and bakeries, many of them located on or around Ferry Street. The neighborhood also offers parks and boutique shops. The Ironbound area has easy access to Newark Penn Station, major highways and Newark Liberty International Airport.
The Ballantine, designed by Minno & Wasko Architects, has nine-foot ceilings, luxury plank flooring and smart lock systems. Select units also have private patios or terraces.