The Retreat at Granville- 156 Units

The Retreat at Granville

The Retreat at Granville is a new 156 unit apartment community that has been entitled by RPP and is currently seeking equity investors. Set to start construction in Q1 of 2025, this community will be located in a newly formed tax abated area under the City of Newark CRA guidelines. This is a rare opportunity to build suburban apartments under the tax abatement program. Granville has seen rapid growth fueled by the millions of square feet of new industrial developments in the market including the new $20 Billion Intel Chip Manufacturing facility. This facility will be the largest in the world and can be further expanded. This has brought countless new jobs to the community and the city is well positioned for future growth. The design of the project will utilize the same design principles of the recently built Retreat at Canal apartments. Total project costs are estimated at $32,000,000