Invest Newark

About the project

Invest Newark's goals include supporting small, women and minority-owned business, investing in world-class internet service, spurring real estate development and executing economic development activities to produce and sustain economic growth, generate jobs and create wealth for the citizens of Newark.

Invest Newark focuses on the whole City of Newark with particular emphasis on those neighborhoods that have a large inventory of vacant properties.

LISC provided a $1.90 million construction line of credit to support the rehabilitation of 25 properties in the city of Newark. Once construction is complete, homes will be sold to families in Newark Housing Authority's Section 8 voucher program. Neighborhood Assistance Corporation of American and the Urban League of Essex County will provide pre- and post-closing counseling to proposed buyers. This project will offer qualified local minority- and women-owned development firms the chance to build their portfolios, support Newark's economic development by reducing vacant and abandoned properties, and create opportunities for homeownership and wealth building for the city's BIPOC and low-income residents.