Newark Seeks Experienced Contractors, Developers, Non-profits for Major New Equitable Growth Housing Initiative

City of Newark

20 March, 2023

Newark, NJ – March 20, 2023 – The City of Newark has issued a Request for Qualifications (RFQ) to enable it to choose experienced contractors, developers, and non-profits to participate in a major new equitable growth housing initiative. The new initiative will help increase affordability and build wealth through creating or renovating multi-family buildings and homes that residents can own, expanding opportunities for Minority/Women-owned Business Enterprise (MWBE) developers and contractors, and providing jobs and job training for Newark residents.

The initiative, “Equitable Investments in Newark Communities” is a response to reports by the Rutgers Center on Law, Inequality and Metropolitan Equity (CLiME) and the NJ Institute for Social Justice that document the enormous wealth gap between white and black/brown families in New Jersey. The reports also show that homeownership, the major path for families to build wealth, is being eroded in Newark by the widespread purchase of residential properties by corporate buyers.

Continue reading this press release from the City of Newark in its entirety below:
Newark Seeks Experienced Contractors, Developers, Non-profits for Major New Equitable Growth Housing Initiative