{"id":1004071183,"date":"2013-04-18T07:38:35","date_gmt":"2013-04-18T15:38:35","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004071183"},"modified":"2022-12-05T21:37:58","modified_gmt":"2022-12-06T05:37:58","slug":"hollister-breaks-ground-on-newarks-150m-m-f-teachers-village","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/hollister-breaks-ground-on-newarks-150m-m-f-teachers-village\/","title":{"rendered":"Hollister Breaks Ground on Newest Addition to Teachers Village in Newark"},"content":{"rendered":"<p><em>By Barbra Murray, Contributing Editor<\/em><\/p>\n<p><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/04\/Teachers-Village.jpg\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004071187\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/hollister-breaks-ground-on-newarks-150m-m-f-teachers-village\/teachers-village\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/04\/Teachers-Village.jpg\" data-orig-size=\"718,600\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;}\" data-image-title=\"Teachers Village\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/04\/Teachers-Village.jpg?w=718\" class=\"alignleft size-medium wp-image-1004071187\" title=\"Teachers Village\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/04\/Teachers-Village.jpg\" alt=\"\" width=\"300\" height=\"250\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/04\/Teachers-Village.jpg 718w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/04\/Teachers-Village.jpg?resize=300,251 300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><span style=\"font-size: 13px;line-height: 19px\">Teachers Village, an education-centric mixed-use project in Newark, N.J., graduates to a new level with the groundbreaking on another residential building that will grace the $150 million development. The aggregate 123 apartment units at the 420,000-square-foot destination in Newark&#8217;s historic Four Corners district are being marketed to teachers in the Newark school system.<\/span><\/p>\n<p>Hollister Construction Services is aboard the endeavor as construction manager and is now fast at work on the 40-unit multi-family building, which is the second of the three residential buildings that will ultimately sprout up at Teachers Village.<\/p>\n<p>But teachers will have more than a place to live; they&#8217;ll have a place to work. Teachers Village will feature three charter schools&#8211;Great Oaks, Discovery Charter School and Team Academy&#8211;occupying approximately 100,000 square feet of space serving roughly 800 students. Additionally, CHEN School daycare will welcome 150 students in 11,000 square feet.<span style=\"font-size: 13px;line-height: 19px\">\u00a0<\/span><\/p>\n<p>Instructors, students and visitors alike will benefit from 60,000 square feet.<span style=\"font-size: 13px;line-height: 19px\">\u00a0<\/span><\/p>\n<p>&#8220;We have been active building schools in Newark for several years and we see the positive change a new school immediately makes to the kids and the community, so to build a whole community\u00a0of schools, retail and beautiful apartments that we know can make a big, transformative and most importantly lasting change is deeply meaningful to our firm,&#8221; Chris Johnson, founder and CEO of Hollister, told <em>Commercial Property Executive<\/em>.<strong>\u00a0<\/strong><\/p>\n<p>Teachers Village is not being developed on a teacher&#8217;s salary and it will show. Celebrated architect Richard Meier is behind the design of the eight-building development. Goldman Sachs is an investor as is intentional investor Nicolas Berggruen. More than a few are eager to participate in this project, which is expected to play a role in the renaissance of the City of Newark.<span style=\"font-size: 13px;line-height: 19px\">\u00a0<\/span><\/p>\n<p>&#8220;If the teachers have a great place to live, teach and play, then the city can recruit better teachers to the area, providing a better education to the city\u2019s youth,&#8221; Johnson added. &#8220;It\u2019s a full cycle that is necessary to revive a city like Newark.&#8221; Construction of Teachers Village is on schedule to reach completion in 2014.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Teachers Village, an education-centric mixed-use project in Newark, N.J., graduates to a new level with the groundbreaking on another residential building that will grace the $150 million development. <\/p>\n","protected":false},"author":969,"featured_media":1004071187,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,21808,21783,11,21742],"tags":[],"class_list":["post-1004071183","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-featured","category-investment","category-midatlantic","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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