Newark Planning Board Approves Skyscrapers In Ironbound Neighborhood

NEWARK, NJ — The Newark Central Planning Board has cleared the way for a controversial redevelopment project in the Ironbound section of the city: the $800 million “Iberia II” skyscrapers.

Plans for the site include four skyscrapers rising between 26 and 30 stories on a 2.5-acre lot between Market and Ferry streets. The complex will include a total of 1,408 apartments, in addition to 18,000 square feet of ground-floor retail space and 620 parking spaces.

As per the city’s inclusionary zoning ordinance, 283 of the apartments – or at least 20 percent – must be reserved for people making below the area’s median income and be priced at below-market rates.

The planning board approved plans for the towers at their meeting on Monday, with people speaking for and against it. Critics have claimed the high-rise development will gentrify the neighborhood and have a negative impact on the environment. Supporters argued that the project will boost the city’s affordable housing stock and create construction jobs, TAPinto Newark reported.

It’s the second time that the planning board has taken a key vote on the Iberia II towers.

The board unanimously voted to approve the $800 million “Iberia II” project last March. The complex was set to be one of the largest real estate developments that the Ironbound has seen for decades – until a lawsuit was filed to halt the project in June 2025.

Homes For All Newark, a grassroots organization of Brick City residents, argued that the towers would pose a threat to the health and safety of the nearby community. Other concerns include flood risks, traffic and potential “displacement” of local residents.

Advocates also claimed that the approval process took place “behind closed doors” with a lack of transparency. The lawsuit named the Newark Central Planning Board as defendant along with Iberia II Realty Urban Renewal LLC, the entity behind the project.

Homes For All Newark said that residents have proposed more “community-centered alternatives” for the project, such as a 12-story maximum height, “at least 50 percent affordability” with more family-sized units, and a binding agreement to guarantee environmental safeguards, affordability and local hiring.

• READ MORE: Newark Residents Keep Pushing Against 'Iberia' Skyscrapers

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