The Bears Stadium site comprises approximately 7.65 acres and preliminary concept plans call for the development of approximately 2.3 million square feet of residential, office, retail and cultural space. The new development will be less than 500 feet from the NJ Transit Broad Street station from which Midtown Manhattan can be reached in just 18 minutes. The project is extremely well-positioned to serve as a 24/7 live, work and play destination and accelerate Newark’s ongoing revitalization.
For the past 10 years, Mr. Korman has owned the largest office building in downtown Newark and has lived through the early stages of the city's transformation. Downtown Newark possesses a palpable energy embodied by passionate leadership across the city’s agencies as well as its corporate, cultural and educational institutions. Through it's acquisition of Bears stadium Lotus has committed itself to playing a vital role in the city's transformation.