Newark Public Forum On Housing Market: Thursday, March 1

NEWARK, NJ — Do you feel like you’re at risk of being “priced out” of the Newark housing market?

On Thursday, March 1, Homes For All Newark will host a public forum for all at-large Newark City Council candidates. The forum will take place from 6:30 to 8:30 p.m. at the Rutgers Law School, 123 Washington Street, room 90, in Newark.

The forum will focus on housing and development issues in advance of the May 2018 municipal elections, organizers said.

According to a statement from organizers, here’s why the forum is being hosted:

“The housing market in Newark is hot. Investors are developing new buildings and buying up existing buildings in all parts of the city. Rents are headed up too. Market rate rents for a downtown loft start at $2,000 a month. 78% of Newark residents are renters. Our median household income is $34,000 a year. There is a serious gulf between market rate rents and what Newarkers can afford. As a result, 88% of Newark residents live in areas at risk of displacement. There is no [single] answer to this disconnect. In the past year, the City Council has voted on several pieces of legislation that directly impact the housing market. It will continue to be a critical issue. Residents are already being priced out of the market. Even ‘affordable’ units are beyond the reach of many. How can the City Council address this crisis?”

Learn more about the event here. For more information about the forum contact drewcurtis5@gmail.com

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