RBH Group’ (“RBH”), a national leader in real estate financing, development and management services, in 2008 acquired 77 different parcels of land along 11 blighted blocks in downtown Newark, NJ. Working with internationally renowned architects and planners, RBH created a master plan, and financed and redeveloped a $150 million, 400,000 square foot mixed-use community centered around educators. Through a unique public-private partnership model, RBH secured development assistance and financial backing from a wide variety of financial and lending institutions, individual investors, and city, state and federal governments.
Teachers Village features 6 new buildings consisting of:
3 charter schools and a daycare facility
203 residential units
65,000 SF of retail operated by local entrepreneurs
Units are priced to be affordable to educators and other life-long learners. Each 1-, 2- and 3-bedroom unit enjoys thoughtful layouts and abundant light and air, and many have views out to a central courtyard and linear plazas. Amenity rooms, fitness centers, laundry facilities and a continuing education component (the InQbator) are attractive components of the overall development. The project is sustainably designed, and received LEED Silver for Schools and LEED-Neighborhood Development certifications from the US Green Building Council.