That is how long the Hahne & Co. department store stood boarded up along
Broad Street in Newark—a blighted eyesore across from Military Park in
the heart of downtown, and a painful, everyday reminder of how far New
Jersey’s largest city had fallen since its glory days.
In its heyday, Hahne’s attracted middle-income and well-to-do residents
from Ne wark and throughout North Jersey who shopped its four floors of the
latest designer fashions, furniture, domestics, kitchen appliances, sterling
silver candelabras, fine jewelry and other accessories; whisked from floor to
floor in elevators staffed by white-gloved, uniform-wearing operators.
Earlier this year, the Hahne’s building was reborn. Rechristened Hahne
and Co., the landmarked building—redeveloped by L+M Development
Partners, Prudential Financial, The Goldman Sachs Group and Citi
Community Capital—now contains 160 apartments on the third and
fourth floors, plus a new nine-story adjacent residential tower, along with
an arts and cultural center operated by Rutgers University-Newark.
The first floor has been restored to retail and is catering to a new class of
carriage trade, with Whole Foods opening a 29,000 square-foot showplace on
Supermarkets rewrite the real estate
playbook by opening stores in revived
downtowns and regional malls.
BY RICHARD TURCSIK
THE BIG BOX