Development company has closed on acquiring former Bears and Eagles Riverfront Stadium

Mayor Ras J. Baraka, Essex County Executive Joseph N. DiVincenzo, Jr. and real estate development company Lotus Equity Group, recently announced that Lotus has closed on its acquisition of the former Bears & Eagles Riverfront Stadium in Newark. Lotus purchased the site from the Essex County Improvement Authority, which owned and managed the stadium for the city of Newark and Essex County, and has selected the Practice for Architecture and Urbanism (PAU) – founded by noted planner and architect Vishaan Chakrabarti – to create a master plan that will transform the stadium and more than 7.5 acres of surrounding land into a vibrant mixed-use neighborhood.

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