By Linda Moss
CoStar News
The Ballantine, a new apartment complex on the site of a historic former brewery in Newark, New Jersey, has kicked off leasing, marking the transformation of an aged industrial area.
The luxury rental building at 80 Freeman St. was developed by Shorewood Real Estate Group in partnership with Bridge Investment Group. The property has 280 units, as well as 2,600 square feet of retail space.
The Ballantine is located on part of the former site of the iconic Ballantine Brewery in Newark’s Ironbound section. The brewery, founded in 1840, is part of Newark’s industrial history and is one of America’s oldest beer brands. P. Ballantine & Sons produced millions of barrels of beer annually, becoming an economic driver for the city and employing thousands until the brewery ceased operations in 1972. The entire 22-acre site was sold for $61 million in 2019 to be repositioned and redeveloped.
In 2022, Shorewood and Bridge announced they had started construction of the six-story Ballantine, whose cost then was estimated to be $88 million, on the brewery campus. In a statement Monday, Shorewood said it obtained the rights to use the Ballantine name, now owned by Pabst Blue Ribbon, for the building’s branding and incorporated tributes to the brewery’s history throughout the property.
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