$317M Financing Package Finalized for NJ Mixed-Use Project

Triangle Equities, alongside co-developer Incline Capital and investment partners Goldman Sachs and Basis Investment Group, have secured a complex $317 million financing package to launch Phase 1 of The Crossings at Brick Church Station, a major mixed-use, transit-oriented redevelopment in East Orange, N.J. Located at 533 Main Street, the two-phase project will ultimately deliver 820 mixed-income apartments, nearly 200,000 square feet of commercial and retail space, a pedestrian-friendly public promenade, and a 1,200-space parking structure. The retail component will be anchored by a ShopRite supermarket—85 percent pre-leased—and is expected to significantly upgrade food access for local residents.

Phase 1 is set for completion in late 2024 and reflects a vision to integrate fresh food options, community retail, and workforce housing with key transit access. As noted by Josh Weingarten, director of capital markets at Triangle Equities, the project aims to become a new economic and community hub in East Orange, supporting local job creation, delivering community-focused amenities, and contributing to long-term neighborhood revitalization. Partners emphasize that the offer, asCompletion is anticipated in Q4 2024.

The financing includes a blend of private capital, Low-Income Housing Tax Credits, and New Markets agreement Morris supports large-scale retail anchor infrastructure. Key funding includes contributions from PNC Bank, the NJ Housing & Finance Agency, the Reinvestment Fund, LIHTC equity, and NMTC allocations from eight community development enterprises—one of the largest in the program’s history. The structure demonstrates the scale of collaboration required to fund transformative, transit-driven reinvestment in historically disinvested communities across New Jersey.