About

The Newark Land Bank is a division of Invest Newark, a NJ nonprofit corporation. The Newark Land Bank was established by the State of New Jersey enabling legislation P.L. 2019, c 159, and City of Newark Municipal Ordinance 6PSF-gadopted on October 16, 2019. The Newark Land Bank strategically acquires, maintains, and repurposes vacant, abandoned, and foreclosed properties, and efficiently returns them to productive use. Specifically, the Newark Land Bank was created to boost homeownership, reduce blight, create affordable and market-rate housing, increase M/W/DBE developer or subcontractor capacity, expand neighborhood business opportunities, increase property values, support community goals and priorities of the City, and improve the quality of life for Newark residents. The Newark Land Bank utilizes a variety of sales programs to make homeownership and land purchases accessible to all Newark residents.

The primary source of property acquisitions for the Newark Land Bank is the City of Newark’s surplus properties and the tax lien auction which generally takes place December of each year. The Newark Land Bank may also assemble a strategic list of properties that support organizational and City goals and request these properties from the City of Newark subject to Municipal Council approval. The Newark Land Bank may also acquire properties through purchase, gifts, donations, and foreclosure. If you are interested in donating a property, please visit our website at nlbinfo@investnewark.org

Meet the Team

Gregory Good
Gregory Good
Chief Real Estate Development Officer & Director of Asset Management
(973) 273-1040
ggood@investnewark.org
Roger Johnson
Roger Johnson
SVP of Real Estate Development
(973) 273-1040
rjohnson@investnewark.org
Martha Baez
Martha Baez
SVP of Land Bank Operations
(973) 273-1040
mbaez@investnewark.org
Reesa Abraham
Reesa Abraham
Senior Project Manager
(973) 273-1040
rabraham@investnewark.org

FAQ

Quick and helpful responses to your most common questions about Property.

WHAT IS THE NEWARK LAND BANK AND WHY WAS IT CREATED?
The Newark Land Bank is a division of Invest Newark, a NJ nonprofit corporation. The Newark Land Bank was established by State of New Jersey enabling legislation P.L. 2019, c 159, and City of Newark Municipal Ordinance 6PSF-g adopted on October 16, 2019. The Newark Land Bank strategically acquires, maintains, and repurposes vacant, abandoned, and foreclosed properties, and efficiently returns them to productive use. Specifically, the Newark Land Bank (the “NLB”) was created to boost homeownership, reduce blight, create affordable and market rate housing, increase M/W/DBE developer or subcontractor capacity, expand neighborhood business opportunities, increase property values, support community goals and priorities of the City, and improve the quality of life for Newark residents.
IS THE NEWARK LAND BANK MANAGED BY THE CITY OF NEWARK?
Although the NLB was established by the City of Newark, it is not part of the City Administration. NLB is a division of Invest Newark, a NJ nonprofit corporation which is an independent nonprofit with its own bylaws and board of directors. By way of the Land Bank Agreement with the City of Newark, set forth by Ordinance 6PSF-a adopted on April 7, 2020, the NLB has been granted certain powers necessary to confront the problems caused by vacant, abandoned, and tax delinquent properties in Newark. The President and CEO of Invest Newark is responsible for supervision and management of the Land Bank and all NLB staff, and reports all Land Bank activity to the Board of Directors. While it is not government controlled, NLB works in partnership with the City of Newark to revitalize neighborhoods and strengthen neighborhoods within the municipality.
HOW IS THE NEWARK LAND BANK FUNDED?
The NLB is funded by a range of sources. These include contributions from the City of Newark, federal and state funding, revenue from the sale of properties, grants, donations, and loans. While the City of Newark is permitted to support the NLB, the City is not liable for the obligations of the NLB. As a division of Invest Newark, the NLB is a separate and distinct entity from the City of Newark municipal government.
HOW DOES THE NEWARK LAND BANK ACQUIRE PROPERTIES?
The primary source of property acquisitions for the Newark Land Bank is the City of Newark’s surplus properties, and the tax lien auction which generally takes place December of each year. NLB may also assemble a strategic list of properties that support organizational and City goals and request these properties from the City of Newark subject to Municipal Council approval. NLB may also acquire properties through purchase, gifts, donations, and foreclosure. If you are interested in donating a property, please visit our website at www.investnewark.org/land-bank/DONATE-PROPERTY.
WHAT PROPERTIES DOES THE NEWARK LAND BANK OWN?
All NLB properties are listed under “CURRENT PROPERTIES” on our website. NLB properties are only located within the City of Newark.
HOW DO I PURCHASE PROPERTY FROM THE NEWARK LAND BANK?
NLB sells properties via Programs and Request For Proposals (RFPs). Our inventory of available properties is always changing. You can stay up-to-date on newly available properties by signing up for our Mailing List at www.investnewark.org/land-bank/MAILING-LIST. All disposition decisions for our properties, including selection of winning bids, are published on the website.
WHO CAN PURCHASE NEWARK LAND BANK PROPERTY?
Any qualified individual, family, partnership, non-profit, or corporation can purchase and develop a land bank property per specific program requirements and disposition policies. Primarily, properties are sold via online bid applications and RFPs, though the NLB also engages in development planning and associated dispositions with thoroughly vetted homebuyers, real estate developers, and non-profit community partners to achieve City and neighborhood goals.
WHAT ARE THE QUALIFICATIONS FOR APPLYING?
NLB requires at a minimum that the purchaser provide basic personal or business information, a feasible development plan for the property of interest where rehabilitation is required, and proof of financing for the purchase or proposed development. In addition, all NLB applications require a processing fee for submission. Program applications and RFPs enumerate specific requirements, such as application fees, First Time Homebuyer restrictions, or income limits for the purchaser.
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