Construction of Paramount Assets’ William Flats in Newark passes halfway mark

Construction of the William Flats, a luxury multifamily rental property with ground-floor commercial space in Newark, has passed the halfway point, developer Paramount Assets announced Friday.

Paramount is celebrating with an open house on July 31 from 10 a.m. to noon. Brokers and city officials attending the event will be able to learn about leasing opportunities and tour the adaptive reuse project.

Leasing of the 37 units is scheduled for October, Paramount said.

The property is located at 869 Broad St. in Newark’s Four Corners district and has 12,000 square feet of retail space. 7-Eleven will occupy 2,700 square feet with an anticipated opening in 2019.