An artist's rendering of the completed development at 270 Irvington Ave.
SOUTH ORANGE — A $2.85 million loan has been obtained for a planned mixed-use development on Irvington Avenue in South Orange.
Kennedy Funding announced the loan for two parcels totaling 2.20 acres located at 270 Irvington Ave. and 299 Irvington Ave.
The two lots were purchased in an all-cash deal for $5.1 million in August 2025. When completed, the mixed-use complex will feature 61 residential units and several commercial spaces across three buildings. Construction is set to begin in 2027, according to a press release from Kennedy Funding.
The largest building at 270 Irvington Ave. will feature 41 residential units on top of 11,052 square feet of commercial space. A smaller building behind it will have eight apartments over 4,566 square feet of commercial space. Across the street at 299 Irvington Ave. is the future site of the third building, with 12 residential units over 7,137 square feet of commercial space. Plans call for 115 parking spaces, some aboveground and some underground, at 270 Irvington Ave.
“Housing needs in New Jersey are growing each year, and mixed-use developments like this one will deliver much-needed units to a heavily populated area of the state,” said Kevin Wolfer, CEO and President, Kennedy Funding. “Understanding these economic factors is key whenever we evaluate a deal.”
“At Kennedy Funding, we want to maximize opportunity for every borrower, which is not always easy when securing a land loan,” said Mark Falzone, executive loan officer at Kennedy Funding and the lead executive on the deal.
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