The purpose of this section is to determine the best residential development mix for future Corinthian developments. Residential development mix is defined two ways. First, residential development mix is the types of housing built by Corinthian, including amenities and design. Second, residential development mix is defined in terms of residents. A second component of this report is the identification of development opportunities in the West Side Park community.
Three forms of methodology were used for this report. First, 1990 Census data as well as the 1995 US Department of Housing and Urban Development Consolidated Plans for Newark and Essex County were used for demographic and housing stock data and needs analysis. A second methodology was the use of surveys. We conducted in-person interviews with Corinthian Homes residents and phone surveys with individuals on the waiting list for future Corinthian residential developments. Our third methodology was a geographic information system (GIS) study of ownership status of parcels and vacant lots in the West Side Park community.
There are many major findings which relate to the future planning of Corinthian residential developments. Despite high vacancy rates there is a large demand for affordable housing in the West Side Park community as well as Essex County overall. Essex County in general and Newark in particular are the sources of most of Corinthian’s current and future tenants. The most appealing trait of Corinthian Homes is its affordable rents. The biggest issue for current and future Corinthian Homes residents is security and the availability of play space for children. Over half of all vacant lots in the West Side Park neighborhood are owned by the City of Newark making for easier acquisition.
Based on these findings we have four primary recommendations. First, Corinthian should focus marketing efforts in Essex County, particularly in Newark. The demand exists for affordable housing; residents meeting Corinthian’s income requirements live in Newark and Essex County. Second, fifteen vacant lots are identified as key lots to acquire for future development because they are strategically located around West Side Park and are owned by the City of Newark. Third, Corinthian should continue to make affordability a major component of future developments because low-cost housing is its greatest asset. Fourth, Corinthian should address its two biggest barriers: safety and play space for children. We highly recommend future Corinthian residential development incorporate open space for children.
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