Construction Resumes on Newark’s Tallest Building, Developed by Morrison Cohen Client Acier

Construction on the 42-story Halo tower in downtown Newark has resumed after pausing for nearly a year due to a dispute between the project's developer, Morrison Cohen client Acier Holdings LLC, and the lender, Parkview Financial LLC.

Last month, Morrison Cohen’s Christopher Milito successfully opposed the construction lender’s motion to force a receiver over the Halo, a three-tower project that includes 1,075 apartments, for the purposes of completing the project itself. Prior to the motion, Morrison Cohen had commenced a lender liability action on Acier’s behalf based on the lender’s failure to fund the $90 million construction loan. The New Jersey Chancery Court denied the motion for a receiver, clearing the path for the project to continue.

Phase 1 of the Halo Tower is now on track for completion in the first quarter of 2026, a year later than originally anticipated.

Acier Holdings is represented by Morrison Cohen Chair & Co-Managing Partner Y. David Scharf, Partner Christopher Milito, Counsel Joseph Kamelhar and Associate Hallie McDonald.

The story was recently covered on NJ.com. Read more here.