The site of an auto repair business in Newark’s Ironbound neighborhood has undergone an ownership change that could lead to major changes for the property.

Located across from Riverbank Park in the East Ward, the premises at 556 Market Street were sold in April for $712,000 to a firm that was registered out of a Bergenfield house.

A new owner, KS 556 Market Street, LLC, recently filed an application with the Newark Zoning Board of Adjustment (ZBA) that calls for turning the site of Lusitana Auto Body into an apartment building.

The company has plans to conduct a “reconstruction of the existing building” and expand the structure in order to create a six-story development, according to a public notice. The proposed redevelopment would consist of 28 “market-rate” units if ultimately built.

The ZBA is scheduled to hear the application on Thursday, November 7, at 7:00 p.m. KS 556 Market Street, LLC is seeking variances related to height, setback, and lot coverage.

Note to readers: The dates that applications are scheduled to be heard by the Newark Zoning Board of Adjustment and other commissions are subject to change.

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