New Community Corporation

Started in 1968 as a way to provide affordable housing, today New Community Corporation (NCC) employs 600 local residents, manages 2,000 housing units, and owns roughly $500 million of assets. In 1990, NCC attracted Pathmark, the first grocery store to open in Newark’s Central Ward since the 1968 riots, to engage in a joint venture of co-ownership. Pathmark’s sales per square foot reached almost double those of the chain’s average. NCC has since sold its stake in Pathmark, but continues to produce revenue through its Extended Care Facility, a full-service nursing home that currently maintains a 180-bed capacity and serves as an economic anchor for a variety of jobs and services. Surpluses from the facility are invested in other NCC operations such as day care and medical support for seniors.  NCC also runs several social enterprises as well as a federally-insured credit union.

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