Steve Coon purchased the building in 2017 before it went into a foreclosure auction, the Newark Advocate reported. He said it was promoted as a location for offices mixed with market housing, but he had a bigger vision to keep the historic building in operation, WBNS reported.
The plan is to make the basket into 150 luxury hotel rooms, with renovations starting late next year. It will also include a restaurant and an indoor pool, the Newark Advocate reported.
There is no cost for the project yet but Coon and his partners hope to get state and federal tax breaks and grants to make the basket hotel a reality, WBNS reported.
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