Viewing Newark as a ‘Blank Canvas’

Newark Mayor Cory Booker, Lloyd Blankfein of Goldman Sachs, Eric Schmidt of Google and Nicolas Berggruen of Berggruen Holdings, were on site in Newark, N.J., Thursday for the groundbreaking of Teachers Village, a mixed-use development that will include three charter schools, more than 200 moderately priced apartments for Newark teachers and various retail establishments. Richard Meier, an architect who was born in Newark, devised the plan. The RBH Group is the lead developer.

Mr. Meier is also working with Mr. Berggruen,…