NEWARK — A long-vacant 1920s high-rise in Newark with a marbled lobby and sweeping views of the city will be converted into apartment-style housing for 350 Rutgers University graduate students.

The university’s board of governors yesterday approved a $71 million renovation to turn the building at 15 Washington St. into a mixed-use complex with furnished studio apartments and one- to four-bedroom units. The 17-story building, located on the northern end of campus, previously housed the law school.

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