O wners , D evelopers & M anagers
Real Estate Journal — Section B
www.marejournal.com
M id A tlantic
Developed by Fairfield, NJ-based Woodmont Properties BlueGate Partners announces the financing of Woodmont West
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and dryer, walk-in closets, 9-foot ceilings, and private balconies. Sitting on 55 park-like acres, Woodmont West is highly ame- nitized with a 15,000 SF club- house, strength and training gym, indoor golf simulator and putting green, resort-style swimming pool, outdoor sports courts, gas-fired grills, dog parks and a community garden. The strong leasing momen- tum experienced at Woodmont West can be attributed to its world-class facilities and fin- ishes, as well as to its highly convenient and easily accessi- ble location off of Route 80 and near NJ Transit’s Mt. Arlington park-and-ride station. n tinue that tradition and will be the most significant redevelop- ment project in our community for many years.” The Vermella Union site is unique partly because of its ad- jacency to Kean, one of the pre- mier universities in New Jersey. Since its establishment over 150 years ago, Kean has grown into a world class institution with over 16,000 students. Over the last ten years, Kean has completed several notable capital projects along the Morris Ave. corridor including the Science, Technol- ogy and Math (“STEM”) build- ing, the Green Lane and North Ave. Academic Buildings which provided over 300,000 s/f of class A academic space. Demolition work is currently underway at the site and ver- tical construction of the first phase of Vermella Union is expected to commence in the Spring of 2018, with initial oc- cupancy planned for late 2019. The project is steps away from the Union Train Station and is ideal for commuters looking for proximity to employment hubs while still enjoying the ben- efits of suburban life in a great community with easy access to local retail and entertainment uses. n
ount Arling- ton, NJ — Blue- Gate Partners an-
HI-LIGHTS N ov . 24 - D ec . 7, 2017 The units feature modern apartment finishes with stain- less steel appliances and quartz countertops, in-home washer nounced the financing of Wood- mont West inMount Arlington. Recently developed by Fair- field, New Jersey-based Wood- mont Properties , Woodmont West includes 300 market-rate rental apartments, made-up of one- and two-bedroom apart- ment homes in eight, three- and four-story buildings.
Woodmont West
Russo Development breaks ground on first phase of Vermella Union, a 42-acremixed-use
UNION TWP., NJ — Russo Development was recently joined by Union Twp. and Kean University officials for a groundbreaking ceremony at its newest mixed-use development, Vermella Union. The first phase of Vermella Union will consist of 462 rental apartments, 65,000 s/f of in- door/outdoor amenities, and 40,000 s/f of retail space which obtained site plan approval last month. At full build-out, Ver- mella Union will include over 1,264 luxury apartments and other uses in a campus-style, mixed-use setting. “Vermella Union is the result of more than three years of col- laboration with Union Town- ship on the planning and design of one of the largest mixed-use developments in northern New Jersey during the next decade,” said Edward Russo , chief ex- ecutive of Russo Development. “This property was one of the most significant pharmaceuti- cal facilities in the state before becoming vacant several years ago. Union Twp. had the vision to adopt a thoughtful Redevel- opment Plan that was needed to allow the transformation of this unique site into a first-class destination that will comple-
Construction Management & Design-Build
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Wolf & Bowser of High Associates broker 24 unit student housing complex
Shown from the left: Richard Berger, Esq. General Counsel, Russo Development; Manuel Figueiredo, Committeeman, Twp. of Union; Clifton People Jr., Committeeman, Twp. of Union; Joseph Florio, Deputy Mayor, Twp. of Union; Suzette Cavadas, Mayor, Twp. of Union; Edward Russo, CEO, Russo Development; Michele Delisfort, Committeewoman, Twp. of Union; Dr. Dawood Farahi, president, Kean University.
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ment Kean University and the surrounding community.” Russo purchased the 55-acre property, which is adjacent to Kean University and the Union Train Station, from Merck in June 2017. Russo recently sold 13 of the 55 acres to Kean University, which will use its portion of the site for additional parking and future development to support the University’s continued growth. “Union Twp. has been very
proactive towards creating meaningful redevelopment in our community” said Mayor Suzette Cavadas. “During the past five years, we have seen several notable redevelopment projects completed in our Town including the former Red Devil, Tuscan Dairy, and National Envelope sites which today are home to over 200,000 s/f of modern industrial space and several hundred new housing units. Vermella Union will con-
N.J. Board of Public Utilities announces Natural Gas Vehicle Grant Program
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