Mid Atlantic Real Estate Journal — The Best of 2011 — March 16 - 29, 2012 — C
www.marejournal.com
The BEsT DEVELOPER of 2011 Woodmont Properties Woodmont Place at Palmer — $26 Million —
Prism Capital Partners The Parkway Lofts — $60 Million —
Toll Brothers Toll Brothers City Living — $56 Million —
The Parkway Lofts
Prism Capital Partners, LLC , has broken ground for Phase I at The Parkway Lofts, a high-profile, multi-family adaptive reuse in Bloomfield and East Orange. The mile- stone marks the launch of a signature redevelopment for the State of NJ. Located with high visibility on the Garden State Parkway, the master-planned project initially includes the conversion of a 114-year-old, 365,000-square-foot, six-story warehouse building into 361 loft-style apartments, and the creation of a three-level parking facility. At build out, the 14.5-acre site will be transformed into a distinctive, high-density residential village also featuring 150 for-sale townhomes, a clubhouse and other lifestyle amenities to be built as part of Phase II.
Woodmont Place at Palmer 100 Woodmont Circle Easton, Pennsylvania 16.25 Acres
1450 Washington in Hoboken, NJ
Toll Brothers , developers of the Hudson Tea Complex in Hoboken, continue to work their magic in what is often called the sixth borough. Their 1450Washington building is more than 50 percent sold even though the sales office has only been open since October and the building isn’t even complete yet. The building features more than 30 attractive floor plans, 24-hour concierge, gorgeous rooftop living space, fitness center and a children’s playroom complete with a real boat. With amenities like these, it’s no wonder that prices are rising, allowing the early buyers to see appreciated profit before even moving in - a dynamic not seen since 2006.
Woodmont Properties purchased the land and is devel- oping 216 apartment units in 9 buildings. The leasing office opened at the end ofApril 2011 to strong leasing activity and velocity has continued throughout the year with an average of 15 leases per month. Woodmont expects the project to reach stabilization by early summer 2012
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Heritage Village at Seabreeze, Lacey Twp., NJ
Heritage Village at Elizabeth, Elizabeth, NJ
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1970 Brunswick Avenue, Suite 100, Lawrenceville, NJ 08648 609.298.2229 www.ciSnj.com
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