M id A tlantic Real Estate Journal — Owners, Developers & Managers — Industry Leaders — December 23, 2016 - January 12, 2017 — 19B I ndustry L eaders
www.marejournal.com
HIPPANY, NJ — With shovels in the ground at four new Multiple municipalities tap JMF to redevelop prime sites in commuter locations JMF Properties emerges from 2016 as a leader in New Jersey transit-oriented development W
downtown Emerson’s central business district in an area that hasn’t seen any new de- velopment in years. A total of 147 residences and 20,000 s/f of street level retail is planned for the Bergen County site on Kinderkamack Rd., which is adjacent to the Emerson train station. In the Somerset County town of Raritan, at the nexus of Routes 202, 206, 22, 287 and 78, JMF plans to build 284 luxury apartments just a short walk away from the Raritan train station. In Hudson County, the Bay-
onne City Council designated JMF Properties the redeveloper of a 40-acre portion of Harbor Station at the Military Ocean Terminal -- less than ¼ mile from the newly-constructed 14A New Jersey Turnpike exit. And on the retail front, JMF recently announced it has successfully secured a 50,000 s/f Whole Foods store to an- chor its Township-approved 150,000 s/f WaterviewMarket- place lifestyle center on Rte. 46 in Parsippany. Waterview Marketplace enjoys easy and immediate access to I-80, I-287 and Routes 206 and 46. n
properties near NJ TRANSIT rail stations, the imminent lease-up of a 100-unit rental community located steps from the Denville train station, and pre-development work begin- ning on multiple large-scale development projects, 2016 was a banner year for JMF Properties . The Whippany-based devel- oper and management firm has emerged as one of New Jersey’s most sought-after transit-oriented developers. The company has already broken ground on several new mixed-use developments, and will soon announce the full lease-up of its Estling Village rental community in Denville. “The adoption of transit-ori- ented development continues to spread throughout the state as government and municipal stakeholders recognize the lasting positive impact this type of development has on their towns,” said Joseph Forgione , president and CEO of JMF Properties. “Market demand for locations with walkable access to downtown shopping, restaurants, conve- niences and mass transporta- tion is also on the rise. The two forces are creating meaningful opportunities to urbanize ap- propriate suburban locations with mixed-use development that creates a convenient, vibrant, connected lifestyle.” In the Sleepy Hollow section of Plainfield, JMF has begun construction on 212 rental residences names Quin Sleepy Hollow on a site between the historic Netherwood train station and Fanwood train station. Leasing is expected to launch in the fall of 2017. Construction is also well un- derway on JMF’s Clarus Maple- wood, a collection of 20 modern rental residences situated on top of 10,000 s/f of ground floor retail space just steps from the train station in downtown Maplewood. Clarus Maplewood is being developed to achieve WELL Multifamily Residential Certification – Pilot Program. In Berkeley Heights, JMF will break ground this winter on a 150-unit rental commu- nity at the train station and within walking distance of the celebrated downtown’s shops and restaurants. JMF will soon break ground on a major redevelopment of
Clarus Maplewood rendering
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