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Here is a summarized update of projects going on in Northern NJ. I'll keep track of these and post on any new projects or updates.
Hackensack:
- Downtown is seeing a surge in mixed-use and multifamily developments.
- A 210-unit project on Green Street is moving forward at the former city recycling center.
- The final phase of the Print House on River Street will continue, including a 20,000 sq. ft. Lidl supermarket opening next year.
- Projects include a 110-unit building at 359 Main St. and affordable housing on Essex St. and Railroad Place.
Pompton Lakes:
- A $20M affordable housing project for seniors and veterans is planned at 519 Ringwood Ave.
- It will offer 65 one-bedroom units, prioritizing local residents and military members.
- Christian Health Center will manage the facility once completed.
Wayne:
- A new 473-unit AvalonBay housing project will finish this summer at the former Valley National Bank headquarters.
- Includes 71 low-income units as part of a developer-township settlement.
Paramus:
- Garden State Plaza will break ground on its first redevelopment phase in early 2025.
- Plans include 575 housing units, 50,000 sq. ft. of retail, and a 1-acre town green.
- Future phases could add 1,400 apartments to the property.
Warehousing Boom:
- A 585,000 sq. ft. distribution center is under construction along Route 80 in Mount Olive.
- Parsippany approved three warehouse projects, despite local objections.
- Plans include warehouses at Fair Lawn’s old Nabisco site and a controversial proposal in Sparta.
Source: northjersey.com click here for article
If you have any questions about the market in your area, feel free to reply to this email or call me.
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