The execution of the District at 15fifteen Project in New Jersey by Stanbery Development Group in partnership with Claremont Development and PCCP has begun. The joint venture partners hosted a groundbreaking ceremony to mark the start of the master-planned District construction.
The project is taking place at 1515 Route 10 in Parsippany, within the heart of Morris County. According to Mayor James Barberio, the project will help transform the stagnant property into a vibrant location with unique possibilities. Especially since it brings not only housing but also new jobs, and commercial opportunities as well.
Development plans for the District at 15fifteen property
The District at 15fifteen property will have a total of 498 luxury rental homes spread across two buildings. It will include a mix of studio, one- and two-bedroom units. However, the developers will reserve 42 affordable units and 49 age-restricted units for those residents who are 55 and above.
All units will be designed with high-end interior finishes, shared amenities and common spaces tailored to the remote working lifestyle. Therefore residents will enjoy access to modern luxury amenities such as a fitness centre, yoga studio, pool and lounge area. In addition, the buildings will also include a conference centre, co-working spaces, and a dog spa.
Phase one of the District at 15fifteen project will focus on a four-story, wooden framed building with two exterior courtyards. While the second construction phase will develop a five-story, wooden framed building enclosing a parking deck with 853 spaces. The second building will also have one exterior courtyard. Additionally, 209 more surface parking spaces will be available on the property with the option of valet parking.
Stanbery’s Acquisitions and Leasing Partner, Marc Hays said Morris County’s residential and daytime worker population has grown over the years. Therefore, he said their joint venture group saw an opportunity to cater to that growing need. Hays said they chose to anchor that Route 10 corridor section with a mixed-use development and vibrant town centre.