A Joint Venture (JV) group recently unveiled its plans for a Rail at Bound Brook multifamily project in New Jersey. The JV consisting of Denholtz Properties and Redwood Group is working on building a 143-unit apartment building in Bound Brook. Last month, the developers secured about $32.45 million in construction financing for the project.
According to the Denholtz CEO, Steven Denholtz, the project’s location provides highly favorable local demographics and untapped redevelopment opportunities. Especially since, the state recently completed flood mitigation efforts within the Borough region, in order to attract more real estate investment. Now Somerset county is highly rated and Niche recently ranked it as the Best County to Live in New Jersey.
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The location of Rail at Bound Brook will be at 100 Hamilton Street in downtown Bound Brook, Somerset County. Therefore the new apartment community will be in close proximity to Bound Brook Station, along with several dining and shopping centers. The developers expect construction to begin by the year’s end, with the project’s delivery date set for Q2 of 2024. Upon completion, the project will offer future residents the opportunity to live in one of New Jersey’s hottest up-and-coming communities.
The development plans for the Rail at Bound Brook project
The award-winning architect, Minno & Wasko created the design plans for the Rail at Bound Brook project. The new apartment building features a mix of studios, one-bedrooms plus dens, and two-bedrooms units. It will be a six-story building with a design suited for post-COVID-19 living.
Additionally, the building also provides amenities such as extra work-from-home spaces, outdoor balconies, and terraces in selected units. Other shared amenities the project will provide include indoor fitness and yoga studio, a game room, and bike storage space. What’s more, residents will also enjoy access to an expansive courtyard with outdoor grills and seating.
In addition to the residential units, the Rail at Bound Brook building will also accommodate a 65-square-foot ground-floor retail space. There will also be seven parking spaces available for electric vehicles on the ground floor.
The developers are also working on other buildings which are in close proximity to the Rail at Bound Brook building. Their plan includes renovating the two-story Morecraft Buildings, which separate the apartment from the entrance to the Brook Arts Center. Additionally, the developers will make improvements to the exterior of the three multifamily residences on the east side of Hamilton Street. There will also be 44 parking spaces provided in a lot behind the Theatre.
