Metropolitan Lofts Goes Vertical in Morristown, N.J.
Woodmont Properties and Roseland Residential Trust Enter the Final Phase of Redevelopment of Former Epstein Department Store Site
MORRISTOWN, N.J. (Dec. 13, 2016) – Woodmont Properties and Roseland Residential Trust, leaders in development of luxury apartment communities, today announced that it has commenced the construction of Metropolitan Lofts, a 59-unit, luxury rental apartment building, which is the final component of a mixed-use redevelopment project that combines luxury living with 53,000 square feet of first-class retail at the Shops on the Green and a 795-car public parking facility.
Located at 11 Dehart Street, Metropolitan Lofts will feature a mix of one- and two-bedroom apartments and the creation of 1,100 square feet of retail space on the ground level.
“As the steel begins to rise, we are eager to complete the final piece of the highly-anticipated redevelopment of the former Epstein Department Store site,” said Stephen Santola, executive vice president of Woodmont Properties. “Combined with 40 Park, The Metropolitan and the Shops on the Green, Metropolitan Lofts further solidifies Morristown’s position as one of New Jersey’s premier live-work-play destinations.”
“This project is transforming Morristown and is part of our commitment to transit-based development that allows residents easy access to retail, restaurants, and nightlife and impressive on-site amenities,” said Andrew Marshall, President and Chief Operating Officer of Roseland Residential Trust. “Our partnership with Woodmont and the town has been tremendously successful and we look forward to completing the final phase.”
With brick and zinc details, Metropolitan Lofts’ façade will emulate the cast iron loft buildings found in New York City’s SoHo neighborhood. The building’s residences will be highlighted by sleek kitchens, featuring quartz countertops and stainless steel appliances, and luxurious master baths.
Residents will have access to a vast array of amenities including a state-of-the-art fitness center with fitness on demand and a golf simulator. In addition to the amenities available at Metropolitan Lofts, residents will have access to the rooftop terrace, clubhouse and game room of the neighboring luxury apartment property, The Metropolitan.
Conveniently located in the heart of Morristown, near the historic Morristown Green, Metropolitan Lofts and The Metropolitan are only a short walk away from a variety of surrounding shops, restaurants and offices, and only a few blocks away from the NJ Transit Morristown train station. The communities’ locations also allow for access to major roadways such as interstates 287, 80 and 78.
About Woodmont Properties
For 54 years, Woodmont Properties, based in Fairfield, N.J., has contributed to the region’s residential and commercial marketplace by developing residential communities, office buildings, retail centers and industrial properties in suburban communities, town centers and cities in New Jersey, New York and Pennsylvania. Woodmont Properties' success in developing both residential communities and commercial properties is derived from a unique blend of innovation, integrity, the selection of superior locations, and quality design.
About Roseland Residential Trust
Roseland Residential Trust (Roseland), a subsidiary of Mack-Cali Realty Corporation (NYSE: CLI) was recently formed to own, manage, and develop Mack-Cali's luxury multi-family residential portfolio. Roseland is a premier, full-service residential and mixed-use owner and developer in the Northeast with an industry leading reputation for successful completion, execution, and management of class A residential developments. Roseland’s scalable and integrated business platform oversees the Company’s operating and in-construction assets, geographically desirable land portfolio, sourcing of new development and acquisition opportunities, and repurposing activities on Mack-Cali’s office holdings.
The Company is a recognized leader in multi-family innovation, carefully integrating each development with its surrounding cultural context to enhance the beauty, economic vitality, and energy of its environment. From thoughtfully designed residences to distinctive amenity offerings, Roseland has earned a reputation for providing residents with the most visionary communities that empower them to re-imagine the way they live.
The Company is the master developer for several nationally recognized mixed-use destinations, including Port Imperial, a $3 billion, 200-acre, mixed-use community on the Hudson River Waterfront facing Midtown Manhattan; Portside at East Pier in East Boston, where Roseland is redeveloping one-half mile of Boston Harbor into a premier luxury mixed-use community; and Overlook Ridge, a 92-acre masterplanned community north of Boston.
Additional information on Roseland is available on the Company's website at www.roselandres.com.