Kushner Breaks Ground on Luxury New Jersey Project
The development is the company’s first in the East Hanover market.
Image courtesy of Jean-Paul Jandrain via pixabay
Kushner Real Estate Group has broken ground on Valley View Park, a 239-unit luxury community in East Hanover, N.J., according to NJBIZ. The project will feature five four-story buildings.
One- and two-bedroom apartments are set to be developed, with 34 to be set aside for low- and moderate-income residents.
Community amenities will include a clubhouse with a party room, community great room, fitness center, yoga studio and kids’ room. A swimming pool, grilling area, dining area, bar, game lawn, garden, dog park, playground, loggia, walking trail and relaxation area will be completed on the property’s grounds.
Residents of Valley View Park will be in close proximity to major employers, including Novartis and Nabisco, as well as near various industrial, retail and office properties. Retail and dining options are located nearby in the city’s downtown. The community is 25 miles from New York City.
Situated off of Deforest Ave. in Morris County, Valley View Park is KRE Group’s first project in the East Hanover market. It is part of the company’s “Garden Collection”, which includes various multifamily communities across the tri-state area, including the Journal Squared skyscrapers in Jersey City and the Rock Pointe project in Rockaway Township, N.J.
The anticipated completion date for the project could not immediately be learned. Representatives of KRE Group did not respond to inquiries.
Northern New Jersey, while not a top 30 metropolitan area, is performing very well in the multifamily market. A recent Yardi Matrix report shows area rents increased 7.9 percent year-over-year, as of January.
