Madison, N.J.—The KRE Group and Mark Built Homes have broken ground on mixed-use development that will bring retail providers, community space, and 135 new residences to a site on Green Village Road in Madison, N.J. The location counts as TOD, since it’s two blocks from the Madison train station.
The property is on the site of the former Green Village Road School. The project will have two names: Rose Hall, which will include 100 rental residences, and Madison Place, which will include 35 condos.
Rose Hall will include ground floor retail/restaurant space and a 3,000-square-foot community center. The anticipated completion date is the second quarter of 2017, according to the developers.
KRE and Mark Built Homes jointly acquired the five-acre property in January from the Madison Board of Education, which in turn earmarked the proceeds for reinvestment in other school projects. The development plan, in addition to the residential, retail and community spaces, includes landscaped outdoor gathering spaces.
The overall design, noted the developers, facilitates a pedestrian-friendly lifestyle that allows residents to walk to shops and restaurants in downtown Madison. Madison is in eastern Morris County, about 27 miles from Manhattan.