A developer is planning two apartment buildings near the George Washington Bridge, hoping to attract residents seeking a short commute to Manhattan.
The Fort Lee Planning Board approved a pair of 14-story properties to be built on the borough’s main road, Jersey Digs reported. The lots flank The Pinnacle, a luxury apartment complex purchased two years ago by Blue Diamond Equities and Skywood Properties for $55 million.
Mill Creek Residential Trust Investments is developing the project under its “Modera by Mill Creek” banner. The buildings, which will have 425 units, are being designed by Hoboken-based MHS Architecture.
“Modera” Tower A is planned for 41-55 Main Street and 1640 Kaufer Lane. The building will have 253 residences as well as 300 parking spaces in a five-story garage. Units will range from studios to three-bedroom apartments, with 25 designated as affordable. An amenity space is planned for the 13th floor.
“Versa” Tower B, at 90-100 Main Street, will have nearly 100 fewer parking spaces. Its 172 units are largely two-bedrooms, and 21 will be affordable housing. Amenities will include a terrace, a courtyard with a pool, and an indoor lounge.
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Groundbreaking and construction timelines for both buildings have not been disclosed.
Mill Creek Residential is one of the country’s more active multifamily developers, building in seemingly every major market. Two months ago it landed an $82 million construction loan for the second phase of its mixed-use project in Coral Springs, Florida. The phase includes 353 apartments, 32,000 square feet of retail and restaurant space and 721 parking spaces.
The first phase features 351 apartments and 17,000 square feet of retail.
— Holden Walter-Warner