By Sarah Portlock/The Star Ledger
In the years since the real estate bubble collapsed, developers have looked long and hard at what projects they have in the pipeline. They study the market and in meetings ask, Could we see our plans through? Should we modify them? Start over?
One segment that is starting to see a revitalization, industry leaders said, are the high-end rental apartment buildings in urban downtown areas throughout the state near public transportation options and with extensive amenities. The projects are cropping up in popular towns along the Hudson River waterfront, but also now include areas like New Brunswick, Harrison, Morristown, Woodbridge and Lyndhurst.
In October, Roseland Property Company broke ground on RiverTrace, a $120-million, 316-unit luxury rental building in West New York that is part of the sprawling, waterfront Port Imperial development. Rents have not been determined yet, and the building is expected to open in fall 2013. READ MORE >>>
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