(Read more on the multifamily market.)
CRANFORD, NJ-Westminster Communities' Cranford Crossing, a mixed-use transit village is set to officially open in June. Marketing began recently for its 50 luxury residential rental units, and the opening will also mark the start of operations of the project's 22,000-sf retail component.
"The response has been gratifying," says Sam Gershwin, president of the Florham Park-based Westminster, which is part of Kushner Cos. "It offers people the opportunity to live in town and walk to shops and restaurants," he says, adding that the project's retail portion is "more than half leased." Retail tenants include a Cosi restaurant and a Java's Brewin' coffee house.
The project, with a reported price tag of $16 million, is this town's first such mixed-use development in almost a century. Located next to the Cranford commuter train station, it's also adjacent to a new 310-space municipal parking garage built by Westminster as part of its deal with town officials. The garage was completed and opened in late 2006.
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