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$500M Wesmont Station's Phase One Passes Muster

WOOD-RIDGE, NJ-With the approval in hand, Somerset Development officials say construction will start soon on the first 400 apartments for the transit-oriented MXD.

By Eric Peterson | Updated on September 26, 2008

WOOD-RIDGE, NJ-Local officials of this Bergen County community have granted first-phase approvals and construction will start “soon” for Wesmont Station, a transit village-style mixed use on 70 acres. Somerset Development had picked up site plan approval in mid-2006 for the project, which carries an estimated price tag of $500 million.

“We are gratified to have received this show of support from Wood-Ridge and we’re looking forward to starting the construction process,” says Ralph Zucker, president of the Lakewood, NJ-based Somerset, which is the project’s designated master developer. The 70-acre site is part of a former Curtiss-Wright industrial complex.

The project’s initial phase will consist of more than 400 apartments in four buildings, being built by Alexandria, VA-based AvalonBay Communities Inc., which signed on as a partner in Wesmont Station in May. Of those apartments, 61 will be classified as “affordable housing” to satisfy the state’s Council on Affordable Housing requirements. Also part of phase one are 36 townhouses, 11 live/work units, 27 single-family homes and 25,000 sf of mixed commercial space. Completion of the phase is slated for 2010.

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