WOOD-RIDGE, NJ-After nine years in the planning and approval process, the first buildings at Wesmont Station are nearing completion, resulting in 266 residential units and 30,000 square feet of retail space early next year, the leaders of master developer Somerset Development and project developer AvalonBay Communities tell GlobeSt.com in exclusive interviews.
Avalon at Wesmont Station will consist of four, four- and five-story buildings with a total of 406 one-, two- and three-bedroom apartments. The first two are under construction now, scheduled for completion early next year. Construction will begin on the next two buildings later in 2012, says Ralph Zucker, president of Lakewood, NJ-based Somerset Development, master developer of Wesmont Station.
“This is a complicated project, involving a train station, a brownfield rehabilitation and a significant amount of planning and offsite improvements,” Zucker says, necessitating a number of years for development.
Now under construction are a 50-unit building with ground-floor retail, and five-story, 216-unit building that wraps around a five-story parking garage. Leasing will begin on the rental units shortly for a planned February opening, says Ron Ladell, VP of development for Arlington, VA-based AvalonBay.
Retail leasing also is in the early stages, with brokers engaged, Ladell reports. “We’ll be looking for food establishments, from white tablecloth to fast casual, and convenience retail,” Ladell says.
Also well under way is a large open plaza, featuring a statue of Rosie the Riveter, a tribute to the site’s former use: Wesmont Station is the redevelopment of the former Curtiss-Wright defense production factory, producing aircraft engines and parts for bombers World War II bombers.
“Seventeen thousand Rosie the Riveters worked at that plant,” Zucker says. “When we proposed the project, we proposed the statue.”
The train station, which will make this project a transit-oriented development, has been approved, and should be complete in 2013. The multi-year planning process did necessitate some changes along the way. Originally, the homes now under construction were intended for sale.
“When the market collapsed we had to redesign the complex,” Zucker says. “We had to adjust to the new economy. Rentals are hot. That allowed us to be in the ground.”
AvalonBay also will be developing the next two buildings at Wesmont Station, also rental communities. “We think this will be very well-received,” Ladell agreed.
Also planned in later phases are townhomes to be done by Pulte Homes, and single-family homes. The train station approval process and the design are now complete, and going out to bid, Zucker says. “New Jersey is a tough state to develop in, and that’s with a willing municipality,” Zucker says. “That’s what allowed us to keep going.”
Zucker says the entire development, which also will include a fully equipped clubhouse, fitness center, barbeque grill area, outdoor pool, eight acres of playing fields and six acres of open space, will be complete in seven years.
“The final vision-the for-sale residential, followed by single-family homes-has all been approved,” Zucker says. “The municipal ballfields have been approved.
Ladell lauded the Borough of Wood-Ridge, from the mayor through the construction teams, for their role in the development. “Working with the Borough of Wood-Ridge has been an absolute pleasure,” he says. “This has been one of the most productive and efficient partnerships in the state.”
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