PATERSON, NJ—Lakewood, NJ-based Greentree Development Group kicked off construction of a 156-unit luxury apartment complex in this economically challenged city last week. Paterson Mayor Jose "Joey" Torres Thursday called the Vistas at Great Falls development a significant step in the renewal of the Great Falls Historical District of Paterson.
"Major investments such as this one are important to Paterson's neighborhood revitalization plan," says Mayor Torres. "The construction of affordable and market-rate homes is ideal, not just because it's a significant part of our Great Falls Historical District, but because it spurs movement and a greater economic climate for the neighborhood and the city."
New homes, tot lots, basketball courts and other amenities will rise on a parcel that has stood vacant for eight years, says Greentree Development Group division president David Gunia. Gunia says his company is pleased to be part of Paterson's growth, adding that the company had searched for just the right place to get involved with the city's renovation.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Steve Lubetkin
Steve Lubetkin is the New Jersey and Philadelphia editor for GlobeSt.com. He is currently filling in covering Chicago and Midwest markets until a new permanent editor is named. He previously filled in covering Atlanta. Steve’s journalism background includes print and broadcast reporting for NJ news organizations. His audio and video work for GlobeSt.com has been honored by the Garden State Journalists Association, and he has also been recognized for video by the New Jersey Chapter of the Society of Professional Journalists. He has produced audio podcasts on CRE topics for the NAR Commercial Division and the CCIM Institute. Steve has also served (from August 2017 to March 2018) as national broadcast news correspondent for CEOReport.com, a news website focused on practical advice for senior executives in small- and medium-sized companies. Steve also reports on-camera and covers conferences for NJSpotlight.com, a public policy news coverage website focused on New Jersey government and industry; and for clients of StateBroadcastNews.com, a division of The Lubetkin Media Companies LLC. Steve has been the computer columnist for the Jewish Community Voice of Southern New Jersey, since 1996. Steve is co-author, with Toronto-based podcasting pioneer Donna Papacosta, of the book, The Business of Podcasting: How to Take Your Podcasting Passion from the Personal to the Professional. You can email Steve at [email protected].
