(Read more on the multifamily market.)
RAHWAY, NJ-Diversified Communities was picked by local officials in March as designated developer of a new mixed-use town center, and now Diversified has a well-known name as a partner in the project. Diversified, a private Parsippany, NJ-based largely residential developer, has signed a deal with DeBartolo Development LLC to create Rahway Town Center.
“They are venerated for their open-air retail developments, which includes some of the country's largest malls,” says Darryl Gay, Diversified's sales and marketing director, of the Tampa, FL-based DeBartolo Development, which is a successor to the Youngstown, OH-based DeBartolo Corp. “Their experience in commercial real estate, combined with our expertise in residential development, will bring a dramatic change to this city's landscape.”
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