321 Main Street
Developer Lands $62M Loan for Hackensack Multifamily Project
Developer, , has just obtained a $62 million loan for a 7-story, mixed-use project, going up at 321 Main Street in Hackensack, New Jersey. Issued jointly by Valley Bank and Fulton Bank, this influx of capital will be used to fund all remaining construction costs.
Originally prompted as part of the 2012 Hackensack Redevelopment Plan, the new building will contain market-rate apartment units, offered in studio, one and two-bedroom configurations.
Tenant amenities are to include a fitness center, multiple private terraces, a 3rd-floor courtyard, a roof deck, a multi-purpose club room, a bicycle storage area, and a dog park.
The development will also feature square feet of ground-floor retail space, as well as an enclosed, multi-level parking garage, with enough room for vehicles.
Designed by , 321 Main Street will stand feet tall and total square feet altogether.
is serving as the general contractor for the job, and concrete superstructure work is already well underway. The project is expected to fully complete by the end of 2024.