The District at 1515
Update
05/25/23
Multi-Building Mixed-Use Project Breaks Ground in Parsippany
Joint developers, Stanbery Development Group, Claremont Development, and PCCP, have held a groundbreaking ceremony, marking the start of construction for a multi-structure, mixed-use development, at 1515 Route 10, in Parsippany, New Jersey. The event was attended by several organizations who were involved in getting the project off the ground, including New York Life, which issued a $146.6 million loan back in January that will be used to fund all construction costs from start to finish.
Set to be known as "The District at 15fifteen", the 3-building development will offer apartments, ranging in size from studios to two-bedroom configurations.
The development will primarily offer market-rate dwellings, although 42 units will be set aside for affordable housing. The buildings will also feature 49 age-restricted units for residents who are 55 and older.
Tenant amenities are to include state-of-the-art fitness centers and simulator rooms, a roof deck with a private pool, a lounge area, a dog spa, a roof deck, a party room, a conference center, and various co-working areas.
Plans also call for a large quantity of upscale retail and restaurant options (spanning square feet), as well as a multi-story parking garage, with enough room for vehicles.
Designed by , The District at 15fifteen will primarily consist of 4 story sections, with a few portions featuring 5 floors. The buildings will total about square feet altogether.
The development is replacing a 288,742-square-foot office complex on the 17-acre site, which has already been torn down ahead of construction.
The project will also require a partial remapping of traffic, due to the lot's close proximity to a highway exit ramp.
