Construction Continues On River Road Apartments In Chatham

CHATHAM, NJ — Construction on the 245-unit luxury apartment complex in Chatham Borough will remain ongoing for the next several months, according to Jonathan Schwartz of Chatham River Road Partners, the project's designated developer.

Schwartz spoke before the council on Monday, March 13, providing all residents with an update on the housing project that has recently sparked debate among community members.

The site plan, now dubbed "The Ivy of Chatham," was initially approved by the borough in 2021 and has been marketed as a luxury apartment complex with a mixture of 37 affordable housing units.

The building, which will have 245 rental units, will have a three-story base at the intersection of Watchung Avenue and River Road, four stories along that stretch of river, and finally five stories in the back of the structure.

Schwartz, who represents the family-owned BNE Real Estate Group, which owns 10,000 rental apartments in New Jersey, stated that covered parking spaces would be located beneath the structure.

Construction on the complex has already begun, with the entire structure fully framed and the roof recently completed. "We're hoping to be completed by the end of the year, November, if all goes in our favor," Schwartz said.

Although the prices for the units have not been finalized, Schwartz estimates that they will be around $2,000 per month for 1-bedroom units and closer to $4,000 for larger units.

The "Class A" building will also have a pool, a media center, a game room, a golf simulator, and a fitness center, according to Schwartz.

There will also be a doorman on duty who will provide 24-hour concierge service. Schwartz stated that the widening of the intersection at Watchung and River Road, an extended left-turn lane, and the free shuttle bus service to and from the train station would all help to reduce traffic.

Some council members brought up the current look of the project site, noting that all the fencing makes the project appear much larger than anticipated.

"It will take us probably another two months to finish the outside of the building, once we finish that outside, we can pull the fencing down and pull some of the scaffolding down. As it starts to get nice out, we will start to landscape the front of the building and put the sidewalks in," Schwartz said. "We think that we will be substantially complete, probably by October, with indoor work still happening until about the end of the year."

The project is being funded through a Payment in Lieu of Taxes (PILOT) deal adopted via ordinance by the Borough of Chatham Council. Chatham Borough Council member Jocelyn Mathiasen previously stated that the financial agreement will generate $49 million in revenue.

One of the main concerns when the project was first approved was its impact on the local school district. Chatham Board of Education President Jill Critchley Weber previously stated that the school district hoped to discuss sharing the PILOT revenue from the River Road development with members of the borough council.

Some members of the community have since spoken out, claiming that those potential conversations are not in the best interests of borough residents.

"I was surprised to hear that the borough council is considering gifting some portion of the borough's River Road PILOT money to the School District of the Chathams. I wonder why the council, with its own modest budget of $16 million and pressing needs, would even consider making such a gift to the school district... without consulting the residents. As a parent, I'm also concerned that such a gift could compromise the traditional independence of our schools from partisan politics," Jennifer Weiss said.

Neither the borough nor the school district have issued an official statement or provided an update on the potential negotiations between the two entities.