Buildings Rise At Parsippany's 45-Acre Redevelopment Construction Site

PARSIPPANY, NJ — A potential move-in date for future residents of the highly anticipated redevelopment of the former Lanidex Plaza may be closer than expected.

The PARQ housing complex is taking shape in Parsippany, where construction is well underway.

PARQ is a distinctive, new multi-generational community that will include townhomes, multi-family residences, on-site retail and open green spaces. It is situated at the former Lanidex Plaza in Morris County.

The first project phase currently under construction at PARQ will include 275 multi-family homes, convenience stores, indoor and outdoor amenity spaces, and parking. In addition, the site will have a playground, an athletic field, a concession building and 75 courtyard townhomes with two-car garages.

Construction there started in June of last year, and a lot of progress has already been made, said PARQ Managing Director Haytham Haidar. "With four of the nine buildings razed in this initial phase, the 275 luxury apartments will be the first to welcome residents in April 2024."

The addition of the athletic field, concession stand, restrooms and playground will complete Phase One, which is anticipated to be finished in late 2025.

This project, according to Haidar, is ushering in a new era in Morris County.

"PARQ is forging us into the 21st century with state-of-the-art facilities, vast and welcoming green spaces for the community to enjoy, a recreational complex open to residents and sports programs to utilize, and enhanced revenue as a result of the site’s modernization."

Township officials previously stated that the new group of housing developments will assist Parsippany in reducing its number of vacant office buildings.

With the construction of this redevelopment project, the Township of Parsippany will be able to meet a portion of its state-mandated affordable housing obligations, with a total of 120 low-income residences in Phase One.

The project site was previously known as Olson's Farm in the late 1960s before being rezoned as an office park, Lanidex Plaza. It is located at the intersection of Routes 287 and 80.