498-Unit Housing And Retail Project Breaks Ground In Parsippany

PARSIPPANY, NJ — After numerous discussions between developers and township officials about the District at 15fifteen project, shovels have been placed in the ground at a new mixed-use development.

The District at 15fifteen, located at 1515 Route 10 in Parsippany, will include approximately 60,000 square feet of retailers, restaurants, boutique fitness and specialty services, and a 498-unit luxury apartment community.

The three-building complex will be a one-of-a-kind destination for year-round programming such as farmer's markets, music in the park, food trucks and family movie nights, officials said.

The project will replace two unused office buildings just west of Route 287.

"By bringing new job, commercial, and housing opportunities to Parsippany, this exciting project takes a stagnant property and creates unique and vibrant possibilities that are part of the fabric, making Parsippany one of the best places to live, work, and play in New Jersey," Mayor James Barberio said.

Negotiations to close the deal included an agreement to include 42 affordable housing units as well as 49 age-restricted units for residents 55 and older.

The apartments are all described as "luxury rental homes with a mix of studio, one- and two-bedroom units." The project's first phase will include a four-story building with two exterior courtyards.

Phase two will be a five-story building wrapping an 853-space parking deck with one exterior courtyard.

The retail and restaurant portions are expected to be completed in the fall of 2025, with the first move-ins scheduled for the fall of 2024.

An additional 209 surface parking spaces with the option of valet parking will also be available.

The project is a collaboration between Stanbery Development Group, Claremont Development, and commercial real estate investors PCCP.

"Over the last several years, we have seen Parsippany, and specifically the stretch of Route 10 between Interstate 287 and Route 202, experience an immense transformation with an influx of national retail, restaurant, and hotel options aimed at serving both residents and the large daytime worker population in Morris County," said Marc Hays, Partner, Acquisitions and Leasing at Stanbery Development Group.

The District at 15fifteen's "pedestrian first" town center design will include vehicle access as well as pedestrian crosswalks, creating a livable and walkable design for locals, visitors and the tens of thousands of workers in the area.

"As young working professionals continue to seek out accommodations in nearby urban centers, suburban-based companies have been challenged with attracting and retaining a talented workforce," Maximilian Dorne, Partner at Claremont Development, said. "The District at 15fifteen will provide the amenities and modern living options millennials crave and serve as a significant tool for attracting and retaining a qualified pool of employees and employers in Parsippany and the surrounding area."

The New Jersey Department of Transportation has given permission to The District at 15fifteen to complete roadwork that will improve car circulation on both Route 10 East and West and provide a tie-in to the Dryden Way jug handle.

The road improvements will provide a direct connection to the Dryden Way ramps on Route 10 as well as the office park directly across Route 10, formerly known as the Mack-Cali office park.

"The direct connection will provide a regional benefit by removing vehicle trips through the intersection of Route 10 and Route 202 while opening an alternative point of access for several other commercial properties," the District at 15fifteen said.