New Housing Development 500PARQ Opens Its Doors In Parsippany

PARSIPPANY, NJ — A new luxury apartment complex in Parsippany is accepting applications as it prepares to welcome its first residents to 500PARQ.

A recent ribbon-cutting for the first 275 units marks the completion of the first phase of the plan for the former office park, which was developed by PARQ Life Reimagined.

The community is located at 500 Parq Lane near the intersection of Routes 287 and 80, in what was most recently known as Lanidex Plaza.

There are floor plans available for families, couples, and singles, ranging from studios to three-bedroom apartments. Rent for studios (under 550 square feet) begins at $2,211 per month, and three-bedroom units start at $5,162.

Residences are outfitted with GE appliances, quartz countertops, European-style cabinetry, and wood-look flooring throughout with porcelain tile in the bathroom. Some of the units have a terrace or balcony.

The pet-friendly apartment building includes a number of amenities, including a pool and sun deck, work rooms, a sports bar and game lounge, a private dining room, and a fitness center/yoga studio.

Nearby, there will also be 75 courtyard townhomes with two-car garages, as well as an athletic field, a concession building, restrooms and a playground. The "Villas at Parq" will start in the $900,500 range according to Ryan Homes.

This cluster of buildings at PARQ will replace office buildings which were demolished in 2022 at the Lanidex East office park off Parsippany Road.

The development includes 600 residential units as well as ground-floor retail and open space. Only two of the site's seven buildings, which once housed 450,000 square feet of office space, will remain.

The 23-acre transformation is expected to be completed in 2025, according to the developers. PARQ was known as Olson's Farm in the late 1960s before being rezoned as Lanidex Plaza.

A second large redevelopment project at 100 Cherry Hill Road broke ground in 2023, which will include two four-story buildings with 162 and 163 units built above a ground-level parking garage.