Vango Development broke ground this week on a new luxury rental building in downtown Rutherford, it announced Thursday.
The property, called 106 Park Avenue, will include 52 rental residences in studio, one- and two-bedroom configurations, as well as 5,000 square feet of street-level retail space, Vango said in a news release.
“We are thrilled to have secured such an ideally located property for this project, and we appreciate the confidence that Mayor (Joseph) DeSalvo and the borough of Rutherford have placed in us,” Van Golemis, principal with Vango, said in a prepared statement. “We believe 106 Park Avenue will be a complementary addition to downtown Rutherford, and we look forward to creating a community of value that taps into the property’s full potential.”
Occupancy is scheduled for spring 2019.
“I’d like to welcome Van Golemis and Vango Development to Rutherford,” DeSalvo said in a statement. “We wish you luck with your new project and your future in Rutherford.”
The property was designed by Russell Bodnar. The Marketing Directors will serve as exclusive marketing and leasing agent.