The Rochelle Park-based real estate firm said the facility will be built on 1.4 acres at the 7.5-acre Village Center, located at 120 West Passaic St. The facility, which will be comprised of four stories and 113,000 square feet, will sit on the corner of Plaza Way and Fairfield Drive. It will have 816 units in various sizes and provide security and temperature control.
Tulfra said it acquired the property in 2018 and secured a $10.3 million construction loan from First Bank in Hamilton. The company said it has numerous plans for the site, including 160 luxury apartments, retail and open space concepts.
“Self-storage facilities continue to be an excellent way to bring jobs and tax revenue to properties otherwise sitting empty,” Sonny Jumani, president and partner, Tulfra, said. “Demand for self-storage remains high in the area. The population count is over 225,000 within a three-mile radius, plus there are a large number of commercial and residential projects in our market. We are excited that construction on this project is finally underway.”
The property is within close access to routes 17, 4, and 208, Interstate 80, and the Garden State Parkway.
“With residential, self-storage, and retail facilities on one site, Village Center will be a place to live, work and play, and will become a destination for many in Bergen County and beyond,” Jumani said.