The Hampshire Cos. on Tuesday announced plans for a 70-unit multifamily community in Allendale.
The building is scheduled to be completed in the second quarter of 2024.
Located at 220 W. Crescent St., the 104,620-square-foot community will be the newest addition to the Morristown-based firm’s growing portfolio of multifamily properties across northern New Jersey. Located less than half a mile from downtown Allendale and a short drive from Route 17, the community will feature connectivity to the Garden State Parkway and Interstate 287.
In addition to its location, its design from architectural firm DMR Architects will feature a variety of flexible one- and two-bedroom residences, including six affordable-housing units and three units designated for first responders. Beyond their homes, residents will also enjoy access to an impressive amenities package with a clubroom, storage, lounge and a 9,460-square-foot outdoor courtyard.
The construction of 220 W. Crescent St. highlights the Hampshire Cos.’ continued community-focused real estate investment in Allendale. In 2021, the company negotiated a deal with the borough to acquire the land at 220 W. Crescent St. as well as a neighboring 114,500-square-foot vacant industrial building at 230 W. Crescent St. Upon the acquisition of 230 W. Crescent St., the Hampshire Cos. oversaw an ambitious capital improvement plan to bring the building to full occupancy earlier in 2022.
“Through harnessing our deep experience in working collaboratively with local governments and stakeholders, we continue to be a trusted partner to municipalities who are looking to tap into the value of their real estate to create spaces that meet the needs of their local communities,” James Hanson II, CEO and president of the Hampshire Cos., said. “Our work in Allendale is emblematic of our singular vision of consistently transforming possibilities into opportunities to better serve our communities, and we are excited to bring our vision to life over the months to come.”
Kurt Vierheilig, director of design and partner for DMR Architects, added: “DMR worked with Hampshire and the township to create a design that would ensure aesthetic and proportional cohesiveness for a development that serves many important functions. We are excited to see this lively, functional and beautiful development come to life in a way that is meaningful to the Allendale community.”