Accurate recently broke ground on a luxury rental community that will deliver 325 brand-new residences to Parsippany-Troy Hills, the Lakewood-based developer announced on Monday.
Construction is underway at 100 Cherry Hill Road, a 26-acre property near popular shops, grocery stores and entrances to Interstate 80 and Route 46, about one mile from the Mountain Lakes train station.
The development will consist of two four-story buildings with 162 units and 163 units, respectively, built above a ground-level parking garage. A total of 65 of the residences will be designated for low- and moderate-income renters.
“We are excited to begin construction at 100 Cherry Hill Road in Parsippany,” Jack Klugmann, CEO and president of Accurate, said. “This project will bring much-needed rental housing to one of New Jersey’s most desirable suburban markets. It reflects the shared vision we have for this property, along with Mayor James Barberio and the town council, to create a community of lasting value that will serve Parsippany-Troy Hills residents for many years to come.”
The residences at 100 Cherry Hill Road are being designed to include modern interior spaces with upscale details and appointments. A full complement of both indoor and outdoor amenities designed to enhance resident wellness, convenience and enjoyment will also be included. An outdoor pool and expansive courtyard are a few of the many planned recreation spaces.
The estimated completion date for the first building is fall 2023, according to Accurate. The expected completion date for the second building is first quarter of 2024. The community is designed by Minno & Wasko Architects and Planners, with interiors by Mary Cook Associates.
100 Cherry Hill Road’s location in central Parsippany-Troy Hills will put residents in the heart of Morris County, where commerce is booming and downtown offers an array of lakes, parks, and golf courses. Major highways are easily accessible, with entrances to Routes 46 and 202 and Interstates 80 and 287 are all less than two miles from the community. Downtown Morristown is a short, 10-minute drive away. Residents are also just a short drive from Waterview Marketplace, Parsippany’s newest shopping center.