Paramount Assets joined City of Plainfield leaders on March 31, 2023, to cut the ribbon to Netherwood Flats, a mixed-use development in Plainfield.
Plainfield Mayor Adrian Mapp, Council President Charles McRae, and Director of Economic Development Zenobia Fields joined Paramount Assets Senior V.P. Richard Dunn and the senior leadership of Paramount Assets for the celebration.
Netherwood Flats is a transformative project for the City of Plainfield. Built on the location of a former used car dealership, the redevelopment at 829 South Ave., is a four-story, 128,000-square-foot transit-oriented building. The mixed-use community includes 70 over-sized luxury apartments, 4,000 square feet of ground-floor retail space, and an 84-space parking deck.
“Every ribbon cutting represents a step forward for the City of Plainfield. It’s a symbol of the trust that investors have in us,” Mapp said. “Paramount Assets continues to demonstrate that they are solid partners in realizing a Plainfield that provides diverse housing and builds a thriving economy. I look forward to a continued, shared vision.”
“Netherwood Flats is a transformational project which signifies a substantial step in Plainfield’s recent revival,” Dunn said. “Our goal is to have Netherwood Flats lead the revitalization of the city’s renaissance, creating a lively community for all of Plainfield. It is bringing in new residents to much-needed luxury housing, and the convenience of a transit-oriented development for accessing Newark and New York City.”
The development is a short 3-minute walk from Plainfield’s Netherwood NJTransit train station and will offer its residents easy access to the Raritan Valley commuter rail line, traveling to Newark, Manhattan, and beyond.
Netherwood Flats Offers Upscale Amenities and Finishes
The Netherwood Flats community includes several on-site amenities to enhance residents’ lifestyles. The development incorporates a landscaped, elevated courtyard; a 1,500-square-foot fitness center; and a residents’ lounge. The property’s one- and two-bedroom units – ranging in size from 624 square feet to 1,427 square feet – have high-end finishes and stainless-steel appliances.
Other features of Netherwood Flats include:
Modern kitchens with a breakfast bar
Artisan ceramic tiles in the kitchen and baths
Video intercom systems
Live-in, on-site superintendent
Netherwood Flats’ construction began on March 1, 2021, as part of Mayor Mapp’s and the City Council’s redevelopment vision for the Netherwood section of the city. The initial phase of the project opened for occupancy in January 2023, and the final phase was completed in March. Netherwood Flats is now more than 50% leased.
Leasing Special for New Residents
Netherwood Flats is offering lease specials for residential tenants through May 31, 2023: residents signing new apartment leases that begin no later than June 1, 2023, will get one month free, pay a security deposit of just $599, have no amenity fee, and parking will be included. Details and requirements for this deal can be found at the community’s website, www.netherwoodflats.com, and prospective residents can visit the onsite leasing office.