Accurate’s plans at 100 Cherry Hill Road in Parsippany call for apartment buildings of 162 and 163 units, both of which will be built above a ground-level parking garage. — Rendering by Minno & Wasko Architects and Planners/Courtesy: Accurate
By Joshua Burd
Accurate has started construction on a project that will bring 325 new apartments to a 26-acre site in Parsippany, adding to its fast-growing residential portfolio in the region.
According to the developer, the first of two buildings at 100 Cherry Hill Road is slated for completion this fall, as it looks to capitalize on a location with direct access to both Interstate 80 and Route 46. It expects to deliver the second building in early 2024, the firm said, noting that both will be constructed above a ground-level parking garage.
Additionally, 65 of the units will be reserved for low- and moderate-income renters.
“We are excited to begin construction at 100 Cherry Hill Road in Parsippany,” said Jack Klugmann, CEO and president of Accurate. “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.”
Designed by Minno & Wasko Architects and Planners, with interiors by Mary Cook Associates, the complex will have upscale homes and a host of indoor and outdoor amenities. Residents, meantime, will be a mile from the Mountain Lakes train station and minutes from a long list of retail, dining and recreation options in Morris County.
Nearby offerings include Waterview Marketplace, Parsippany’s new Whole Foods-anchored shopping center, and downtown Morristown.
The milestone comes as Accurate, which is based in Lakewood, continues to build a development pipeline spanning more than 10,000 residential units in New Jersey, Connecticut, Pennsylvania and Florida. Its current developments include multifamily projects in Linden, Bound Brook and Bayonne, along with the 140,000 square-foot Morris Marketplace in Morris Township and the massive CitiSquare Newark project at former Newark Bears & Eagles Riverfront Stadium.
Developer buys Parsippany site slated for 325 apartments, C&W says
