Denholtz Properties and Redwood Real Estate Group welcomed local officials and members of their project team Wednesday, May 24, to break ground on a 143-unit luxury apartment building known as The Rail at Bound Brook, at 100 Hamilton St. in Bound Brook.
By Joshua Burd
Construction is underway on a project that will add more than 140 apartments to Bound Brook’s fast-growing stock of luxury multifamily buildings.
Its developers, Denholtz Properties and Redwood Real Estate Group, gathered Wednesday for a ceremonial groundbreaking at 100 Hamilton St., a nearly two-acre site just north of the borough’s Main Street and steps from NJ Transit’s Raritan Valley line. They expect to complete the project around late summer or early fall 2024, offering a mix of 143 studio, one-bedroom and two-bedroom homes and amenities such as a courtyard with outdoor grills and seating, an indoor fitness and yoga studio, a game room and bike storage.
“Today is an exciting day for Denholtz Properties,” said Steven Denholtz, the firm’s CEO, who thanked Redwood for envisioning the project. He also praised local officials for supporting the development and pointed to the importance of what will be a one-block pedestrian plaza adjacent to the building’s entrance, noting that the borough recently secured $2.2 million in state funding for the public improvement.
“It will further energize the amazing amount of work that’s been done in town,” Denholtz said. “Bound Brook has overcome some significant challenges and is doing just great.”
The team for the upscale rental project includes Minno & Wasko Architects and Planners and March Associates, its construction manager, while Citizens provided a $32.45 million construction loan that was sourced by JLL. Known as The Rail at Bound Brook, the building will be among the latest to benefit from a $143 million flood control project completed in 2016 by the U.S. Army Corp of Engineers, which figures to protect the borough from the types of storms that have devastated its downtown in past decades.
In addition, local officials have “done an amazing job of being so receptive and encouraging people to invest in the town,” said Eric Horowitz, a principal with Redwood Real Estate Group. The new pedestrian plaza will be “a key activator downtown,” where hundreds of other apartments are under construction or in development.
“I think we’re going to have a vibrant walkability,” Horowitz said, “and that was the key to getting down here after the flood control project — the fact that you have a tight little downtown, and with a little bit of infill you can really see the ability to go to a restaurant, grab an ice cream and things like that.”
Denholtz, Redwood eye start of construction for 143-unit Bound Brook rental project
