Plans for The Rail at Bound Brook at 100 Hamilton St. call for 143 upscale apartments with a host of community amenities, as depicted in this rendering. — Design by Minno & Wasko Architects and Planners/Courtesy: Denholtz Properties
By Joshua Burd
Denholtz Properties and Redwood Real Estate Group are set to break ground on a new 143-unit luxury apartment building in downtown Bound Brook, the firms announced Monday.
Known as The Rail at Bound Brook, the project at 100 Hamilton St. is slated to be under construction by year-end, with an estimated completion date in the second quarter of 2024. Plans call for a mix of studio, one-bedroom and two-bedroom homes — some of them with dens and private outdoor spaces — along with amenities such as a courtyard with outdoor grills and seating, an indoor fitness and yoga studio, a game room and bike storage.
The news comes a month after the joint venture secured a $32.45 million construction loan for the project, in a deal arranged by JLL. March Associates is the project’s construction manager.
“Recognizing and efficiently capitalizing on opportunities in the real estate market underpins everything that we do at Denholtz Properties,” said Steven Denholtz, the firm’s CEO. “With highly favorable local demographics, a strategic location and tremendous untapped redevelopment opportunities, Bound Brook is the perfect next location for us to execute our opportunistic investment strategy. We look forward to bringing The Rail at Bound Brook to life and helping the borough to become a destination for residents and visitors alike.”
Designed by Minno & Wasko Architects and Planners, the six-story building will be among the newest additions to the borough’s growing downtown. The project site is one block north of NJ Transit’s Bound Brook station, while the redevelopment area benefits from a $143 million flood control project completed in 2016 by the U.S. Army Corp of Engineers.
Denholtz, which has a growing multifamily pipeline, also noted that the state of New Jersey has designated Bound Brook as a Transit Village and earmarked $2.2 million for the creation of a one-block pedestrian plaza adjacent to the planned entrance of The Rail at Bound Brook.