A rendering of a 153-unit luxury apartment project at 1255 Magie Ave. in Union — Courtesy: RMS Cos.
By Joshua Burd
A developer has broken ground on its first project in New Jersey, with plans to build 153 apartments at the site of a former salt factory in Union Township.
The Stamford, Connecticut-based firm, RMS Cos., announced Monday that it has started construction at 1255 Magie Ave. after completing its purchase of the former Schaefer Salt Factory. Plans call for 51 one-bedroom, 97 two-bedroom and five three-bedroom apartments at the site, along with a host of amenities at a location one mile north of Route 28.
“We are so excited to be expanding our operations into New Jersey and look forward to transforming this underutilized site into a lifestyle community with luxurious on-site amenities,” said Randy Salvatore, CEO and president of RMS Cos.
The firm is breaking into New Jersey after more than 20 years of developing in Connecticut, with a development pipeline of 1,500 rental units across the tristate area. The Union project, which features Lessard Design as its architect, sits near the Roselle Park border and is about two miles from the township’s NJ Transit rail station.
CBRE’s Jeffrey Dunne, Gene Pride, Jeremy Neuer, Eric Apfel and Zach McHale, along with colleagues Nat Gambuzza and Trevor Fiebel, represented Sherwood Group Associates in its sale of the development site. The 6.4-acre parcel traded for $6 million.
“We are pleased to have represented Sherwood Group Associates in this sale,” Dunne said. “The suburban location is the right place for new residential development as demographic trends show increasing interest from renters in places like Union that offer convenient access to employers throughout the region, while also providing a high quality of life in a suburban setting.”
Amenities will include a pool, cardio and core strengthening fitness center, a private on-demand yoga and spin studio, a resident lounge and a meditation room with a Himalayan salt wall, according to a news release. Plans also call for a children’s playroom, a multisport golf simulator, a game room and private co-working spaces.
“RMS Companies will do well with this development given their modern design with generous sized apartments, designer finishes and luxury amenities,” Pride added. “The timing for this development is turning out to be opportune as renters are more actively looking for high quality apartments in less dense locations.”