Life Assets LLC is developing a 17-unit apartment building at 308-310 West Jersey St. in Elizabeth, as depicted in this rendering. — Rendering by James Guerra, PA. Architects/Courtesy: Life Assets LLC
By Joshua Burd
A developer is planning a fall groundbreaking in Elizabeth after receiving key local approvals for a proposed 17-unit apartment building in the city’s Elmora Hills neighborhood.
Life Assets LLC, a Springfield-based firm, said the project at 308-310 West Jersey St. calls for a collection of two-bedroom homes and 26 ground-floor parking spaces. The company announced Thursday that it received unanimous preliminary and final site plan approval, having worked alongside architect James Guerra and law firm Hehl & Hehl during the process.
It now expects to break ground this fall, with construction slated to take around 24 months.
“The city of Elizabeth has an incredible vision for this neighborhood and we are thrilled to be a part of this new development project,” said Alberto Goncalves, a city native and CEO and president of Life Assets. The firm purchased the development site in August 2020.
“Since acquiring this property, we have made sure to listen to the needs and characteristics of the neighborhood,” Goncalves added. “This project has been a long road. We envisioned a property that not only fit the characteristics of the neighborhood, but served as a beautiful addition.”
The building is also slated to include a community room, a fitness center, touchless entry into the building and electric vehicle charging stations, according to a news release.
“This new midrise building will add character to the already rich neighborhood,” said Dr. Kamran Tasharofi, a co-developer in the project.
News of the approvals comes after Life Assets’ recent completion and sale of 23 multi-unit buildings at the site known as New Park Estates, also in Elizabeth.