From left: Dan Sliwak, Joseph Milelli, Wael Khoury, Parsippany Mayor James Barberio, Anthony Milelli, Haytham Haidar, Carmine Milelli and Nadim Zabaneh were among those on hand May 31 for a ribbon cutting ceremony for 500 PARQ in Parsippany. — Courtesy: PARQ
By Joshua Burd
A developer has unveiled a new 275-unit luxury apartment building in Parsippany, in a key step toward repurposing an aging suburban office campus at the crossroads of two interstates.
The property, 500 PARQ, has opened its doors two years after a high-profile groundbreaking at the Lanidex Plaza complex just east of Parsippany Road. It’s the first of at least two mixed-use multifamily buildings that a team known as PARQ Builders hopes to bring to the 45-acre site — which once housed as much as 450,000 square feet of office space across nine buildings — alongside a cluster of new townhomes that have been developed by NVR Inc.
Those initial phases were on display last week as the developer welcomed local officials and members of its project team for a ceremonial ribbon cutting at 500 Parq Lane.
“This project is a testament to the vision and dedication of everyone involved,” PARQ CEO Haytham Haidar said. “From the initial groundbreaking to today’s ribbon cutting — nearly two years in the making — our commitment to creating a dynamic and inclusive community has been unmistakable. 500 PARQ stands as a symbol of progress and the bright future ahead of PARQ Life Reimagined.”
Located at the junction of interstates 80 and 287, PARQ is slated to redevelop some 23 of Lanidex Plaza’s 45 acres and most of its existing office buildings. Minno & Wasko Architects and Planners has helped craft the new vision for the site while designing the new rental properties, the first of which has floorplans ranging from studios to three bedrooms and a host of upscale amenities.
A second phase will bring another 250 apartments to the site as the developer incorporates additional retail space, green space and infrastructure to create a walkable environment.
“500 PARQ is more than just a building; it represents a vibrant new era for Parsippany-Troy Hills,” Parsippany Mayor James R. Barberio said. “I look forward to seeing the community thrive and grow making Parsippany a top destination not only in the state of New Jersey, but in the nation.”
The event came some six years after Milelli Real Estate Partners assumed full control of Lanidex Plaza, whose highway access was once a key draw for tenants, but the market for suburban office space has declined over the past two decades. The firm went on to partner with Tema Development to form the team for PARQ, which has kicked off its redevelopment with the help of professionals such as Garofalo O’Neill Ruggierio LLC, Murphy Schiller & Wilkes LLP, Esposito Construction, Belle Contractors, Design 446, Greystar Real Estate Partners, Langan Melillo + Bauer Associates and Mary Cook Associates.
“I am grateful for the endless support of the community and key individuals who have been with us from the start,” said Anthony Milelli, managing director of PARQ. “Among the many, we extend our heartfelt thanks to Bob Garofalo, Joe O’Neill, our families and numerous others who have played integral roles in bringing this project to fruition.”
Haidar also expressed appreciation for everyone who contributed to the project over the years, in particular the Khoury and Milelli families: “This journey has infused me with gratitude and vision, and ignited hope for the future of Parsippany.”
Redevelopment of Parsippany office park comes with multilayered approach to sustainability
