Vermella at Garwood Station, Russo Development’s new 296-unit luxury apartment property in Garwood, is home to 40,000 square feet of indoor and outdoor amenity space. — Courtesy: Russo Development
By Joshua Burd
Renters have leased more than 50 percent of a new 296-unit luxury apartment property in Garwood, one of the latest pieces of Russo Development’s vast multifamily platform.
The firm announced the milestone last week about six months after the debut of Vermella at Garwood Station, which sits adjacent to NJ Transit rail service. That has likely drawn apartment dwellers to the complex at 450 South St., following Russo’s redevelopment of a large industrial site that is minutes from downtown Westfield and Cranford and several area highways.
“With a steady stream of residents moving in, Vermella at Garwood Station has come alive, and its dynamic lifestyle is on full display,” said Adam Pasternack, president of Russo Property Management, which has delivered and manages 10 other Vermella communities throughout the region. “It’s rewarding to see the interaction and relationships forming among the new neighbors as they connect through the community’s amenities and social spaces and numerous events and programming.”
Designed by Minno & Wasko Architects and Planners, Vermella at Garwood Station has some 40,000 square feet of amenity space, including a resort-style pool and sundeck with outdoor grills and a movie wall, along with a clubroom with game tables and a media center, a multisport simulator, a business and co-working center and modern fitness facilities, among other features. The developer also touted the complex’s event calendar for residents and 19,500 square feet of street-level retail that will house a café, restaurant and other conveniences.
Vermella at Garwood Station has drawn a range of renters, from empty-nesters scaling down from large single-family homes in neighboring Cranford and Westfield to young professionals migrating from Jersey City and Hoboken, Russo said. Monthly rents start from the $2,300s, with limited time incentives that include one month free.
JLL sources $80 million permanent loan for 296-unit Russo project in Garwood