Netherwood Flats at 829 South Ave. in Plainfield — Courtesy: Paramount Assets
By Joshua Burd
Paramount Assets is set to unveil a new 70-unit luxury apartment building in Plainfield that has helped revitalize the former site of a used car dealership.
Known as Netherwood Flats, the property at 829 South Ave. is a three-minute walk from NJ Transit commuter rail service and includes 4,000 square feet of ground-floor retail space. Paramount is now marketing those features and more with the launch of preleasing at the four-story building, with a grand opening slated for New Year’s Day.
“Plainfield is at the leading edge of a revival that Netherwood Flats is helping to facilitate,” said Rich Dunn, a senior vice president with the Newark-based developer. “Transit-oriented projects are very in-demand in suburban New Jersey and their success can revitalize an entire town. That’s what we are envisioning with Netherwood Flats – creating a lively community with luxury apartments and new retail shops for all residents in Plainfield.”
In a news release, Paramount said the building has a mix of upscale one- and two-bedroom homes ranging from 624 to 1,427 square feet, along with an 84-space parking deck for residents. Amenities include a landscaped courtyard, a 1,500-square-foot fitness center and a lounge.
The first phase of Netherwood Flats will be available for occupancy in January, while the final phase will be completed in March 2023, the news release said. The milestones follow a November 2019 groundbreaking for the project, which drew Plainfield Mayor Adrian O. Mapp, city council members and other local officials.
“Netherwood Flats would not have come to fruition without the support of Mayor Mapp and the city council,” Dunn said. “They were truly visionaries regarding the redevelopment of the Netherwood section of the city.”
The project is Paramount’s largest to date in Plainfield, where it’s also repurposing a 54,000-square-foot, three-story retail building at 159-171 East Front St. to create a mixed-use property with 35 residential units and 28,000 square feet of ground-floor commercial space, the news release said. Its other holdings include a 2.5-acre site within the Cleveland Avenue Arts & Culture District, between East 4th and East 5th streets and Cleveland Avenue, and 75,000 square feet of in-line retail at 154-224 East Front St. and Watchung Ave., one block from the downtown train station.