Paramount Assets recently broke ground on Netherwood Flats, a mixed-use project at 829 South Ave. in Plainfield, alongside city officials and other guests. — Courtesy: Paramount Assets
By Joshua Burd
Paramount Assets has launched construction for a project that will bring dozens of new luxury apartments and retail space to an area near one of Plainfield’s train stations.
The real estate investment firm announced Monday that it has broken ground on the mixed-use development known as Netherwood Flats, which will be located at 829 South Ave. Slated for delivery in spring 2021, the four-story complex will comprise 70 luxury apartments, 4,000 square feet of ground-floor retail space and underground parking.
Paramount recently celebrated the start of construction alongside more than 100 guests, including Plainfield Mayor Adrian O. Mapp, city council members and other city officials.
“Netherwood Flats symbolizes an exciting new chapter in this neighborhood’s ongoing redevelopment,” said Richard Dunn, Paramount’s senior vice president. “Our goal for this ground-up project is to create a mixed-use destination that elevates the city’s appeal while honoring its unique character. We’re thrilled to work in conjunction with Mayor Mapp and his administration to bring this vision to life.”
The complex will be steps from the city’s Netherwood train station, according to a news release. Upon completion, the project will feature amenities such as an elevated outdoor courtyard with gardens and a sun balcony, a 1,500-square-foot fitness center and a resident lounge.
The property’s mix of one- and two-bedroom apartments will include high-end finishes and appliances.