By Real Estate NJ
Local officials in Pompton Lakes have approved a plan that would bring more than 450 apartments and a host of retail space to its downtown, according to a published report Tuesday.
The story by NorthJersey.com says the developer, Meridia Capodagli Property, will now start approaching about a dozen property owners to assemble the land for the mixed-use project. The report also noted that the recent approval from the Pompton Lakes Redevelopment Agency is based on conceptual plans, which could be changed before any groundbreaking.
As of now, those plans call for a five-story project with 460 residential units, 867 parking spaces and new ground-floor retail and restaurant space, NorthJersey.com reported. Once the land is assembled, the complex could be completed in about 18 months.
Pompton Lakes has entered a 270-day agreement with Capodagli, the report said.
For more, see Tuesday’s story by NorthJersey.com.
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Editor’s note: The Rundown is a regular feature by Real Estate NJ in which we recap commercial real estate stories and headlines from across the state.