A rendering of Vermella West — Courtesy: Russo Development
By Joshua Burd
Russo Development has started construction on its second apartment community in Kearny, adding to its growing pipeline of residential development in northern New Jersey.
The firm recently broke ground on the 280-unit project known as Vermella West, located at 113 Passaic Ave. Slated to include four residential buildings, the complex is expected to be complete in fall 2018.
“We are very pleased to break ground on another exciting project in the town of Kearny,” Michael Pembroke, executive vice president of Russo Development, said in a prepared statement. “Kearny is a strong residential community with convenient access to major employment hubs in Newark, Jersey City and New York, and Vermella West will provide new rental housing at a competitive price which is scarce in this area.”
The project follows the completion of the 230-unit Vermella Crossing, located at the intersection of Bergen and Schuyler Avenues in the Hudson County town. The first phase of the development, which also includes two retail pads currently leased to CVS and Investors Bank, was delivered in 2015, while a second phase is slated for completion early next year.
Vermella West also includes 15,000 square feet of indoor and outdoor amenity spaces, Russo said in a news release. The firm noted that the project is within the Passaic Avenue Redevelopment Area and adjacent to several new retail projects, including a power center anchored by BJ’s Wholesale Club and other retailers such as ShopRite.
Russo also owns industrial space in Kearny, having completed the 350,000-square-foot Saw Mill Park along Belleville Turnpike. The complex is home to PepsiCo and HD Smith Wholesale Drug Co.
“Vermella West will advance the Town of Kearny’s vision to bring continued development and vibrancy to the Passaic Avenue Redevelopment Area, which is along one of main corridors in our town,” Mayor Alberto Santos said. “The site was formerly occupied for industrial use, however it had been vacant for several years, and this project is the result of proactive steps taken by Kearny in collaboration with Russo Development to encourage redevelopment of this area.”
Russo, which is based in Carlstadt, also has completed or is developing multifamily projects in Harrison, Lyndhurst, Hackensack, Verona, Union Township and Garwood, among others. It is the latest project launched under the Vermella brand started by Russo in 2012.
“Vermella translates into red, Russo Development’s signature color,” said Adam Pasternack, senior vice president of leasing and marketing at Russo Development. “Its meaning is much more expansive though, the Vermella brand stands for high-quality construction, attention to detail and passion for the way we design, build and manage our communities.”
