With nearly 1,000 apartments under construction and some 2,000 more in its pipeline, Capodagli Property Co. is preparing for the next phase of its growth by launching a new hospitality platform that will bring cafés and restaurants to its future developments.
In Hackensack, a proving ground for Cap Hospitality
In crafting the design of the new Cap Diner, Nicolas Geeraerts said he wanted to “bring a little bit” of New York and Brooklyn, while also staying true to New Jersey. He also aims to create a younger, millennial vibe that is also going to attract families. The overall objective is to create a place “that is approachable, pricewise, for everybody (and) … where a community can get together without one person being better than the next,” said Geeraerts, who oversaw the development of a high-end food hall above New York Penn Station.
Editor’s note: Mastering the middle
Even before I started covering commercial real estate full-time, I still came across development stories during my earlier days as a metro reporter in Central Jersey. One of those stories came when I was covering Bound Brook, a borough in Somerset County that had a tired downtown and a history of being battered by flooding from the Raritan River. But in early 2011, we learned that a developer named George Capodagli was interested in building the type of new apartments that were starting to crop up elsewhere in the state.
Capodagli breaks ground on 145-unit rental project, its latest in Linden
Capodagli Property Co. has kicked off the latest project in its fast-growing pipeline — a development that will bring 145 new apartments and a restaurant to its home city of Linden.
Developer set to break ground on 63 units in downtown Bound Brook
A developer is preparing to begin construction on a new 63-unit apartment building in downtown Bound Brook, the first of three phases that are part of the borough’s growing pipeline.
Capodagli lands construction loan for 172-unit Rahway project, Avison Young says
Capodagli Property Co. has secured a $30 million construction loan for a new 172-unit apartment project in Rahway, in a transaction arranged by Avison Young.
Capodagli, local officials break ground on new Roselle Park rental community
A developer is set to transform a tired stretch of Route 28 in Roselle Park, with plans to build more than 200 new apartments and street-level retail space over the next two years.
Dover project marks latest transit hub community for Capodagli
Construction is underway at the site of a planned 214-unit apartment complex in downtown Dover, where a developer is seeking to capitalize on a busy downtown and nearby mass transit.
Developer secures $49.6 million loan for Hackensack rental project, HFF says
HFF has arranged nearly $50 million in financing for a newly built 222-unit, luxury apartment complex in Hackensack, the real estate services firm said Tuesday.
Getting on track: Successful rental project, flood control measures spur new interest in Bound Brook
A successful rental project is one of two driving forces that now have Bound Brook ready to move ahead with a long-overdue revitalization of its downtown. The borough, whose Main Street has a history of being pummeled by surges from major storms, marked the completion last year of a $143 million flood control project — meaning downtown business and property owners no longer need to spend thousands of dollars on flood insurance.
