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 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.
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 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.
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.
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.
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.
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.
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.