A development group has completed Montclair’s first ground-up, full-service hotel in more than 80 years, debuting a new 159-room Marriott property in the community’s popular downtown.
The developers of a new 159-key Marriott hotel in downtown Montclair has secured a $37.5 million bridge loan, under a transaction arranged by PMZ Realty Capital LLC.
A design firm that has been a key player in Hoboken’s rebirth has expanded well beyond Hudson County, amassing a pipeline of suburban but transit-oriented residential projects in well-known locales such as Morristown, Montclair and Westfield.
Ironstate Development Co. and Brookfield have broken ground on a long-awaited, $135 million project in downtown Montclair that will deliver 200 apartments and a mix of artist and commercial space alongside the historic Wellmont Theater.
The Pinnacles Cos., in a joint venture with The Hampshire Cos. and investment partner Circle Squared Alternative Investments, broke ground recently on downtown Montclair’s first new full-service hotel in decades.