The District at fifteenfifteen, a mixed-use master-planned development, has been officially opened by a joint venture between Stanbery Development Group, Claremont Development, PCCP, LLC. The project is based in Morris County, New Jersey. New York Life Insurance Company provides the construction loan.
The District at fifteenfifteen, located at 1515 Route 10 Parsippany N.J. will have approximately 60,000 sq. ft. of local and high-end retailers, restaurants (full and quick service), boutique fitness, and specialty services. It also includes a luxury apartment complex with 498 units. The streetscape-style, three-building complex will be a unique destination for community gatherings, with year-round programs such as farmer’s markets, music on the park, food truck nights, and family movies.
“By creating new housing, commercial and employment opportunities in Parsippany this exciting project transforms a stagnant piece of property into a unique and vibrant possibility that is part of what makes Parsippany a great place to live, play and work,” said Mayor James R. Barberio.
The District at 15fifteen features 498 luxury rental homes that are thoughtfully designed. This includes 42 affordable units, and 49 units restricted to residents aged 55 and older. Phase one, which will consist of a mixture of studios, one-bedroom and two-bedroom apartments, will be spread across two wood-framed buildings with two courtyards. Phase two, a wood-framed five-story building, will wrap an 853 space parking deck and have one courtyard. Additional 209 parking spaces on the surface will be available, with valet parking as an option. The two parking areas will serve the entire development and offer easy access to residents, retail clients, and visitors.
The District at 15fifteen features high-end finishes and amenitized communal spaces that are tailored to work-from home lifestyle. Residents will enjoy access to a full suite of resort-style, modern amenities including a fitness center, yoga studio, pool, lounge area, conference center, co-working/work-from-home options, and dog spa. The 49 units that are age restricted will have their own lobby, as well as amenities such as a co-working space, party room and roof terrace.
Marc Hays is a Partner at Stanbery Development Group, responsible for Acquisitions and leasing. He said that over the past few years, Parsippany and, specifically, the stretch of Route 10 from Interstate 287 to Route 202 has undergone a massive transformation. This includes an influx national retail, hotel, and restaurant options aimed at both serving residents and the daytime workers in Morris County. “We, along with our partners at Claremont Development, and PCCP, saw the opportunity to cater to this growing need and anchor the Route 10 corridor in a vibrant, new town center.
The District at 15fifteen’s “pedestrian-first” design will include pedestrian crossings and access for cars. This design is intended to be a livable, walkable area for residents, visitors, and the tens and thousands of employees who work in the vicinity, such as Wyndham Worldwide and Avis/Budget, Tiffany & Co., and Zoetis.
“ As young professionals continue to look for accommodations in urban centers nearby, suburban-based businesses have faced challenges with attracting and maintaining a talented workforce,” Maximilian Dorne said, Partner at Claremont Development. The District at 15fifteen is designed to provide millennials with the modern amenities they desire and will serve as an important tool for attracting and keeping qualified employees and employers. This group, as well as 55-year-old residents who enjoy an active lifestyle, will benefit from the ability to walk seamlessly to the commercial center of the community for a morning yoga class or business lunch. “The District at 15fifteen offers something for everyone.”
New Jersey Department of Transportation has approved the District at 15fifteen to complete road improvements. These improvements will improve vehicular circulation on Route 10 East and west, as well as providing a connection to the Dryden Way jug handles. The road improvements will allow a direct link to the Dryden Way Ramps on Route 10 as well as to the office park directly across Route 10 (formerly known as Mack-Cali Office Park) without ever hitting a traffic signal. Direct connection to the office park across Route 10 – formerly known as Mack-Cali office park – will benefit regionally by removing trips between Route 10 and Route 202, while also opening up an alternative access point for other commercial properties.
The first move-ins will be in the Fall of 2024, with retail and restaurant sections to be completed by Fall 2025.