Two Four-Story Buildings Rising on 26-Acre Property
PARSIPPANY, NJ – Developer Accurate recently broke ground on a luxury rental community that will deliver 325 brand-new residences to the Township of Parsippany-Troy Hills, the company announced today.
CONSTRUCTION UNDERWAY ON ACCURATE’S 325-UNIT
LUXURY RENTAL COMMUNITY IN PARSIPPANY
Construction is underway at 100 Cherry Hill Road, a 26-acre property near popular shops, grocery stores and entrances to Route 80 and Route 46, about one mile from the Mountain Lakes train station. The development will consist of two four-story buildings with 162 units and 163 units, respectively, built above a ground-level parking garage. A total of 65 of the residences will be designated for low- and moderate-income renters.
“We are excited to begin construction at 100 Cherry Hill Road in Parsippany,” said Jack Klugmann, President & CEO of Accurate. “This project will bring much needed rental housing to one of New Jersey’s most desirable suburban markets. It reflects the shared vision we have for this property, along with Mayor James Barberio and the Town Council, to create a community of lasting value that will serve Parsippany-Troy Hills residents for many years to come.”
Every project Accurate breaks ground on reflects the company’s commitment to delivering high-quality residences, transforming neighborhoods and enhancing the lives of its residents, and 100 Cherry Hill Road is no exception. The residences were thoughtfully designed to include modern interior spaces with upscale details and appointments. A full complement of both indoor and outdoor amenities designed to enhance resident wellness, convenience and enjoyment, will also be included. An outdoor pool and expansive courtyard are a few of the many planned recreation spaces.
The estimated completion date for the first building is fall 2023, according to Accurate. The expected completion date for the second building is first quarter of 2024. The community is designed by Minno & Wasko Architects and Planners, with interiors by Mary Cook Associates.
100 Cherry Hill Road’s location in central Parsippany-Troy Hills will put residents in the heart of a vibrant stretch of Morris County, booming with commerce, thriving downtowns, and a stunning array of lakes, parks, and golf courses. Major highways are easily accessible, with entrances to Route 46, Route 80, Route 202 and Route 287 all less than two miles from the community. Manhattan is about a 33-mile drive and also commutable via local park-and-ride bus service or NJ TRANSIT’s Montclair-Boonton rail line. Downtown Morristown is a short, 10-minute drive away. Residents are also just a short drive from Waterview Marketplace, Parsippany’s newest shopping center, where Whole Foods Market, HomeSense, Ulta Beauty, Old Navy, Shake Shack and other brand name retailers have opened up shop.
Accurate is one of the most active developers in New Jersey, with projects in multiple urban and suburban markets. Current developments include Citizen Linden, a 234-unit luxury rental community now leasing next to the Linden train station, Citizen Bound Brook, a new collection of 105 upscale rental residences now leasing in downtown Bound Brook, Citizen Bayonne, a 600-unit luxury rental community now leasing on the Bayonne waterfront, Morris Marketplace, a 140,000 square-foot retail destination in Morris Township, and CitiSquare Newark, a nine-phase project that will ultimately reshape the Newark skyline with 4,200 residential units and 100,000 square feet of commercial, office and hospitality space on the site of the former Newark Bears & Eagles Riverfront Stadium. Accurate is developing more than 10,000 residential units in New Jersey, Connecticut, Pennsylvania, and Florida.
For more information, visit www.accurate-re.com.
About Accurate
Founded by Jack Klugmann in 2009, Accurate was built around the principle of providing quality construction to transform neighborhoods and the lives of those who live and work in the homes and buildings constructed. The company has earned a reputation for developing high-quality multifamily properties, including transit-oriented developments in key urban and suburban locations. Currently, Accurate is developing and leasing thousands of units in New Jersey, Connecticut, and Pennsylvania. A key factor in the company's success is that Accurate is both the developer and general contractor of its projects. By maintaining control over these critical aspects of any development project, Accurate is able to manage project costs and construction timetables which maximize efficiency and allows the Company to complete projects ahead of schedule and at or below budget. www.accurate-re.com