After a long road and lots of resistance from the neighborhood, developer Faison expects to finally break ground on a new development in Elizabeth this summer. The timeline once ground is broken is about 18 to 20 months to completion. This would put an end date roughly between October 2018 and April 2019.
The mixed use development is expected to contain 60 apartments and 21,000 square feet of commercial space. There will be two buildings on the 1.7-acre site. There could be 5,300 square feet of restaurant space while the rest of the commercial space could be retail or office space.
Located at the corner of East Seventh Street and North Caswell Road, the new development is a short block away from Independence Park. There are many restaurants and businesses within walking distance. An Uptown commute is a quick trip down Seventh Street.
There have been a few different iterations of the project as the community has been vocal with what they need and want. The developer has stated that they are “gearing after more of an empty nester, older demographic”. There is a lot of history in the neighborhood and they are trying to be sensitive to that while providing for the community. They have worked closely with Elizabeth Community Association as they have honed the design.
The residential portion of the project should include 85% two-bedroom apartments, with the remainder split between one and three bedroom units. Units will average 1,300 square feet. Rents have not yet been set, but corner units and units with uptown views will command premium pricing. As they are targeting empty nesters, look for the developer to cater to people who have abundant disposable income.
As ground has still not broken yet, plans are subject to change. The zoning that was approved in July 2016 would allow for up to 100 apartments and 30,000 square feet of commercial space.
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