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Plans for Liberty Village at the intersection of West Hanover Avenue and Sussex Turnpike in Randolph call for 125 apartments and townhomes across 11 buildings. — Rendering courtesy: CrownPoint Group
By Joshua Burd
CrownPoint Group has acquired a nearly 15-acre development site in Randolph that is fully approved for 125 upscale apartments and townhomes.
The firm said the property, located at the intersection of West Hanover Avenue and Sussex Turnpike, will be home to its largest project to date when it breaks ground on what it calls Liberty Village. Construction is slated to begin in the third quarter of 2024.
“In a submarket characterized by overwhelming demand for — and a shortfall in supply of — luxury-rental options, Liberty Village will have tremendous appeal among a diverse tenant demographic, from young professionals and executives with families to well-educated empty nesters,” CrownPoint Vice President Michael Legacki said, noting that the township for decades has lacked a new large-scale residential development.
“Randolph is that high-barrier-to-entry, central Morris County location that offers an active suburban lifestyle,” he added. “It also connects to the greater New York metro’s employment hubs and lifestyle amenities, from New York City and Morristown to all of North Jersey.”
Located in the town’s Mount Freedom section, the 14.5-acre site is approved for 11 residential buildings with a mix of two- and three-bedroom units, the majority of which will offer three-story townhouse layouts, according to a news release. The inventory will include 100 market-rate units and 25 that are reserved as affordable housing.
Plans also call for a clubhouse with several high-end community spaces, including a modern fitness center and golf simulator, along with a dog park and direct-access garage parking for most units.
“This is an extremely rare development opportunity to build a sought-after townhouse rental project in one of Morris County’s premier towns,” said Don Rasmusson Jr., CrownPoint’s director of development. “CrownPoint is favorably positioned to streamline delivery of these high-caliber townhome rentals within approximately 12 to 14 months of the construction start.”
CrownPoint announced the acquisition last week while touting Randolph’s highly rated school district and its large selection of retail, restaurant and recreation options. Residents also have quick access to NJ Transit’s Dover and Morristown stations and major highways such as routes 10 and 46 and interstates 287 and 80, while they’re minutes from the walkable downtowns of Morristown and Denville and Rockaway Townsquare Mall.
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