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Kushner Real Estate Group is building a new 239-unit luxury apartment complex in East Hanover, known as Valley View Park, at a site just off Deforest Avenue. — Rendering courtesy: KRE Group
By Joshua Burd
Kushner Real Estate Group has broken ground on a new 239-unit luxury apartment property in East Hanover, as it expands its portfolio of garden-style multifamily assets.
Known as Valley View Park, the project sits just off Deforest Avenue and will consist of five four-story buildings with a mix of one- and two-bedroom homes, plus a limited group of three-bedroom homes in select buildings, the firm said. It’s also reportedly the first piece of a plan to redevelop part of a site long owned by Mondelez International Inc., the snack maker, which sold roughly 80 acres of the property to KRE Group.
As part of the initial project, 34 apartments will be reserved for low- and moderate-income residents.
“We’re excited to enter the East Hanover market and look forward to delivering a high-quality residential development to this well-located and desirable suburban community,” said Jonathan Kushner, president of KRE Group. “In supply-constrained markets like many towns in Morris County, new rental communities such as this one play an important role in both attracting new residents and retaining existing residents, with a modern housing and lifestyle option at an attractive price point.”
In a news release, KRE said renters at the property will have access to a central clubhouse with amenities such as a community great room, a party room with a fireplace, a fitness center, a yoga room and a children’s playroom. Outside, the site will feature perks such as a swimming pool, a covered loggia with an outdoor fireplace, a three-season relaxation area and grilling and dining areas, among other spaces.
Valley View Park will also become part of KRE Group’s Garden Collection of more than a dozen rental communities across the tristate area, the news release said. The growing segment of properties has complemented its high-profile projects in more urban submarkets, including the 1,838-unit Journal Squared development in Jersey City.
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