Download Word Document: Click Here
Spring 2022 Occupancy Anticipated for Mixed-Use, Transit-Oriented Community
DUNELLEN, N.J., Jan. 6, 2022 — A second structure is under roof ahead of winter weather at Dunellen Station, with foundations and framing rising for the multifamily community’s four remaining buildings. Prism Capital Partners’ redevelopment of the former Art Color industrial facility at 100 South Washington Avenue is progressing right on schedule; Prism anticipates delivering the first apartments at Dunellen Station this spring.
Upon completion, the community – located directly across from the local train station, adjacent to Dunellen’s vibrant downtown – will include 252 one- and two-bedroom market-rate rental apartments, 58 of which are reserved for low- and moderate-income residents, and 10,000 square feet of street-level retail. The property also will include 130 for-sale townhouses, to be developed by K. Hovnanian Companies.
“Construction is progressing at a brisk pace,” said Prism Capital Partners’ Robert Fourniadis, senior vice president, residential. “Interior build-out is in full swing for the first two buildings. It’s exciting to see our vision for this project coming to life.”
Dunellen Station residents will enjoy a host of lifestyle amenities, including a clubhouse, meeting rooms, fitness center, outdoor pool with patio and an entertainment area. Designed by Spiezle Architectural Group, the community reflects the character of the former Art Color building, with the clubhouse and retail elements incorporating a transit theme to complement the neighborhood.
Nutley, N.J.-based Prism Capital Partners is an established leader in the redevelopment and adaptive reuse arena. The privately held owner/operator’s current Garden State multifamily projects also include Avenue & Green, a mixed-use, transit-village community in Woodbridge; Wonder Lofts, the conversion of the former Wonder Bread factory site on Clinton Street in Hoboken; and Edison Lofts, the redevelopment of Thomas Edison’s historic Invention Factory and Commerce Center campus in West Orange.