ELIZABETH, NJ - LeCesse Development Corporation and MAS Development Group, nationally recognized multifamily developers based in Altamonte Springs, FL and Elizabeth, NJ are proud to announce the commencement of Vinty, the first ever Class-A multifamily community in Elizabeth which represents a $91.5MM investment towards the transformation and redevelopment of the city center.
Vinty, short for "Vintage City", celebrates Elizabeth's 350-year-old history and will consist of 267 units over four stories of wood frame residential atop a podium parked garage complete with ground floor retail and office space. Vinty will set a new standard of living in the submarket and feature Class-A interiors with a full luxury amenity package complete with a state-of-the-art fitness center, on-site dog park, outdoor theater area, virtual golf simulator, resort-style pool with jacuzzi room, a resident greenhouse and much more. The interior unit finishes will be at the top of the market, including quartz countertops, stainless steel appliances, modern cabinetry, undermount sinks, smart home features, in-unit washer and dryers, wood-style plank flooring, and walk-in closets.
Exceptional proximity to public transportation and walkable amenities has earned Vinty an impressive walk score of 95. The Elizabeth train station is currently undergoing a $71MM renovation to enhance the customer experience with new 12-car passenger platforms, a station building, elevators and increased accessibility. Only three stops from New York Penn Station, Elizabeth offers direct rail access to Manhattan, at a rental discount to other transit-oriented downtowns in New Jersey such as Harrison, South Orange, and Montclair. In addition, Newark Liberty International Airport is within 5 minutes by rail (as well as 5 minutes driving) and Newark Penn Station within 10 minutes. Residents can also switch to the Jersey City Path at Newark Penn station, easily providing access into Jersey City and Downtown Manhattan. The Elizabeth Train Station also provides rare access to two train lines (Northeast Corridor and North Jersey Coast Line), providing commuters with options and allowing residents to reach other major employment nodes such as Metropark and New Brunswick, along with New Jersey shore points such as Long Branch and Asbury Park.
Elizabeth, which serves as the County Seat for Union County, is an epicenter of economic activity within the County. Vinty is located one block from Broad Street and Morris Avenue, Elizabeth’s main downtown corridors, offering a variety of restaurants, bars, and shops. Union County College and Trinitas School for Nursing is located directly across the street from the Property, while the Union County Courthouse, Superior Court of New Jersey, and Union County Administrative Building is just three blocks away. Trinitas Regional Medical Center, a 554-bed hospital with 450 staff members, is located within a half mile.
Vinty was supported by a large array of people and organizations starting with the City of Elizabeth, Mayor J. Christian Bollwage and City Council who continually worked to ensure the project’s success. Jones Lang LaSalle (formerly Holliday Fenoglio Fowler) sourced the financing for the project with equity provided by Marble Capital out of Houston, Texas. Financing was provided by Citizen’s Bank, adding a second project to the strong partnership previously formed from Skye 750 in King of Prussia, Pennsylvania. The architect is Humphreys & Partners Architects and general contractor is March Associates out of Wayne, New Jersey. Neglia Engineering serves as the civil engineering firm and Prestige Environmental is the environmental consultant on the project. Sabre Real Estate and Colliers International are the brokers for retail and office.
Residences will become available for lease beginning in the spring of 2021.