PLAINFIELD, NJ - Netherwood Flats is the latest development project to break ground in Plainfield. Its groundbreaking was held on Friday to celebrate the occasion, with members of the Levy Family from Paramount Assets, Mayor Adrian O. Mapp, Plainfield City Council members and administration officials in attendance.
Paramount Assets, a family-owned business run by Solomon, Ronnie and Maurice Levy, has been involved in the Plainfield community since 1985, and was behind the construction of the Family Dollar store adjacent to the Netherwood Flats site. (Photo credit: Jennifer Popper)
TAPinto Plainfield first reported on the applicant known as 829 South, LLC who appeared before the Planning Board in February 2018, providing details of the 4-story project consisting of 70 one- and two-bedroom luxury apartments and 4,200 square-feet of ground level retail space.
According to Valerie Jackson, Economic Development Director, Paramount Assets will be in Plainfield for a long time. She said the company has a strong relationship with the city, and is involved in many rehabilitation and construction projects with both residential and mixed-use projects in the downtown area.
Richard Dunn, Senior Vice President of Paramount Assets, described the project as being on the books for five to six years after the property was purchased in 2010. With help from the city, they were able to overcome obstacles due to a flood zone designation. “This project will be the catalyst for redevelopment on this part of South Avenue,” claimed Dunn.
According to Paramount’s website, the company focuses on “underutilized historical buildings and renovate them completely, retaining their original structure and grandeur while making them suitable properties for affordable housing, restaurants, banks, shopping centers, and more.”
Dunn remarked, “The city has been a key player in the project and proves that public and private can work for the betterment of the community. These elected officials can collaborate and work together to find common ground to make things happen, and that is why we are standing here today.”
“It is another great day for the City of Plainfield, and demonstrates the work of the team we have in place. We have made the process very easy so developers have confidence that it is easy to do business in Plainfield in all four wards of the city. Plainfield will be a shining example in Union County. This project is just a few feet away from our train station, and is ideally suited for what we are hoping for our transit villages and opportunity zones, and Plainfield can become a destination city.” stated Mayor Mapp in his congratulatory comments.
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