SOUTH ORANGE, NJ - The new apartment complex at Third & Valley held its grand opening and ribbon cutting on Monday, Sept. 19, with representatives from the developer, Jonathan Rose Companies, South Orange officials, and members of the community joining the celebration.
The Third & Valley development, which began construction in 2014 and cost $64.4 million to build, has over 200 studio, 1-bedroom, and 2-bedroom apartments which rent from $2,200 for a one-bedroom apartment, and from $2,900 for a two-bedroom apartment. All of the studio apartments are currently leased. A representative from Third & Valley explained that there are about 30 different floor plans, with some apartments having unique layouts. Apartment prices are available online at ThirdandValleyapts.com, and change daily based on supply.
Currently, about one-third of the units have been leased, and residents have moved into about 50 of the apartments, according to a representative of Third & Valley. Twenty-one apartments are reserved for moderate and low income households.
In addition to the apartment units, the Third & Valley development also has 3,000-square-feet of retail space, landscaped public areas, and more than 500 parking spaces in a covered parking deck, with some of the spaces designated for public use.
The retail space at Third & Valley is divided into two separate units on the first floor. Artistry Salon has signed as the first commercial tenant, leasing a 1,504-square-foot area, which is currently under construction. Artistry Salon is targeting to open this winter. The remaining 1,496-square-foot space will likely be occupied by a café, which can make use of the outdoor patio, according to a release from the Jonathan Rose Companies.
Jonathan Rose of the Jonathan Rose Companies welcomed all to the grand opening and stated how pleased he was that their first New Jersey development was in South Orange. Rose added that South Orange is an "amazing community," and he was glad that Third & Valley was a part of this "thriving downtown."
South Orange Village President Sheena Collum also shared her enthusiasm for the Third & Valley development, stating how fortunate the Village was to have "this caliber of a developer focus on South Orange."
Collum continued that Third & Valley has been "transformative for the whole community," in that it attracted other developers to look at South Orange when they were planning their next projects. Collum also thanked the developers for creating affordable housing units, noting that "South Orange prides itself on its diversity."
" We are very proud to be the home of Third & Valley," said Collum.
South Orange Village Administrator Barry Lewis also spoke, looking back to the beginning of the project and sharing that now, "two-and-a-half years later we can stand in this incredible building which is part of the renaissance of South Orange."
Third & Valley was built to incorporate green features including water efficiency, energy reduction, and indoor air quality. The developer describes it as "a healthy building for active tenants."
The building, which is managed by Bozzuto Management, has a variety of amenities and features including an outdoor pool, a yoga lawn, several meeting areas and common rooms, a gym, bike storage, and an on-site concierge.