In Morristown NJ Real Estate News, Transit Village Set To Break Ground.

On March 19th Transit Village, the newest of the Morristown real estate developments will break ground.  According to the Morris NewsBee, “Morristown mayor Donald Cresitello will join representatives of New Jersey Transit and other state and local officials at noon on Wednesday, March 19 at 50 Lafayette Avenue for ceremonies marking the groundbreaking of The Highlands of Morristown Station, a new luxury rental building, mixed-use development that will rise on a former commuter parking lot at the Morristown Train Station.

When the project is complete it will contain 217 residences in a 5 story building, and 8,000 square feet of main level retail space and 6,000 square feet of amenity space.  The 3,5-acre site will also contain a five-story parking garage which replaces the former open-air commuter parking lot.  The garage will offer 722 spaces, of which 415 will be designated for New Jersey Transit commuters.  The building is expected to be completed in spring, 2010, with the garage targeted for spring, 2009 completion.  The developer is Rosewood – a joint venture between Roseland Property Company and Woodmont Properties”.

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