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05/30/2023

Ground broken for mixed-use project in Parsippany, N.J.

Al Urbanski
Real Estate Editor & Manager
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District 15fifteen’s retail customer base will include residents as well as workers from local office parks.

 A master-planned, live-work-play development is coming to Parsippany, N.J.

Stanberry Development Group and Claremont Development have broken ground on The District at 15fifteen, located in Parsippany, at the intersection of the north-south I-287 and the east-west I-80.The town hosts headquarters and corporate offices of companies the likes of Bayer, Honeywell, MetLife, Deloitte, and Tiffany.

The District at 15fifteen’s 60,000 sq. ft. of retail space is intended for high-end and local retailers, full-service and QSR restaurants, boutique fitness, and specialty services. The three-building, complex will hold 498 rental apartments, 49 of which will be age-restricted units for residents 55 and older.

“This exciting project takes a stagnant property and creates unique and vibrant possibilities that are part of the fabric making Parsippany one of the best places to live, work, and play in New Jersey,” said Parsippany Mayor James R. Barberio.

A year-round schedule of events are planned to fill District at 15fifteen’s streetscape-style that will include farmer’s markets, music in the park, food trucks, and family movie nights.

The “pedestrian first” town center design of the project will provide access for vehicles walkways for residents, visitors, and the tens of thousands of workers whose offices can be found in the area.

“As young working professionals continue to seek out accommodations in nearby urban centers, suburban-based companies have been challenged with attracting and retaining a talented workforce,” said Maximilian Dorne, a partner at Claremont Development. “The District at 15fifteen will provide the amenities and modern living options millennials crave and serve as a significant tool for attracting and retaining a qualified pool of employees and employers in Parsippany and the surrounding area.”

The New Jersey Department of Transportation will make roadway improvements that will enhance vehicular circulation to both the east- and west-bound sections of Route 10, upon which the projected will be built. A direct connection will also be made to the nearby Mack-Cali office park, creating an alternative point of access to the District for several other commercial properties.

First move-ins are slated for the fall of 2024 with the retail and restaurant portions slated for completion in fall of 2025.