The Hampshire Companies celebrated the groundbreaking of a 70-unit luxury multi-family complex located at 333 Central Avenue in Westfield, N.J. along with joint venture partner Claremont Companies and project investment advisor Circle Squared Alternative Investments. The development, located just 1/10th of a mile from Westfield’s NJ Transit line with direct access to New York City, will create the town’s first transit-oriented, luxury residential community.
The event brought together executives from The Hampshire Companies, Claremont Companies, Circle Squared Alternative Investments, project investors, and Westfield Township officials to mark the official start of the project.
From left: Westfield Councilman Frank Arena; Vice Chair of The Hampshire Companies Norman Feinstein; Westfield Mayor Andrew Skibitsky; Founder and President of Circle Squared Alternative Investments Jeffrey Sica; Principal at Claremont Companies Stephen Sciaretta; Director at Claremont Companies Richard Sciaretta; Westfield Councilman Sam Della Fera.
“We’re excited to break ground and officially start developing the first transit-oriented, luxury community of its kind in Westfield,” said Norman Feinstein, Vice Chairman of The Hampshire Companies. “We look forward to preserving the character that makes Westfield such a special place to live while drawing from its vibrant culture to create a community that compliments all that Westfield has to offer. We are grateful to Mayor Skibitsky and members of the Town Council for believing in and supporting our vision.”
Slated to be completed in Spring of 2017, the four story, 126,340-square-foot community will feature a variety of unit layouts ranging from 700 square feet to 1,550 square feet. Options renters will have to choose from will include one or two-bedrooms with select units featuring a den and a private terrace. Amenities that all renters at 333 Central Avenue will have include hardwood floors throughout, 9’ ceilings, stainless steel appliances, granite countertops, and spacious walk-in closets. Community amenities include secure and covered parking, a luxurious lounge with a wet-bar for entertaining, a state-of-the art gym with a yoga room, a roof top lounge and ample additional storage units located on each floor.
“When you look at Westfield and all it has to offer from its central location, its vibrant downtown with dozens of restaurants and hundreds of retailers and couple that with direct access to New York City it’s not hard to see why people love living here,” said Jeffrey Sica, Founder and President of Circle Squared Alternative Investments. “When Hampshire approaches us with projects as exciting as this one, it makes our job of finding accredited investors for the project much easier. My clients are always thrilled to be a part of something so transformative and Circle Squared is always proud to work with trusted partners like Hampshire and Claremont Companies.”
“333 Central Avenue will come to serve as an example of how transit-oriented, multi-family communities can provide opportunities for non-urban towns to stay competitive with the generation of residents who want to work, live and play all within their communities,” added Richard Sciaretta, Director, for Claremont Companies. “We are breaking the mold on what typical transit development means and creating something that is sustainable for suburban growth and attractive to a diverse population that wants easy access to retail and dining as well as mass transit access to urban centers of commerce like New York City and Newark.”
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