River Road Apartments Expected To Begin Leasing This Fall In Chatham

CHATHAM, NJ — Construction on the 245-unit luxury apartment complex in Chatham Borough is almost complete, according to developer BNE Real Estate Group.

Located at 2 River Road, "The Ivy of Chatham" was initially approved by the borough in 2021 and has been marketed as a luxury apartment complex with a mixture of 37 affordable housing units.

The building, which will have 245 rental units, is just minutes away from Chatham’s vibrant downtown and train station.

In anticipation of its opening, BNE has launched a teaser website at www.theivychatham.com, where interested residents can join a VIP waitlist to be among the first to tour the property this fall.

"Chatham is the crown jewel of suburban living in New Jersey, and it’s about to witness the debut of an extraordinary community that surpasses all expectations,” said Jonathan Schwartz, a partner at BNE Real Estate Group. “The Ivy offers more than a home; it offers an opportunity for residents to embrace the exceptional lifestyle of this one-of-a-kind community while immersing themselves in the rich attributes of Chatham.”

A variety of one- and two-bedroom floor plans will be available, with select premium homes offering additional den space. Upscale finishes and appointments include 9’ to 11’11” ceilings, luxury plank flooring, and designer kitchens with quartz countertops, polished tile backsplashes, stainless steel appliances, wine refrigerators and gas ranges.

The "Class A" building will also have a media center, a game room, two multi-sport simulator lounges, an on-site pet spa and a fitness center, according to Schwartz.

Outdoors, residents can enjoy 18,000 square feet of "paradise" spanning three courtyards and featuring a refreshing swimming pool, private cabanas, firepits, private BBQ dining areas, an outdoor movie lawn, and a covered outdoor lounge designed for year-round enjoyment.

There will also be a doorman on duty who will provide 24-hour concierge service. Schwartz stated that the widening of the intersection at Watchung and River Road, an extended left-turn lane, and the free shuttle bus service to and from the train station would all help to reduce traffic.

The project is being funded through a Payment in Lieu of Taxes (PILOT) deal adopted via ordinance by the Borough of Chatham Council. Chatham Borough Council member Jocelyn Mathiasen previously stated that the financial agreement will generate $49 million in revenue.

When the project was first approved, one of the main concerns was its influence on the local school district. Jill Critchley Weber, President of the Chatham Board of Education, has stated that the school district planned to explore sharing the PILOT cash from the River Road development with members of the borough council.

Neither the borough nor the school district have issued an official statement or provided an update on the potential negotiations between the two entities.