New Luxury Apartment Complex Opens Near Train Station In Newark

NEWARK, NJ — A new luxury apartment complex with nearly 300 units has officially opened its doors near a NJ Transit station in Newark.

Russo Development and Newark city officials recently held a ribbon cutting ceremony for Vermella Broad Street at 355 Broad Street, a “luxury lifestyle community” that features a collection of 296 apartments and 40,000-square-feet of amenities – all located less than 500 feet from Broad Street Station.

According to a news release from developers:

“Distinguished from the high-density, high-rise towers emerging in other parts of the city, Vermella Broad Street features twin five-story buildings spread over three acres seamlessly integrated into the existing streetscape. Residents can select from a mix of studios, one- and two-bedroom apartments with designer interior features. Select homes offer private outdoor balconies. Monthly rents for Vermella Broad Street’s residences start from $2,000. A portion of the community is dedicated to affordable housing.”

Outdoor amenities at the property include a landscaped courtyard with a resort-style pool, BBQ areas, a rooftop deck with views of Newark and New York City, and a dog run. Indoor amenities include a clubroom with outdoor access, a top-floor resident lounge, a fully equipped fitness center with a dedicated yoga room and co-working spaces.

Each building is complemented by a welcoming lobby, secure garage parking, 24-hour gated security, and access-controlled entry. The property also includes a street-level community gallery space that will exhibit the works of local artists and host neighborhood events.

The majority of homes at Vermella Broad Street – about 70 percent – were already occupied at the time of the grand opening event, developers said earlier this month.

Vermella’s footprint now spans across several communities in New Jersey, including Harrison, Union, Orange and Kearny. New projects are slated for Belleville, New Brunswick, East Brunswick and Hackettstown, developers said.

“Vermella is a giant step forward for our strategy of transit-oriented development around our train stations,” Newark Mayor Ras Baraka said, adding that the opening of the new complex is already beginning to transform the Broad Street Station area into a “walkable mixed-use, mixed-income residential neighborhood.”

Newark Deputy Mayor and Director of Economic and Housing Development Allison Ladd also hammered on the concept of “transit-oriented development” at the ribbon cutting ceremony – something that other housing and transportation experts in the Garden State have been calling for.

According to a recent report from the nonprofit Regional Plan Association, there are 74,000 acres of “underutilized” land surrounding commuter rail stations in the two states. That’s equivalent to the surface area of Manhattan and Brooklyn – combined.

The irony? The Tri-State region has one of the most robust commuter rail networks in the nation, with more than 390 stations and a combined annual ridership of 170 million, the RPA said.

• See Related: More Homes Needed Near Train Stations In New Jersey, New York

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