Property
Pearl Street Piazza
Location
Metuchen, NJ
Size
273 Units
Value
$76.25M
Type
JV Equity Raise

Pearl Street Piazza

BlueGate Partners LLC was retained by Woodmont Properties to secure development financing for Pearl Street Piazza, a fully-approved, mixed-use town center, which will be developed adjacent to New Jersey Transit’s commuter rail station in Metuchen, New Jersey. Featuring 273 luxury multifamily units in two mid-rise buildings of four- and five-stories, the project will also include a luxurious lobby, 10,756 square feet of amenity space, 11,901 square feet of retail space and a large, programmed public “piazza.” In addition, the project will benefit from the Borough of Metuchen and Nexus Parking Systems developing a 753-space parking garage onsite. Pearl Street Piazza will have a guaranteed allocation of 350 spaces in the garage for use by its residents, with the balance of the spaces available to monthly commuters and the public.

With access to the Metuchen train station only steps from the Project, residents will be able to access the largest employment market in the country in less than one hour. Additionally, just one block west of the development, a 43,500 SF Whole Foods Market is under construction and is anticipated to open in 2016. This new retail core, along with Pearl Street Piazza, will further solidify the standing of Metuchen as one of New Jersey’s best and brightest communities.