PARSIPPANY — The stage is set for exceptional new beginnings as officials break ground on PARQ. Located at the former Lanidex Plaza in Parsippany, PARQ is a distinctive, emerging multi-generational community that will encompass townhomes, multi-family residences, onsite retail, open green spaces, and state-of-the-art amenities.
Emcee Joe O’Neill welcomed an enthusiastic crowd filled with local and state officials, as well as businesses and media representatives from Parsippany and beyond. Anthony Milelli, Principal Director of PARQ, took to the podium to express how PARQ will instill a new sense of community and placemaking by celebrating the balance of health, happiness, and well-being. “Urban renewal and revitalization projects are vital to stimulate the economy, enhance property values and instill a sense of civic pride,” he said.
Back in the late 60s, PARQ was formerly known as Olson’s Farm prior to being rezoned as an office park called Lanidex Plaza that served Parsippany for many years, according to Robert Garafolo, Principal Attorney of PARQ. “But just like Olson’s Farm, Lanidex Plaza became less active and less vibrant, and the owners decided it needed to be redeveloped or repurposed,” Garafolo. “After some negotiation, we have since created PARQ Parsippany. Now and in the future, PARQ is going to be a very valuable, magnificent asset to the town of Parsippany.”
Haytham Haidar, Managing Director of PARQ, noted how this project will usher in a new era in Morris County. “PARQ will forge us into the 21st century with state-of-the-art facilities, vast and welcoming green spaces for the community to enjoy, a recreational complex open to residents and sports programs to utilize, and enhanced revenue as a result of the site’s modernization,” Haidar added.
The approved plan will be implemented in two phases, according to Haidar. The first phase includes Multi-Family Building 1, which features 275 multi-family residences, convenience retail, indoor and outdoor amenity space, and ample parking. It will also highlight 75 clustered courtyard townhomes with two-car garages. The townhomes will feature contemporary farmhouse-style architecture with access to a clubhouse and outdoor pool. Convenient, master-down home designs are also available. An athletic field, concession building, restrooms, and playground are also included in the first phase.
The second phase includes Multi-Family Building 2, which features 250 multi-family residences, convenience retail, indoor and outdoor amenity space, and ample parking. The residences will allow the Township of Parsippany to fulfill part of its state-mandated affordable housing obligations.
The two luxury multi-family buildings tout green design elements, as well as smart buildings and home features that promote wellness. These features include Energy Star® appliances and lighting fixtures; windows with Low-E coating; low flow water fixtures; programmable thermostats, and electric car charging stations in each building’s parking garage. Each multi-family building also features an elegant welcoming lobby with motor court drop-off; upscale club suite; private event room; children’s playroom; state-of-the-art fitness center; a resort-style pool with outdoor BBQ and lounging areas, and co-working alcoves.
PARQ will ensure physical spaces reflect community values. “The result will be a compelling neighborhood that will transform Parsippany into a place where people are conveniently connected by foot, bike, car, or public transport,” said Haidar.
Located near I-287 and I-80, PARQ residents can be at the Port Authority Bus Terminal in New York City in just over an hour via the NJ Transit® Parsippany-Troy Hills Park/Ride. For those who are up for more of an adventure, the world’s most admired cities are just hours away via Newark International Airport, John F. Kennedy International Airport, and LaGuardia Airport.
PARQ’s vision is for the revitalization to seamlessly integrate the design of the project into the existing fabric of the community. The transformation of the 23-acre portion of Lanidex Plaza will conclude in 2025. “This new, authentic neighborhood will be upscale, welcoming, and humble,” said Haidar. “At PARQ, the best is yet to come.”
The PARQ development team includes Garofalo O’Neill Ruggierio, LLC, Real Estate Law; Minno & Wasko, Architects and Planners; Design 446, Marketing and Advertising; Greystar Real Estate Partners; Sue Adler, Keller Williams Premier Properties; Langan Engineering & Environmental Services; Melillo + Bauer Associates, Landscape Architects, and Mary Cook Associates, Interior Design.