PARSIPPANY — The ground-breaking ceremony for the District at 15fifteen mixed-use development along Route 10 marks an important milestone in the project. It signifies the official start of construction and indicates that the development is moving forward.
The project replaces two defunct office buildings, the former Intel Corporate Center. The buildings encompass 288,742 vacant square feet just west of Route 287. The buildings were purchased by Stanbery in 2015.
“District at 15fifteen” is a joint venture of Stanbery Development Group, Claremont Development, and PCCP, LLC has broken ground on The District at 15fifteen, a master-planned, mixed-use development in the heart of Morris County. New York Life Insurance Company is providing the construction loan for the project.
Located at 1515 Route 10, The District at 15fifteen will feature approximately 60,000 square feet of high-end and local retailers, full and quick-service restaurants, boutique fitness and specialty services, and a 498-unit luxury apartment community. The three-building, streetscape-style complex will serve as a one-of-a-kind destination that encourages community gatherings with year-round programmings such as farmer’s markets, music in the park, food trucks, and family movie nights.
“By bringing new job, commercial, and housing opportunities to Parsippany, this exciting project takes a stagnant property and creates unique and vibrant possibilities that are part of the fabric making Parsippany one of the best places to live, work, and play in New Jersey,” said Parsippany-Troy Hills Mayor James R. Barberio.
The District at 15fifteen will feature 498 thoughtfully designed luxury rental homes, including 42 affordable and 49 age-restricted units for residents 55 and over. Spread across two buildings and comprising a mix of studio, one- and two-bedroom units, phase one will be a four-story, wood-framed building with two exterior courtyards, and phase two will be a five-story, wood-framed building wrapping an 853-space parking deck with one exterior courtyard. An additional 209 surface parking spaces will also be available with the option of valet parking. Both areas will serve the entire development, offering residents, retail customers, and visitors easy access.
The District at 15fifteen will feature high-end interior finishes and amenitized common spaces tailored to the work-from-home lifestyle. Residents will enjoy access to a full suite of resort-style, modern amenities, including a fitness center, yoga studio, pool, lounge area, conference center, co-working/work-from-home options, and dog spa. The 49 age-restricted units will also have access to their private lobby and amenities, including a fitness center, co-working area, party room, and roof deck.
“Over the last several years, we have seen Parsippany, and specifically the stretch of Route 10 between Interstate 287 and Route 202, experience an immense transformation with an influx of national retail, restaurant, and hotel options aimed at serving both residents and the large daytime worker population in Morris County,” said Marc Hays, Partner, Acquisitions, and Leasing at Stanbery Development Group. “We, alongside our partners at Claremont Development and PCCP, saw an opportunity to cater to that growing need and anchor this bustling section of the Route 10 corridor with not only a high-quality, mixed-use environment but a new, vibrant town center that cannot be found anywhere else in the region.”
The “pedestrian first” town center design of The District at 15fifteen will provide access for vehicles as well as pedestrian crosswalks that create a livable and walkable design for locals, visitors, and the tens of thousands of workers whose headquarters and offices can be found in the area, including Wyndham Worldwide, Avis/Budget Group, Tiffany & Co. and Zoetis, among others.
“As young working professionals continue to seek accommodations in nearby urban centers, suburban-based companies have been challenged with attracting and retaining a talented workforce,” said Maximilian Dorne, Partner at Claremont Development. “The District at 15fifteen will provide the amenities and modern living options millennials crave and serve as a significant tool for attracting and retaining a qualified pool of employees and employers in Parsippany and the surrounding area. The ability to seamlessly walk to the community’s commercial core for a cup of coffee, morning yoga class, business lunch, or dinner and drinks with friends caters to this group and the active lifestyles of 55 and older residents. The District at 15fifteen has something for everyone.”
The District at 15fifteen has been approved by the New Jersey Department of Transportation to complete roadway improvements that will enhance vehicular circulation to both Route 10 East and West, as well as provide a tie-in to the Dryden Way jug handle. The road improvement will directly connect to the Dryden Way ramps at Route 10 and to the office park immediately across Route 10, formerly known as the Mack-Cali office park, without hitting a traffic light. The direct connection will provide a regional benefit by removing vehicle trips through the intersection of Route 10 and Route 202 while opening an alternative point of access for several other commercial properties.
Parsippany-Troy Hills Mayor James Barberio; Council President Loretta Gragnani; Council Vice President Michael dePierro; Morris County Commissioner Director John Krickus; Morris County Commissioner Deputy Director Christine Myers, Parsippany Economic Development Chairman Frank Cahill; Parsippany Economic Development Vice Chairman Dr. Bhagirath Maheta; Parsippany Economic Development Secretary Raj Dichpally; President & CEO Morris County Chamber of Commerce Meghan Hunscher; President Morris County Economic Development Alliance Craig Schlosser; Director of Business Resources Morris County EDC – Executive Director Ed Ramirez; Board Member Parsippany Area Chamber of Commerce Nicolas Limanov; Former Parsippany Business Administrator Ellen Sandman; and Parsippany Economic Development members Adam Kandil, Scott Donnelly, Drew Blind, Michael Pulsinelli, Nick Rafanello, and Jigar Shah. Also in attendance was Parsippany High School Intern Tejas Kommuri.
The first move-ins are slated for Fall 2024, with the retail and restaurant portions slated for completion in Fall 2025.
To learn more about The District at 15fifteen, click here.
