Latest apartment building 'will set a new standard for luxury living in Bound Brook'
BOUND BROOK – Construction will soon begin on the latest apartment building going up downtown.
A groundbreaking ceremony was recently held for The Rail at Bound Brook, a 143-unit building on Hamilton Street at the site of the former strip mall that once housed a convenience store and later, the Salvation Army.
Construction is estimated to be completed in the third quarter of 2024.
The building, which will abut the Brook Art Center and is a block away from the train station, is being developed by Denholtz Properties, a Red Bank real estate development and investment company, and Redwood Real Estate Group, a fourth-generation privately held real estate investment company.
“We are excited to celebrate the first steps in writing the next chapter in Bound Brook’s impressive turnaround story,” Steven Denholtz, CEO of Denholtz Properties, said in a statement. “The Rail at Bound Brook’s unmatched location, meticulous design and impressive amenity package will set a new standard for luxury living in Bound Brook. We are confident that this investment will further embody our commitment to contributing to the revitalization of the neighborhoods we serve and help welcome new residents to experience all that Bound Brook and Somerset County have to offer.”
Denholtz Properties, which also owns the Bridgewater Business Park on Chimney Rock Road in Bridgewater, developed the Rail at Red Bank Station, a 57-unit apartment community a block from the train station in that Monmouth County community.
The Rail at Bound Brook will include a mix of studios, one-bedrooms, one-bedrooms plus dens, and two-bedrooms with extra-work-from-home space and outdoor balconies and terraces in select units. In addition, the six-story building will have amenities including a courtyard with outdoor grills and seating, an indoor fitness and yoga studio, a game room and bike storage.
The apartment building will be at the northern end of the proposed block-long pedestrian plaza on Hamilton Street between Main and Second streets that borough officials have seen as a major key to the continuing revitalization of downtown.
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The borough received a $1 million federal grant administered by the New Jersey Department of Transportation in partnership with the North Jersey Transportation Planning Authority to undertake the pedestrian plaza project.
Bound Brook is looking at the success that Somerville experienced transforming a block of Division Street from Main Street toward the train station into a pedestrian plaza.
The developers also will renovate the two-story Morecraft Building that separates the apartment building from the entrance to the Brook Arts Center.
In addition, the developers have agreed to improve the exterior of the three multifamily residences on the east side Hamilton Street north of the apartment building. The multifamily building next to the apartments served as Bound Brook's borough hall until the new facility was built two blocks away in the late 1980s.
Assigned parking spaces, with seven spaces for electric vehicles, will be on the ground floor with the apartments above. There also will be 44 spaces in a lot behind the theatre.
The developer also has agreed to lease 75 parking spaces from the borough in the commuter lot on Main Street at a cost of $105 per space per month for eight years. The developer also will set aside $480,000 for future parking needs in the borough.
There will be 650 square feet of retail space on the ground floor.
Minno & Wasko, of Lambertville, is the project architect.
Email: mdeak@mycentraljersey.com
Mike Deak is a reporter for mycentraljersey.com. To get unlimited access to his articles on Somerset and Hunterdon counties, please subscribe or activate your digital account.