Russo Development breaks ground on 280-unit apartment community
Kearny, NJ — Russo Development was joined by Kearny officials to break ground on Vermella West, a 280-unit apartment community in Kearny. Vermella West, located at 113 Passaic Ave., consists of four residential buildings and over 15,000 s/f of indoor and outdoor amenity spaces. The project is located in the Passaic Avenue Redevelopment Area and is adjacent to several new retail projects including a BJ’s anchored power center and other prominent retailers including Shop-Rite, LA Fitness, Sarku Japanese Restaurant and Carter’s. Vermella West is Russo’s second residential project in Kearny. Russo also developed Vermella Crossing, located at the intersection of Bergen and Schuyler Aves., which consists of 230 rental apartments and two retail pads currently leased to CVS and Investors Bank. The first phase of Vermella Crossing was completed in 2015 with a second phase scheduled for completion in early 2018. Russo also completed Saw Mill Park in Kearny, a 350,000s/f industrial project along Belleville Tpke. which is currently home to the Pepsico and HD Smith Wholesale Drug Company, “We are very pleased to break ground on another exciting project in the Town of Kearny,” said Michael Pembroke, executive vice president of Russo Development. “Kearny is a strong residential community with convenient access to major employment hubs in Newark, Jersey City, and New York, and Vermella West will provide new rental housing at a competitive price which is scarce in this area.” “Vermella West will advance the Town of Kearny’s vision to bring continued development and vibrancy to the Passaic Avenue Redevelopment Area which is along one of main corridors in our Town” said Mayor Alberto Santos. “The site was formerly occupied for industrial use however it had been vacant for several years, and this project is the result of proactive steps taken by Kearny in collaboration with Russo Development to encourage redevelopment of this area.” “Vermella translates into red, Russo Development’s signature color,” said Adam Pasternack, senior vice president of leasing and marketing at Russo Development. “Its meaning is much more expansive though, the Vermella brand stands for high quality construction, attention to detail, and passion for the way we design, build, and manage our communities.” “Distinguished among the wave of residential developments in northern New Jersey, Vermella signifies distinctive living experiences in urban locations which are competitively priced for a broad range of households seeking new housing,” according to Pasternack. “This project will continue the Vermella brand started by Russo Development in 2012 and will complement our other residential projects built or under construction in outstanding communities including Harrison, Lyndhurst, Kearny, Hackensack, Verona, Union Township, Garwood, and others.” Vermella West is scheduled for completion in the Fall of 2018.