Joint venture partners, LeCesse Development and MAS Development, have successfully secured funding for Vinty community in New Jersey. The duo received $97.3 million in financing for their newly completed 267-unit mixed-use development. However, JLL, a financial services company, arranged the senior floating-rate loan through an entity managed by Argentic Investment Management LLC.
Vinty community is located at 100 Union St. in an Opportunity Zone, and is conveniently located close to Elizabeth Station of New Jersey Transit where the Northeast Corridor and North Jersey Coast Line converge, providing easy access to job centers around the region.
The Vinty community puts residents just steps away from downtown Elizabeth’s main corridors, Broad Street and Morris Avenue. Union County College, Trinitas Regional Medical Center, and the Union County Courthouse are all located nearby, offering employment opportunities. The property is also situated approximately four miles from Westfield and Cranford, which offers charming downtown areas with shops and restaurants.
Featured amenities at the Vinty Community
- A fitness center
- A yoga/cycling studio
- A resort-style pool
- Outdoor summer kitchen
- Outdoor theater
- Community lounge
- Golf simulator
- Dog park
- Co-working zone
Vinty community comprises studio, one, and two-bedroom units alongside 32,272 square feet of ground-floor retail and commercial space. The unit interiors showcase quartz countertops, stainless steel appliances, in-unit washers and dryers, wooden flooring, spacious walk-in closets, and bathrooms in all units. The commercial component features a 3,315-square-foot food hall, an upscale private office/co-working space, and a Northfield Bank branch.
Michael Klein, Senior Managing Director at JLL, states that Vinty represents the first phase of a transformational placemaking community for the downtown Elizabeth region. Thus, residents, business owners, and the entire city will benefit from the development for years to come.
FAQ
Who secured funding for Vinty community?
LeCesse Development and MAS Development have secured funding for Vinty community.
What type of development is Vinty?
Vinty community is a mixed-use development consisting of 267-unit Class A apartment community alongside 32,272 square feet of ground-floor retail and commercial space.
What are the featured amenities at Vinty community?
Featured amenities at Vinty community include a fitness center, yoga/cycling studio, resort-style pool, outdoor summer kitchen, outdoor theater, community lounge, golf simulator, dog park, and co-working zone.
What is the unit interiors of Vinty community like?
The unit interiors showcase quartz countertops, stainless steel appliances, in-unit washers and dryers, wooden flooring, spacious walk-in closets, and bathrooms in all units.
What did Michael Klein say about Vinty community?
Michael Klein, Senior Managing Director at JLL, states that Vinty represents the first phase of a transformational placemaking community for the downtown Elizabeth region. Thus, residents, business owners, and the entire city will benefit from the development for years to come.
