Prism’s Multi-Family Adaptive Reuse Project Attracts Baby Boomers in Search of Secure, Maintenance-Free Living
BLOOMFIELD, N.J., Nov. 18, 2014 – After living for 33 years in a four-bedroom home in Nutley, Annie and Frank Costa were ready to make a change. Little did the couple know their desire for change eventually would take them to Parkway Lofts, Prism Capital Partners LLC’s benchmark industrial-to-residential adaptive reuse project in Bloomfield.
Since welcoming its first move-ins earlier this year, the luxury loft-style rental community has been attracting a steady number of downsizers and empty-nesters who, like the Costas, are trading in large suburban homes for the more simplified, maintenance-free lifestyle that apartment living provides.
Annie Costa, Office Manager at Pushcart Players in Verona, said she and Frank, an insurance broker in Jersey City, first noticed Parkway Lofts while the building was still under construction. “Two of our three children had grown and left home, and we were at a point in our lives where we wanted more freedom and less commitment to home maintenance tasks. We passed by Parkway Lofts many times while driving along the Garden State Parkway, and always thought it looked like a nice building. When we became serious about our apartment search, Parkway Lofts was at the top of the list,” she said.
Parkway Lofts has a reputation for making a strong first impression. Once inside the building, the decision to move to Parkway Lofts became an easy one for the Costas. “We were quickly sold; our apartment search basically started and ended that same day,” said Annie Costa. “The fact that this beautiful, modern building was repurposed from an older industrial site was impressive. We knew our apartment would be quiet, and everything in it would be brand new and beautiful.”
The Costas, who live with their daughter, Corinne, chose one of Parkway Lofts’ spacious two-bedroom apartments. “We love the flow and layout of our apartment, and there’s plenty of room for the three of us. Commuting convenience also is important for us, and Parkway Lofts’ location directly off the Garden State Parkway was hard to beat. It’s wonderful to be able to ‘lock and leave.’ If we want to go away, we can do so knowing everything will be taken care of while we are gone. Feeling safe and secure in our new apartment is priceless.”
A Premier Luxury Lifestyle
Brimming with historic charm and rich in visual appeal, Parkway Lofts is redefining luxury urban living. Prism redeveloped this landmark six-story warehouse building –originally built by the General Electric Co. in 1915 – into 361 beautifully appointed loft-style apartments. Apartments include a mix of spacious studio, one- and two-bedroom loft-style and duplex residences. Monthly rents start from the $1,700s.
Modern-classic apartments feature 17- and 12-foot ceilings soaring above exposed columns and beams; custom lighting fixtures; breathtaking views of the Manhattan skyline and Watchung Mountains from 13-foot insulated windows; designer kitchens with Quartz countertops, stainless-steel appliances, custom wood cabinetry and glass-tile backsplashes; and lavish bathrooms with ceramic-tile flooring and porcelain surrounds.
The Costas and other tenants have access to a wealth of exceptional on-site amenities and lifestyle conveniences, including a 24/7 attended lobby; a gracious rooftop deck with fire pit and ample comfortable seating; a 5,000-square-foot, two-level state-of-the-art fitness center; a 20-seat large-screen theater room; a private party and billiards room with a 14-foot bar, televisions and tufted banquettes; and a dog run. Among the community’s most exclusive amenities is a 24-hour resident-only convenience store, stocked with a selection of grocery basics such as milk, juice, bread, eggs, soda, fresh sandwiches, energy drinks, chips, protein bars, toiletry items and more.
Along with a washer/dryer in each apartment unit, residents have access to larger commercial-style laundry facilities and storage lockers on each floor. A secure parking garage and additional in-building and surface parking ensure ample vehicle accommodations for residents and their guests. NJ Transit’s Watsessing Avenue Station is located just 1,000 feet from the development, a convenience valued by commuters.
Parkway Lofts’ coveted central Essex County address is another benefit for residents of all ages. The community is located near museums, public golf courses, shopping centers, healthcare facilities, higher education and numerous dining options. The community is easily accessible to major roadways including the Garden State Parkway, New Jersey Turnpike, and routes 3 and 46, while Newark Liberty International Airport is less than 30 minutes away.
“While downsizing represents a significant lifestyle change for many of today’s Baby Boomers, it also comes with many benefits,” said Edwin Cohen, Prism’s principal partner. “Parkway Lofts has become an ideal choice for downsizers and retirees who desire a more simplified lifestyle but without sacrificing the luxury and comfort to which they have become accustomed.”
The Marketing Directors is the on-site leasing agent for Parkway Lofts. The leasing center is located at 5 Lawrence St. in Bloomfield, and is open daily from 10 a.m. to 6 p.m. No appointments are necessary. For more information, contact the leasing center at (201) 308-8200.