Boston, MA – (April 12, 2016)
GID announced today the formation of a joint venture with BNE Real Estate Group to develop One William, a luxury multi-family asset in Englewood, New Jersey. One William will be located on a 2.4 acre site just south of Englewood’s bustling town center at the northeast corner of the Englewood Avenue and William Street intersection.
When completed, the project will be a five-story, 185 unit, mid-rise building with four residential levels above a podium parking garage. The property will feature an outdoor swimming pool and terrace, a clubroom, fitness center, children’s playroom, business center and landscaped courtyard. Unit finishes will include nine-foot ceilings, kitchens with quartz counter tops, under-mount sinks, tile backsplashes, stainless steel appliances and wood cabinets. Bathrooms will include quartz counter tops, ceramic flooring and tiled bath and tub surrounds. All units will be equipped with full size washers and dryers. The unit mix will consist of 48% one-bedrooms and 52% two-bedrooms with an overall average unit size of 939 square feet.
This transaction is the fourth joint venture between BNE and GID. Bill Chiasson, Senior Vice President of Real Estate Acquisitions for GID commented, “GID is glad to continue our relationship with BNE in the form of this development. GID is familiar with BNE’s product quality and professionalism. This provided an excellent opportunity to develop a luxury asset adjacent to a walkable downtown that provides a true competitive advantage over the marketplace. We look forward to growing this relationship to include more developments in the future.”