New Jersey’s Gold Coast is one step closer to having another brand-new, modern apartment complex.
On Aug. 23, Cypress Equity Investments announced the groundbreaking of Avenue G, a 354-residence apartment complex in Bayonne.
The new development, which is adjacent to CEI’s recently completed, 180-residence Edge apartment community, is the first joint venture between the developer, headquartered in Dallas, and New York-based Winter Properties.
Located at 101-143 E. 22nd St., Avenue G will offer high-design apartments near the Hudson-Bergen 22nd Street Light Rail Station and Bayonne Crossing shopping mall.
“As we looked for opportunities in the greater New York/New Jersey region, Bayonne stood out as an optimal blend of a quiet suburban lifestyle with easy access to the high-energy urban centers of Jersey City and Manhattan,” Alla Sorochinsky, CEI chief financial officer, said in a statement.
“Further, the enthusiastic response we’ve received to Edge led us to capitalize on the opportunity to develop this larger apartment community next door,” Sorochinsky added.
Features and amenities
Avenue G — expected to be complete in the second half of 2024 — is a transit-oriented development and will feature sustainable elements throughout, including high-efficiency glass and insulation, electric-vehicle charging stations, central ducted HVAC, and smart access controls.
Interior features will include gourmet kitchens with quartz countertops, contemporary tile backsplashes, stainless-steel appliances, en suite bathrooms, in-unit washers and dryers and walk-in closets.
Avenue G’s amenities will include a full-service fitness center, two private courtyards with lounge seating, fire pits, outdoor barbecues, a multipurpose club room with adjacent outdoor entertainment spaces, communal co-working areas and private offices with WiFi.
The complex was designed by Minno & Wasko Architects and Planners, which has offices in Lambertville and Newark.
“We launched our joint venture with CEI last year with a vision to deliver innovative and sustainable multifamily housing to cities across the U.S.,” said Winter President Rick Singer. “Avenue G is an incredible first step for this partnership, and we’re excited to enter an urban market with such great potential for growth.”
Additional team members include landscape architect Dynamic Engineering of Lake Como and general contractor ARC Building Partners.
To date, CEI has completed more than 9,000 apartment residences and, by leveraging its partnership with Winter Properties, the firm anticipates growing from $1 billion to $1.5 billion in ground-up development annually.
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