Work on a new luxury rental community is underway in Morris County.

Kushner Real Estate Group announced April 5 it broke ground on the 239-unit Valley View Park coming to East Hanover.

Bridgewater-based KRE Group said the latest addition to its “Garden Collection” – located just off Deforest Avenue – will consist of five four-story buildings with a mix of one- and two-bedroom residences in addition to a limited offering of three-bedroom homes in select structures. Thirty-four rental residences will be reserved for low- and moderate-income residents.

“We’re excited to enter the East Hanover market and look forward to delivering a high-quality residential development to this well-located and desirable suburban community,” KRE Group President Jonathan Kushner said in a statement. “In supply-constrained markets like many towns in Morris County, new rental communities such as this one play an important role in both attracting new residents and retaining existing residents, with a modern housing and lifestyle option at an attractive price point.”

According to the 2022 Morris County Development Activity Report, new applications for multifamily properties continued to be strong last year, with a cumulatively proposed 1,902 units across 24 applications, most of which were for luxury rental units with some affordable residences set aside. The increase is expected, according to the report, as municipalities strive to meet local affordable housing mandates. But, while 2022’s unit count was the third highest in the past 10 years, according to the report, it was well under the 3,752 units reviewed in 2021 and the 3,244 units considered in 2020.

According to Morris County, just under half of site plans reviewed in 2022 were proposed with 100 units or more. Development in the market, the report said, continues to be driven by the newly single demographic in addition to millennials and baby boomers.

Valley View Park will offer a central clubhouse with lifestyle amenities, including a community great room, party room with fireplace, fitness center, yoga room and children’s playroom. Outdoors, residents will have access to a swimming pool, covered loggia with fireplace, three season relaxation area; grills, dining areas and a bar; televisions; firepits; a gaming lawn; community garden; dog park; children’s play area; and a community walking trail with overlook, KRE Group said.

An expected delivery date for the project was not immediately available.

KRE Group’s Garden Collection includes more than a dozen rental communities in the tri-state area. Among the firm’s recent projects are Journal Squared in Jersey City, three towers with 1,838 units and 36,000 square feet of retail and restaurant space, and Rock Pointe residences in Rockaway Township.

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