With a grand opening set to coincide with the start of the new year, pre-leasing has launched at Netherwood Flats in Plainfield.

Paramount Assets announced the kickoff for its mixed-use, transit-oriented development Dec. 6, with the official debut scheduled for Jan. 1, 2023.

Netherwood Flats, at 829 South Ave., is a four-story, 128,000-square-foot building with 70 apartments, 4,000 square feet of ground-floor retail space and an 84-spot parking deck. The collection of one- and two-bedroom units is a three-minute walk from the Netherwood NJ Transit rail station, offering service along the Raritan Valley line.

“Plainfield is at the leading edge of a revival that Netherwood Flats is helping to facilitate,” said Paramount Senior Vice President Rich Dunn in a statement. “Transit-oriented projects are very in-demand in suburban New Jersey and their success can revitalize an entire town.”

The effort in Union County is one of a number of such projects cropping up along rail lines in the state, with a $500 million development recently started in East Orange and nearly 150 units coming to Bound Brook, for instance.

“That’s what we are envisioning with Netherwood Flats – creating a lively community with luxury apartments and new retail shops for all residents in Plainfield,” Dunn continued.

Netherwood Flats features

• Kitchens with breakfast bars
• Artisan ceramic tiles in kitchens and baths
• Recessed lighting
• Hardwood floors
• Video intercom systems
• Pet-friendly units

The luxury Flats line currently has four other properties across Newark and in East Orange, with one additional Newark community on the way.

In Plainfield, residences will range from 624 square feet to 1,427 square feet and feature high-end finishes and stainless steel appliances. Occupancy for the project’s first phase will commence at the end of January, according to Paramount Assets, with the final phase slated for completion in March 2023.

A groundbreaking for Netherwood Flats was held in 2019. According to the Newark-based, family-owned real estate investment company, the project marks Paramount’s largest single investment in Plainfield.

Dunn commended the collaborative approach from the city.

“Netherwood Flats would not have come to fruition without the support of Mayor [Adrian] Mapp and the City Council,” he said in a statement. “They were truly visionaries regarding the redevelopment of the Netherwood section of the city.”

Elsewhere in the city, Paramount’s projects include: another forthcoming rail-proximate, mixed-use property currently being adaptively reused and redeveloped from a 54,000-square-foot, three-story retail building; approximately 75,000 square feet of in-line retail space along the East Front Street Central Business/Downtown Shopping District; and a 2.5-acre site within the Cleveland Avenue Arts & Culture District in the city’s Transit-Oriented Development District.

The pre-leasing period for Netherwood Flats lasts through Feb. 28, 2023, with specials available. More information is available on the community’s website, here.