Red Bank, N.J. (April 19, 2017) – Denholtz Associates has unveiled plans for The Rail @ Red Bank Station, a redevelopment project that will transform a 30,000-square-foot office building located at 116-118 Chestnut Street and an adjacent vacant lot at 101-107 Oakland Street into a transit-oriented mixed-use development in the heart of Red Bank, N.J. Denholtz Associates recently acquired the property and vacant parcel of land from 120 Centennial Properties, LP in a joint venture with MB1, LLC.
Adjacent to the Red Bank train station on New Jersey Transit’s Jersey Coast Line with direct service to New York City and Hoboken, The Rail @ Red Bank Station will mark a dynamic repositioning of the property providing an opportunity for Red Bank to stay competitive with the generation of residents who want to work, live and play all within their communities. Designed by renowned architect Jim Monteforte, the two-phase project will include 45 new luxury residential units and a complete renovation of the existing office property to create a modern and unique workspace that will attract employees and tenants alike.
The planned luxury multi-family community will consist of two, three-story towers with a contemporary, upscale look totaling 45 rental units. Ranging from 1-3 bedroom apartments each will include a 70-square-foot balcony. A two-level onsite parking garage will provide access to Chestnut Street and Oakland Street. An open-air courtyard with turf and seating areas will be constructed between the towers to offer residents an opportunity to unwind and socialize with their neighbors. A café is also planned at the property offering convenient food service for those on-the-go. The location is also within walking distance of a wide array of dining, shopping and entertainment options in downtown Red Bank. The Rail @ Red Bank Station will offer future residents of all generations an easily accessible and modern living experience.
“We have been planning our Red Bank project for quite some time and the purchase of the office building and adjacent land parcel opens up an exciting new chapter for Denholtz Associates,” said Steven Denholtz, CEO of Denholtz Associates. “We have always pursued projects that, not only add value to our portfolios, but also contribute in a positive and lasting way to the communities where they are located. We are looking forward to enthusiastically beginning work on The Rail @ Red Bank Station and creating a place that offers residents access to all that Red Bank has to offer from dining and shopping to theater and the arts just outside their doorstep.”
The renovation of the commercial building is expected to be completed later this year. Residential construction is slated to start this fall with an estimated completion in late 2018.