Hampshire unveils 70-unit rental building, as Allendale redevelopment plan comes to fruition

The Hampshire Cos. and RHO welcomed local officials and a project team to mark the opening of The Vale, a new 70-unit luxury apartment building at 220 West Crescent Ave. in Allendale. — Photos by Aaron Houston/Courtesy: Hampshire

By Joshua Burd

The Hampshire Cos. has completed a new 70-unit luxury apartment building in Allendale, marking the latest piece of a plan to revive a once-dormant industrial site.

The developer on Thursday joined borough officials to unveil the property at 220 West Crescent Ave., part of a 10-acre parcel less than two miles from Route 17. Known as The Vale, the collection of one- and two-bedroom homes is now leasing and is notable in that it has three units that are affordably priced and reserved for first responders, in addition to six others that will be marketed toward lower- and moderate-income renters.

Residents, meantime, will have access to a clubroom and lounge, a fitness center and a 9,460-square-foot outdoor courtyard.

“The completion of The Vale underscores our focus on serving as a trusted partner to municipalities, leveraging our experience to create spaces that truly meet the needs of their community,” said James E. Hanson II, CEO and president The Hampshire Cos. “By recognizing the untapped potential within these properties, we have created a hub for thriving businesses within Allendale while also establishing a place that residents can be proud to call home.”

The Vale at 220 West Crescent Ave. in Allendale

Designed by DMR Architects, The Vale is part of a site that once included two vacant industrial buildings. Borough officials in March 2019 appointed Hampshire as the site’s redeveloper, paving the way for a plan that included the renovation of an adjacent 114,000-square-foot warehouse at 230 West Crescent St. that was completed in 2021 and is now fully leased.

That plan also included the new apartment building, which faced delays due to the pandemic, supply chain challenges and the need for environmental remediation at the former mill complex. Hampshire, which tapped Terminal Construction Corp. as its contractor, said it navigated those challenges alongside multiple administrations in the borough, including those led by mayors Vincent Barra, Liz White and Amy E. Wilczynski.

The developer discussed clearing those hurdles during Thursday’s ribbon-cutting ceremony. It also highlighted the 10,000-square-foot community center that the borough is building next door, in a third piece of the redevelopment plan that is slated to open this fall.

Those on hand Thursday also included RHO, professionals from DMR, Langan and Terminal and executives with Ocean First Bank, the project’s lender.

“I am very happy to finally be at the ribbon-cutting for this project,” said Wilczynski, the borough’s current mayor. This was a long time coming with many turns and challenges along the way including COVID. The borough is very fortunate to be partnering with a company like Hampshire. They are a company with integrity and stood by us all these years and produced a great complex for Allendale.”

Hampshire noted that The Vale is less than a half-mile from downtown Allendale. Crestwood Park, a 71-acre park built around a lake with three beaches, and The Celery Farm, a 107-acre freshwater nature preserve, are both a short walk from the community, while residents have quick access to Interstate 287 and the Garden State Parkway as well as nearby mass transit options.

Hampshire leases 102,000 sq. ft. at newly acquired, updated Allendale building, brokers say

 

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Author: Joshua Burd