Luxe Mixed-Use Project Launches in Parsippany, N.J.

Construction is underway on a master-planned, mixed-use development in Morris County, N.J. When completed in 2025, The District at 15fifteen will include 60,000 square feet of high-end and local retailers, full- and quick-service restaurants, boutique fitness centers and specialty services, its backers say. (No retail tenants have been announced.)

The project, located about a 45-minute drive west from New York, is a joint venture of Stanbery Development Group, Claremont Development and PCCP LLC, with New York Life Insurance Co. providing its construction loan.

Located at 1515 Route 10 in Parsippany, N.J., the three-building, streetscape-style complex will be anchored by roughly 400 luxury apartments, along with 42 affordable units and 49 for residents 55 and over. The developers say the project will encourage community gatherings with year-round programming such as farmer’s markets, music in the park, food trucks and family movie nights.

“By bringing new job, commercial and housing opportunities to Parsippany, this exciting project takes a stagnant property and creates unique and vibrant possibilities that are part of the fabric making Parsippany one of the best places to live, work and play in New Jersey,” said Mayor James R. Barberio.

Marc Hays, Partner, Acquisitions and Leasing at Stanbery Development Group, said his company and the project’s other partners have seen the area around the development experience “an immense transformation with an influx of national retail, restaurant and hotel options aimed at serving both residents and the large daytime worker population in Morris County.”