CBD, in partnership with BNE, has completed municipal approvals to construct a 200-unit multifamily residential project, consisting of a five- story wood-frame building wrapping a four-level precast garage, situated in an affluent residential neighborhood just minutes from downtown Montclair and adjacent to a bus stop with service to midtown Manhattan. Canoe Brook’s history and valuable reputation within Verona Township made it the best- positioned sponsor to develop the site, which was awarded through an open-market process in which CBD was chosen despite not submitting the highest bid. This location will have significant demand from empty nesters and young families, and will include over 35,000 SF of indoor and outdoor amenities with spectacular views of the Manhattan skyline. The approved redevelopment plan includes the relocation of a school that currently occupies the site, with an anticipated construction start in July 2024.
