Tishman Construction, AECOM to Redevelop Residential Tower in Central NJ for $80M
- Oct 16, 2013
The Boraie Development L.L.C.’s Somerset Mews residential tower project in New Brunswick, N.J., moved forward this week with the announcement of Tishman Construction as the construction manager. The $80-million redevelopment sits adjacent to N.J. Transit’s New Brunswick train station and the city’s hospital corridor. Rutgers University is also nearby.
Following a groundbreaking last month, construction on the project is expected to be completed by the end of 2014. The project will transform the site into a 400,000-square-foot residential and retail tower with 16 stories consisting of 238 units, 8,000 square feet of retail space, and a four-story parking deck. Amenities will include a fitness center, outdoor space, and common-area space. Several private residences were demolished to clear the way for the project.
This is Boraie and Tishman’s second collaboration on a transit-oriented project in New Brunswick. The two parties completed the 25-story, 400,000-square-foot One Spring Street mixed-use tower in 2007. It was the tallest building in New Brunswick when it was completed.
“Tishman has proven to be a reliable, efficient and true business partner on our development programming,” said Hiam Boraie, vice president of marketing for Boraie in a news release. “We are excited to begin this second major construction initiative with them.”
Boraie, specializes in mixed-use, commercial, and residential development projects in New Jersey. A major area of focus for the developer is urban redevelopment. Somerset Mews is one of four New Brunswick residential projects to be awarded a state Urban Transit Tax Hub credit, a discount designed to encourage development around NJTransit rail stations.