November 20, 2019
Real estate investment firm Paramount Assets recently broke ground on Netherwood Flats, a new mixed-use development in Plainfield, NJ. The four-story property will comprise 70 luxury apartment units, 4,000 square feet of ground-floor retail and underground parking.
The transit-oriented development is just steps away from NJ Transit’s Netherwood train station. It’s slated for delivery in spring 2021.
Netherwood Flats’ groundbreaking was attended by more than 100 guests, including Mayor Adrian O. Mapp, Plainfield City Council members and other city administration officials; Paramount Assets employees; and members of the general public.
“Netherwood Flats symbolizes an exciting new chapter in this neighborhood’s ongoing redevelopment,” said Richard Dunn, SVP of Elizabeth, NJ-based Paramount. “Our goal for this ground-up project is to create a mixed-use destination that elevates the City’s appeal while honoring its unique character. We’re thrilled to work in conjunction with Mayor Mapp and his administration to bring this vision to life.”
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