Spotlight on Montclair and Belleville, NJ

Members of the Northern New Jersey RPN Mastermind Group were given a detailed preview of some of the exciting redevelopment projects transforming two of Northern New Jersey’s signature towns, Montclair and Belleville. Brian Stolar, founder and CEO of The Pinnacle Companies spotlighted two high-profile Montclair properties including Valley & Bloom, a mixed use luxury rental property that opened more than a year ago and quickly filled with new residents. Next, Brian provided a snapshot of the progress being made on Montclair’s first hotel since 1938. The exciting “MC Hotel” – a 160-room boutique hotel that’s part of the Marriott’s Autograph Collection – is scheduled to open this fall, followed by a rooftop restaurant with panoramic views opening in the Spring of 2019. Both properties were built on the former Jaguar dealership. Brian briefly touched on redevelopment sites at Lackawanna Plaza and the former Social Security building site opposite the Welmont Theater, both of which are prime for new development. Closer to Manhattan, there are plans to add a new luxury/lifestyle residential complex in Belleville, a community that only 50 years ago was considered farm country.

The group also discussed a number of new developments that are or will affect the residential market in Northern New Jersey – from the elimination of SALT tax deductions, to the changing market for luxury residential units in New Jersey, to new approaches affecting how people will live, work and commute.