(Read more on the multifamily market.)

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CRANFORD, NJ-Westminster Communities' Cranford Crossing, amixed-use transit village is set to officially open in June.Marketing began recently for its 50 luxury residential rentalunits, and the opening will also mark the start of operations ofthe project's 22,000-sf retail component.

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"The response has been gratifying," says Sam Gershwin, presidentof the Florham Park-based Westminster, which is part of KushnerCos. "It offers people the opportunity to live in town and walk toshops and restaurants," he says, adding that the project's retailportion is "more than half leased." Retail tenants include a Cosirestaurant and a Java's Brewin' coffee house.

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The project, with a reported price tag of $16 million, is thistown's first such mixed-use development in almost a century.Located next to the Cranford commuter train station, it's alsoadjacent to a new 310-space municipal parking garage built byWestminster as part of its deal with town officials. The garage wascompleted and opened in late 2006.

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Westminster took title to the site in early 2004 and startedactual construction late that year. The two-building complex,elevator buildings with brick facades, include the 20-unit EastBuilding, which company officials say is nearly completed, and the30-unit West Building, slated for completion later this summer.

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