WESTFIELD, NJ—Westfield, NJ, is the latest New Jersey municipality to gain a transit-oriented multifamily property, with the start of construction on The Hampshire Companies 70-unit luxury multifamily complex at 333 Central Avenue.

"We're excited to break ground and officially start developing the first transit-oriented, luxury community of its kind in Westfield," says Norman Feinstein, vice chairman of The Hampshire Companies. "We look forward to preserving the character that makes Westfield such a special place to live while drawing from its vibrant culture to create a community that compliments all that Westfield has to offer."

The development is one-tenth of a mile from Westfield's NJ Transit line with direct access to New York City. Hampshire is building the project with joint venture partner Claremont Companies and project investment advisor Circle Squared Alternative Investments.

"333 Central Avenue will come to serve as an example of how transit-oriented, multi-family communities can provide opportunities for non-urban towns to stay competitive with the generation of residents who want to work, live and play all within their communities," says Richard Sciaretta, Claremont Companies. "We are breaking the mold on what typical transit development means and creating something that is sustainable for suburban growth and attractive to a diverse population that wants easy access to retail and dining as well as mass transit access to urban centers of commerce like New York City and Newark."

Scheduled for completion in spring 2017, the four story, 126,340-square-foot community will feature one- or two-bedroom units ranging from 700 square feet to 1,550 square feet. Amenities include hardwood floors throughout, nine-foot ceilings, stainless steel appliances, granite countertops, and spacious walk-in closets. Community amenities include secure and covered parking, a lounge with a wet-bar for entertaining, a state-of-the art gym with a yoga room, a roof top lounge and ample additional storage units located on each floor.

"When you look at Westfield and all it has to offer from its central location, its vibrant downtown with dozens of restaurants and hundreds of retailers and couple that with direct access to New York City it's not hard to see why people love living here," says Jeffrey Sica, founder and president of Circle Squared Alternative Investments. "When Hampshire approaches us with projects as exciting as this one, it makes our job of finding accredited investors for the project much easier. My clients are always thrilled to be a part of something so transformative and Circle Squared is always proud to work with trusted partners like Hampshire and Claremont Companies."

Instant Insights /

Westfield's First TOD Starts Construction

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