(Read more on the multifamily market.)
HOBOKEN, NJ-The JDA Group has started construction for theLexington, a five-story luxury rental apartment complex that willbring a nearly 50 new units to the market. Those units are slatedfor delivery in March 2008. Cost of constructing the project hasnot been released.
Located on 10 lots at Seventh and Adams streets here, theLexington's site plan calls for one building to occupy the northernhalf of the 600 block of Adams Street, containing a total of 40two-bedroom residences. The second building will occupy thenorthern quarter of the 600 block of Grand Street, offering eightone- and two-bedroom residences. The two buildings have beendesigned to mesh with the surrounding historic architecture,according to Gregory DellAquila, vice president of the locallybased JDA Group.
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