South Orange project celebrates opening

Real Estate Weekly, Jan 1, 2003

Gaslight Commons, an award-winning, 200-unit, luxury residential complex, celebrated its grand opening in South Orange, New Jersey.

LCOR Inc., the project's developer, joined local officials in cutting a ceremonial ribbon to formally launch the $34.5-million development, which is located at 28 Third St., a 4.7-acre site adjacent to the NJ Transit Sloan Street Railroad Station.

Gaslight Commons includes two four-story buildings totaling approximately 310,000 SF. The buildings, which surround interior courtyards, together consist of a total of 128 one-bedroom units ranging in size from 676 to 896 SF, and 72 two-bedroom units, ranging from 1,033 to 1,282 SF.

The property features an outdoor swimming pool with deck, clubhouse, fitness center with state-of-the-art exercise equipment and free weights, a putting green, concierge services, and indoor and outdoor parking at grade level.

Individual units include balconies and a wide range of amenities, such as wall-to-wall carpeting, free, high-speed Internet access, free 100channel DIRECTV, garbage disposal, frost-free refrigerator, central air conditioning, energy-efficient appliances and a full-size washer/dryer. Selected apartments offer fireplaces, vaulted ceilings, and a computer niche.

"Gaslight Commons sets a new standard for luxury rental development in the suburbs of New York City," said Anthony Marchetta, LCOR vice president.

"These well-appointed residences offer a comfortable lifestyle that strikes the perfect balance between convenience to Manhattan and the quiet pleasures of a small town."

New Jersey Future, an advocacy organization promoting responsible growth and development, presented its "2002 Smart Growth Award" to LCOR and the village of South Orange in June for creating the luxury residential development on the site of a former car dealership. The development was called "an example to communities across the state of what is possible through redevelopment and revitalization."

Gaslight Commons is located one half-hour's drive from the Holland and Lincoln Tunnels. Newark International Airport is 20 minutes away, and NJ Transit offers 30-minute Midtown Direct Service to Manhattan.