The Siena at Montclair - PINNACLE DOWNTOWN AND KOHL PARTNERS RECEIVE APPROVALS FOR MONTCLAIR REDEVELOPMENT PROJECT

PINNACLE DOWNTOWN AND KOHL PARTNERS RECEIVE APPROVALS FOR MONTCLAIR REDEVELOPMENT PROJECT

HISTORIC MILESTONE FOR MONTCLAIR TOWN CENTER

MONTCLAIR, NJ, NOVEMBER 2, 2004 — Pinnacle Downtown and Kohl Partners, the two entities comprising the joint venture of Herod Development, as well as a number of Montclair Councilpersons, Parking Authority Commissioners and officials, including Mayor Ed Remsen, were on hand at the signing of a Redevelopment Agreement, giving the development team the green light to pursue redevelopment of the former Hahnes’ facility in the Town Center area of Montclair, New Jersey. This abandoned former retail store has sat vacant for nearly 15 years in the heart of one of Montclair’s bustling business districts. 

“We are very pleased to be announcing that finally the Hahnes building is coming down and a new world-class, mixed-use development is going up to anchor Montclair Town Center,” said Brian M. Stolar, president and CEO of Pinnacle Communities Ltd., the parent company of Pinnacle Downtown. “Having received redevelopment approval, we are set to embark on reinventing this prominent site, bringing an unparalleled multi-use facility to the town of Montclair. This milestone could not have been possible without the extraordinary support and teamwork exhibited by our partners at Kohl Partners, as well as the Mayor, Township Council, Parking Authority, and members of the Montclair business community. This is another great win for Pinnacle Downtown, but more importantly, for the residents and businesses of Montclair.” 

A joint venture between Pinnacle and Kohl Partners, the Hahnes redevelopment project is designed as a seven-story mixed-use building in the Montclair Town Center neighborhood. It will consist of approximately 38,500 square feet of retail space. In addition, 101 apartments are proposed, with 10 percent set aside for affordable units. A 132-vehicle, on-site residential parking lot is planned, and Pinnacle and Kohl are also managing the construction of and contributing to the cost of building a public parking deck for the town of Montclair, containing 430 spaces. The end result will add a distinctive retail and rental community to anchor Montclair’s exciting renaissance. Ground breaking on this first-class facility, is expected to take place within a month. 

“We’re extremely pleased to announce this milestone event in the history of Montclair,” stated Leonard Kohl of Kohl Partners. “Our development team has worked very hard to design this mixed-use endeavor to incorporate all of Montclair’s rich tradition, future needs and community character. Montclair Town Center will now be a source of pride this community can take bask in for many, many years to come.” 

Pinnacle Communities Ltd., which includes the Pinnacle Communities, Pinnacle Custom and Pinnacle Downtown divisions, is among the most respected real estate development and investment companies in the New Jersey and Connecticut markets.  The award-winning company has built an enviable reputation in custom and luxury housing, active adult, rental, office and retail markets. Since the company’s founding in 1984, Pinnacle has built in excess of 3,000-luxury attached and detached homes. Pinnacle Downtown is also developing the former Maxwell Coffee processing plant in Hoboken as Maxwell Place in conjunction with City Living by Toll Brothers. This landmark community will consist of approximately 830 residential homes and 200,000 square feet of retail/commercial space. 

For more information on Pinnacle, visit  www.pinnaclelimited.net or contact its Millburn headquarters at 973-379-1900.

 

Additional Pinnacle Websites :: Aurora Over the Hudson ::  Laduree ::  Mandalay On the Hudson ::  Pinnacle Communities :: 

© 2018 Pinnacle Companies, Inc. All rights reserved. *Herod Redevelopment 1 LLC. is a Pinnacle Companies and Kohl affiliate. Pursuant to N.J.A.C. 5:26-10.3, the purpose of this advertisement is to solicit non-binding reservations. The non-binding reservation is not a contract and may be cancelled by the prospective purchaser at any time, without cause and in the event of cancellation, the prospective purchaser shall receive a full refund of the deposit from the developer.
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