By John Burton
RED BANK – Those hoping to take up residence in the large West Side Lofts project currently under way in the borough’s west side won’t have much longer to wait.
“We’re steaming ahead,” said Stephen Santola, executive vice president and general counsel for Woodmont Properties, a principal in the large commercial and retail development project currently being built on the corner of West Front Street and Bridge Avenue. “We’re right on schedule.”
According to Santola, the project will start leasing residential units early this fall with tenants being able to move in maybe as early as the end of January or early February 2015.
The entire project is expected to be completed later in the year.
“Obviously, with 92 units, it takes a while to complete each unit,” he said.
“We haven’t begun really marketing yet other than some of the signs on the project, and we probably get between five and 10 calls a day from people who are interested,” Santola said.
As for the coat of the rentals, Santola said, “We’re still in the process of pricing the units.”
The developers already have compiled a list of “a couple thousand” interested in the residential units, he said.
“We’re working on a few retail leases at the moment,” Santola said.
Bur, he said he was “not at liberty to discuss any names … There has been some fairly significant retail interest in the property.”
On West Side Lofts, Woodmont Properties of Fairfield, is partnering with Metrovation/Terranomics, a Washington-based real estate development firm, which has such local holdings as The Grove and Grove West shopping centers in Shrewsbury, and Brook 35 Plaza shopping center in Sea Girt.
Previously announced for the site is Triumph Brew Pub, which will use roughly 10,510 square feet for its operation.
Metrovation is handling the retail leasing, Santola said.
On the construction front, “We’ve basically moved inside the building.”
Plans call for “skinning,” installing the building’s exterior later this fall, he said..
Workers have been making up for lost time since falling a little behind schedule due to last winter’s weather. With the remainder of the work being concentrated on the interiors, things are expected to proceed smoothly, Santola said.
On a large project like this, usually “getting started is the hardest part,” he said. “Once you get mobilized and really moving, everything falls into place.
“That’s what’s, fortunately, happened here,” he said.
West Side Lofts will have 92 one- and two-bedroom units, and three living/work loft spaces, along with retail/commercial space. The project also includes a 221-stall enclosed parking garage, all situated on an approximately 1.8-acre property in the heart of the borough’s arts and antiques district.
The developers and local officials have long touted the project as a significant step toward the redevelopment of the borough’s west side.
