Business & Tech
Groundbreaking Planned for Speedwell Luxury Apts
Phase I construction begins after Tuesday's groundbreaking ceremony.
In 2012, the Speedwell Redevelopment Plan was finally approved. In 2013, work on its first phase is is now beginning with a groundbreaking ceremony on Tuesday at 5:30 p.m. at 32 Early Street.
Mill Creek Residential purchased Phase I of the Speedwell Redevelopment project. This land purchase paves the way for (off of Speedwell Avenue). Latitude is designed to further enhance Morristown as a pedestrian-friendly, destination community. The project is the first large-scale residential development to be constructed in almost four years in Morristown.
Leading multifamily developer and investor Mill Creek Residential Trust will transform the site into a luxury apartment community, with a first phase comprising 268 studio, one-, two-, and three-bedroom upscale rental homes, with a 350-space parking garage incorporated into the structure, as well as a host of lifestyle amenities.
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Morristown Mayor Timothy P. Dougherty and Rich Murphy, Mill Creek Residential Managing Director will lead the ceremony.
A total of 26 deed-restricted, affordable rental apartments will be integrated into the community’s first phase. Initial occupancy for Latitude is planned to begin in 2014.
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Some of Latitude upscale features include:
- 9-foot ceilings
- walk-in closets, patios/balconies (in select residences)
- lofts (in select residences)
- washers and dryers in every apartment
- Contemporary kitchens with granite countertops and stainless steel energy-efficient appliances
- Bathrooms with spacious vanities and tubs with ceramic tile surrounds
Planned amenities for Latitude include:
- state-of-the-art fitness center outfitted for cardio, strength, spin and yoga
- a rooftop resort-style deck
- lounge with fireplace
- business center with computer stations
- a game room
- All parking spaces will be located within two levels of podium parking
Mill Creek Residential is also the designated redeveloper of the next two phases of the Speedwell Avenue Redevelopment Area, with the design of Phase II commencing in the very near future.
Related Patch Articles
- Speedwell Redevelopment Phase I Work Begins
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