JV Breaks Ground on Townhouse-Style Apartments in Central Morris County
A joint venture between CrownPoint Group Inc. and Crossroads Companies has broken ground on a townhouse-style apartment development located in Randolph, NJ, which will feature 125 luxury homes. The community, known as Liberty Village, is located along an emerging town center at the intersection of West Hanover Avenue and Sussex Turnpike in central Morris County.
Liberty Village will include 100 market-rate homes and 25 age-restricted affordable apartments, all with luxury appointments, according to the JV. The majority of units will feature bi-level living, coffered ceilings in primary bedrooms and open-concept designs with high-end finishes, along with private-entrance garages.
“At a time when most rental options are limited to traditional apartment living, we are delivering something truly unique—spacious townhomes that combine the privacy, comfort, and character of a single-family home with the convenience and flexibility of modern rental living,” said CrownPoint VP Michael Legacki. “With demand for high-quality housing at an all-time high, this project represents an exciting development for residents who want the best of both worlds.”
The partnership secured construction financing from Berkshire Bank and raised the project equity through their network of private investors.
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout