High Mountain Promenade Breaks Ground in North Haledon

• High Mountain Promenade at 987 Belmont Avenue, North Haledon, New Jersey, has broken ground on a new mixed-use development.
• The project will include 90 apartments, 596 self-storage units and 4,400 square feet of retail space.
• Tulfra Real Estate and The Hampshire Cos. are developing the project.
• First Bank provided construction financing, arranged by JLL.

What High Mountain Promenade Will Bring To North Haledon

Construction is underway on High Mountain Promenade, a new mixed-use development in North Haledon that will combine apartments, self-storage and retail space. The project is being developed through a partnership between Tulfra Real Estate and The Hampshire Cos., both New Jersey-based real estate groups. The development adds a combination of residential and commercial uses to the Northern New Jersey community.

What The Project Will Include

High Mountain Promenade will feature 90 apartments alongside a large self-storage facility with 596 units. The self-storage component will span approximately 74,715 square feet of gross space, making it the largest part of the development by area. The project will also include approximately 4,400 square feet of retail space, giving the development a neighborhood-serving commercial component in addition to its residential and storage uses.

What The Financing Means For The Development

First Bank provided construction financing for High Mountain Promenade, with JLL arranging the financing. The construction loan allows the partnership to move forward with the development following the project's groundbreaking. Financial terms of the construction financing were not disclosed in the provided announcement.

What The Partnership Is Building In Northern New Jersey

The project brings together Tulfra Real Estate and The Hampshire Cos. on a development that combines three different real estate uses within one project. The mix of 90 apartments, 596 self-storage units and 4,400 square feet of retail is designed to create a more diversified property rather than a single-use development. The project also adds new housing and commercial space while providing additional storage capacity for the surrounding North Haledon market.

What Comes Next For High Mountain Promenade

The groundbreaking marks the start of construction, but the development team has not announced a tentative completion date. As construction progresses, High Mountain Promenade will add new apartments, retail space and a substantial self-storage facility to North Haledon, further expanding the community's mix of residential and commercial properties.