Last week, developers and town officials gathered to break ground on the $225 million M Station Redevelopment project at the former Midtown Shopping Center site in Morristown, NJ. Now, construction begins on what is being called a “transformative” project for the town, the most significant commercial development in the decades.
The first part of the multi-phased project will be two mixed-used office and retail buildings on the five-acre site on Morris Street, between Lafayette Avenue and Spring Street. One building will be seven stories with 233,770 square feet of office space and 19,400 square feet of retail. The second building will have six stories and 118,900 square feet of office space and 10,130 square feet of retail. Plans call for large outdoor terraces on the top floor of each building.
M Station is expected to act as a connector between the town’s New Jersey Transit station and the Green and tenants are already signing on. Deloitte has agreed to move its Parsippany operations to 110,000 square-feet at M Station.
According to the project plans, there will be a promenade and public plaza, as well as a parking garage with 889 parking spaces and 33 surface spots. Other site improvements include landscaping, pedestrian improvements, road reconfiguration of Spring Place, and a new roundabout on Morris Street.’
Last month, the Morristown council approved a 30-year PILOT agreement between the developer and the town. The council also endorsed issuing up to $8.8 million bonds for the roundabout and other off-site improvements.