{"id":138103,"date":"2026-02-18T23:27:23","date_gmt":"2026-02-18T23:27:23","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ny\/138103\/"},"modified":"2026-02-18T23:27:23","modified_gmt":"2026-02-18T23:27:23","slug":"elizabeth-luxury-apartment-development-secures-80m-in-financing","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ny\/138103\/","title":{"rendered":"Elizabeth luxury apartment development secures $80M in financing"},"content":{"rendered":"<p class=\"article__paragraph article__paragraph--left\" id=\"WMQSZI7R7ZGYNEUT27OVDZX2CQ\"><a href=\"https:\/\/www.marchassociates.com\/ecco-apartments-in-elizabeth-nj\" target=\"_blank\" rel=\"nofollow noopener\" title=\"https:\/\/www.marchassociates.com\/ecco-apartments-in-elizabeth-nj\">ECCO, a 258-unit luxury multifamily development in Elizabeth<\/a>, has secured more than $80 million in construction financing, officials said Friday.<\/p>\n<p class=\"article__paragraph article__paragraph--left\" id=\"JPH4NFC7RRAF7JB3YBEUJSXKW4\">JLL Capital Markets secured $63.2 million construction financing from Bank OZK and $20.15 million mezzanine placement from global asset firm PGIM, according to a statement.<\/p>\n<p class=\"article__paragraph article__paragraph--left\" id=\"KO32M2MCZFGJJKM53XP4QYVUBM\">Construction is underway and the project is expected to be completed in 2027.<\/p>\n<p class=\"article__paragraph article__paragraph--left\" id=\"LBP5EQM72VHFBI4WKP27ZSURHI\">ECCO, located at 250 Union St., will feature 258 luxury rental units comprising studios, one- and two-bedroom apartments across 233,880 square feet of residential space.<\/p>\n<p class=\"article__paragraph article__paragraph--left\" id=\"UHY7F5CIURH3FOWS4CPSRNPS2E\">The five-story development will include wood-framed construction over a concrete parking podium with 278 parking spaces. <\/p>\n<p class=\"article__paragraph article__paragraph--left\" id=\"BURSMNK4DJHSRLUHPPKVGTZJFA\">Units feature quartz countertops, stainless steel appliances, in-unit washers and dryers, smart home technology and nine-foot ceilings. <\/p>\n<p class=\"article__paragraph article__paragraph--left\" id=\"OV5LDXH6UJD4HHLNVYJRNXEXJA\">Community amenities will encompass a resort-style pool, state-of-the-art fitness center, golf simulator, outdoor kitchen, business center, dog park and 3,200 square feet of ground-floor retail space.<\/p>\n<p class=\"article__paragraph article__paragraph--left\" id=\"NVQQKPC22RBHVGGKFBHBQTLEAM\">ECCO represents phase two of the broader Vintage City Development.<\/p>\n","protected":false},"excerpt":{"rendered":"ECCO, a 258-unit luxury multifamily development in Elizabeth, has secured more than $80 million in construction financing, officials&hellip;\n","protected":false},"author":2,"featured_media":138104,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[39],"tags":[9,24,63,134,136,135],"class_list":["post-138103","post","type-post","status-publish","format-standard","has-post-thumbnail","category-staten-island","tag-new-york","tag-new-york-city","tag-nyc","tag-staten-island","tag-staten-island-headlines","tag-staten-island-news"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/138103","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/comments?post=138103"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/138103\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/138104"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=138103"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=138103"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=138103"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}