Groundbreaking Of 'Upscale' PARQ Advances Hopes To Revitalize Part Of Parsippany

PARSIPPANY, NJ — A new chapter for Parsippany began Thursday with the groundbreaking of PARQ. The property will encompass 75 townhomes, hundreds of multi-family residences, retail, green spaces and amenities, which developers hope will revitalize the area once home to the Lanidex Plaza.

Developers expect to complete the 23-acre transformation in 2025. In the late 1960s, PARQ was known as Olson's Farm, before getting rezoned as office park Lanidex Plaza.

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"But just like Olson's Farm, Lanidex Plaza became less active and less vibrant," said PARQ principal attorney Robert Garafolo, "and the owners decided it needed to be redeveloped or repurposed."

The approved plan will get implemented in two phases. The first will include Multi-Family Building 1, which will feature 275 multi-family units, convenience retail, indoor and outdoor amenity space and ample parking. The phase will also bring 75 clustered courtyard townhomes with two-car garages.

The townhomes will feature farmhouse-style architecture, with access to a clubhouse and outdoor pool. The first phase also includes the construction of an athletic field, concession building, restrooms and a playground.

Phase 2 will feature Multi-Family Building 2, which will have 250 multi-family units and similar features to the other multi-family building. The homes will help Parsippany meet its affordable-housing mandate.

"This new, authentic neighborhood will be upscale, welcoming and humble," said Haytham Haider, PARQ's managing director. "At PARQ, the best is yet to come."

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