Official Groundbreaking Ceremony for Highlands at Hilltop, Phase II

CenRose, the joint venture between JMP Holdings/Century 21 and Roseland Property Company, officially broke ground on Phase II of The Highlands at Hilltop. The ceremony took place Thursday on the grounds of the luxury rental apartment complex at the top of the new White Rock Road.

The actual groundbreaking and construction for Phase II of The Highlands at Hilltop practically began before Phase I was completed. Regardless of a struggling economy and uncertainty in the country’s political and financial future, Roseland Properties struck gold with The Highlands at Hilltop. Phase I almost instantly rented to full capacity. It is now 100 percent occupied which bodes well for Phase II.

“The sense of partnership and cooperation our development team has forged with the township of Verona has been extremely productive,” said Carl Goldberg, Partner at Roseland Property Company. “By working closely with the township and incorporating their input into the project, we were able to deliver a product to the marketplace that everyone could be proud of.  As we begin the build-out of Phase II, we will continue to proactively work together to complete this successful development.”

The new phase will consist of 130 one and two-bedroom rental residences, a 6,000 square-foot clubhouse with access to tennis and basketball courts.  Already existing at the community are 95 residences and a 4,700 square-foot clubhouse and outdoor pool.  The first phase was completed in May, 2010. 

Before the groundbreaking, Verona Township Manager, Joseph Martin, was pleased to comment, “Hilltop is the most important arrow in our financial quiver. Over the next 30 years, it will generate over one million dollars a year in payment in lieu of taxes, (PILOT) that will allow the current and future Council to make choices that are in the best interest of Verona.”

Roseland Property Company and JMP Holdings chose Verona for development because of its ideal location and the pent-up demand in the marketplace for rental communities that enable residents to live a convenient, amenity-laden lifestyle. The development team worked closely with the municipality to bring a quality new housing alternative to Verona and ensure all development was done responsibly.

Frank Sapienza, Verona Township Mayor, remarked, “This is truly a great project…we’re so proud to have a nice partnership and friendship with Carl Goldberg and the rest of his team. We are looking forward to seeing this to conclusion as well.”

The property is located at 200 White Rock Rd., off Bloomfield Ave., on the western border of Verona with North Caldwell.