Construction on a new 136-unit residential community in Bergen County is moving forward following the securement of a $42 million construction loan provided by Kearny Bank, officials announced Tuesday.
The 221,798-square-foot multifamily development will be located at 615 Winters Avenue. The project is being spearheaded by Fair Lawn-based developer Rock Solid Builders, expanding modern housing options within one of northern New Jersey’s primary commercial corridors.
Initial ground and soil improvements are already underway at the Winters Avenue site, with a projected full completion date slated for the spring of 2028.
“We’re pleased to help finance a project that will provide much-needed housing opportunities in one of New Jersey’s most vibrant communities,” Gary Brozowski, Kearny Bank’s director of Commercial Real Estate Lending, said. “Working with experienced developers like Rock Solid Builders, we’re committed to financing projects that strengthen communities throughout the Northeast.”
The construction loan was structured and originated by Jonathan Atkinson, Vice President of Commercial Real Estate Lending at Kearny Bank.
“This financing marks an important milestone for our team and reinforces our commitment to delivering thoughtfully designed communities that create long term value,” Rock Solid Builders President Vitali Feldman said. “We’re proud to bring much needed, high quality housing to Paramus and appreciate Kearny Bank’s confidence in our vision.”
