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The Bergen Chapter: A $164 Million Investment in New Jersey Living

Update The Bergen Chapter Poised to Transform Paramus The Bergen Chapter, a promising new development in Paramus, NJ, is about to change the landscape of the borough with a construction budget of $163.9 million. Facilitated by Cushman & Wakefield, this ambitious project will introduce 426 residential units and ground-level retail space right next to the bustling Bergen Town Center, a landmark shopping destination that attracts over 11 million visitors annually. This development is not just about housing; it is about integrating lifestyle and commerce in a way that enhances community life. Investment and Financing: A Collaborative Effort The financing for The Bergen Chapter comes as a joint venture between Kushner Real Estate Group (KRE) and Russo Development, marking a significant moment in the unfolding narrative of mixed-use developments across New Jersey. This venture acquired the site in 2025 and has partnered with PCCP to secure the necessary funding. The collaboration exemplifies a growing trend where developers are joining forces to take on large-scale projects that promise to redefine urban living. Why This Matters to New Jersey Residents This project is not just about building residential units; it represents a vital shift towards creating mixed-use destinations that blend living spaces with retail, which is increasingly sought after in urban environments. Nearly 15% of the apartments will be affordable units, underscoring a commitment to inclusivity in a region grappling with rising housing costs. As New Jersey continues to experience economic growth, initiatives like The Bergen Chapter aim to ensure that development benefits everyone, offering a diverse range of housing options that cater to varying income levels. Local Impact: Enhancing the Community Located strategically at Route 4 and Forest Avenue, The Bergen Chapter will cover 471,691 square feet on an eight-acre site. This includes not only housing but also dedicated electric vehicle charging infrastructure, a critical step towards sustainability and an eco-friendly transit option. With amenities such as fitness centers, landscaped courtyards, coworking spaces, and an outdoor pool, it prepares to cater to a modern lifestyle. This focus on comfort and convenience in living spaces speaks to the changing needs of residents seeking more than just a place to live; they want a holistic community experience that promotes well-being. Current Development Trends Across New Jersey The proposal mirrors a broader trend seen in New Jersey where developers are seeking to revitalize underutilized retail spaces. For example, Westfield Garden State Plaza plans to add 575 residential units to its site, while Kushner Cos. is busy transforming the former Monmouth Mall into Monmouth Square—an envisioned open-air destination that combines work, living space, and leisure. These shifts resonate with New Jersey’s residents who are increasingly looking for developments that seamlessly incorporate their lifestyle needs with everyday convenience. Experts Weigh In: Insights from Cushman & Wakefield John Alascio, executive vice chair at Cushman & Wakefield, noted, "The Bergen Chapter represents a growing trend among institutional developers who are proactively reimagining well-located retail assets as true mixed-use destinations." This speaks to a pivotal shift where retail spaces are not merely transactional but integrated with residential communities, offering holistic living experiences. As retail habits transform, developers are keen to respond to the demand for environments that support both shopping and community living. What Lies Ahead for The Bergen Chapter Construction is expected to commence soon, with continuous engagement from local stakeholders driving the project forward. The borough's administration is enthusiastic about this initiative, recognizing its potential to stimulate the local economy, provide jobs, and revitalize an area that attracts countless visitors. This sets the groundwork for similar initiatives that could reshape the region's demographic and economic landscape. For residents of Paramus and beyond, developments like The Bergen Chapter could herald new opportunities in terms of employment, accessibility, and social connectivity. Act Now! Stay informed on the upcoming developments in Paramus and other parts of New Jersey. As projects like The Bergen Chapter unfold, they are bound to influence various aspects of community life—from economy to environment. Engage with your community and local leaders to voice your thoughts on these transformative changes. Participating in community forums and discussions will not only keep you informed but also help shape the future of your neighborhood for the better.