Modera Lofts celebrated their official opening with an event Tuesday evening alongside Jersey City officials. The event, two months after the first residents moved in, marked the complete redevelopment of the Butler Brothers warehouse in the Powerhouse Arts District.
“Modera Lofts speaks to the fact that preserving Jersey City’s historic aesthetic has always been a priority for our community,” said Jersey City Mayor Steven Fulop. “As Jersey City continues to grow, it’s increasingly important that we continue to embrace our past while building a stronger future.”
Developed by Mill Creek Residential, a leading multifamily developer, this project was their first foray into adaptive reuse.
“When we purchased the building in 2014, it became clear that craftsmanship and attention to detail would be paramount to making Modera Lofts a success,” said Richard Murphy, Mill Creek’s senior managing director of the Northeast division. “Mill Creek has always been committed to creating environments that complement the surrounding community and provide residents with a next-level lifestyle experience. Modera Lofts was no different.”
“From hiring expert masons to working with an on-site restoration specialist, we spared no expense to ensure that elements from the original warehouse echo throughout the entire building. We truly believe that’s what makes Modera Lofts unique, and the leasing success we’ve experienced is reflective of the effort put into the building over the past two years.”
In addition to celebrating the completion of the project, the event also announced that the building is 60% leased. According to a press release, Modera Lofts is outperforming leasing trends in Jersey City, validating the Mill Creek’s decision to preserve one of the Powerhouse Arts District’s most historic buildings.
Jersey Digs toured the 366-unit project both while it was under construction and just before the first residents moved in. You can catch up with those tours here:
[gmap height=”250px”]350 Warren St, Jersey City, NJ 07302[/gmap]
Modera Lofts – 350 Warren St, Jersey City, NJ 07302