Luxury apartments next to the Paramus Park mall are anticipated to open by the end of the year, the developer said.

The project by Carlstadt-based Russo Development, to be called Vermella Paramus, will bring two mixed-use buildings with 260 one- and two-bedroom apartments.

The complex would be the company’s fourth Bergen County development. A later phase is expected to add another 100 units next to Paramus Park.

Ron Simoncini, a spokesperson for the developer, said the project will open at the end of the year.

“Russo Development is thrilled to bring its Vermella luxury apartment brand to Paramus on From Road near the Paramus Park mall,” Edward Russo, the company’s CEO, said in a statement Thursday.

“Paramus is an ideal location, with easy access to transportation and a vibrant community filled with world-class shopping, dining, and entertainment. We are confident that Vermella Paramus will provide an unparalleled living experience for our residents, coupled with the ultimate convenience of the area.”

The project will also have 8,000 square feet of onsite retail space. It will be built adjacent to the mall and the new Valley Hospital, said a description on the company’s website.

In December 2023, the Paramus Planning Board approved a proposal by R&O Paramus, an affiliate of Russo Acquisitions and Russo Development, to build 360 apartments next to the mall, west of the Garden State Parkway.

The complex would be built on land north of the mall and on part of its parking lot, taking over about 60,000 square feet outside the Macy’s department store.

The project was meant to create “connectivity” between the new hospital, which opened last year, and an existing office complex on From Road, as well as pocket parks in the area and the four retail plazas that Russo plans to create, Diogo Santos, an R&O Paramus executive, said at a 2023 Paramus Planning Board hearing.

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