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New York & Tri-State  + New Jersey  + Finance  | 

Parkview Lends on Redevelopment at Former Elizabeth Hospital

Parkview Financial  provided a $56-million construction loan to CMT Developers, LLC for the development of Phase I of Jersey Walk, a Class A apartment community located at 901 E. Jersey St. in Elizabeth, NJ. The 5.41-acre development is on the site of the long-vacant former Elizabeth General Hospital.

“CMT Developers is an experienced firm with a track record of success in mitigating issues with challenging sites,” said Paul Rahimian, president and CEO of Parkview Financial. “The company’s plan demonstrates a commitment to delivering this infill site to its highest and best use.”

Located near the major intersection of Jersey Street and Spring Street, the site is within walking distance of the Citi Grocer, the Elizabeth Avenue business district, the Elizabeth Train Station and other public transit options, as well as a number of retail and dining amenities.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Financing
  • ◦Development
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