Dive Brief:
- Fort Lee, New Jersey-based developer Unlmtd Real Estate has partnered with Italian automaker Fiat on an upcoming branded apartment development, Fiat House, which will be located at the foot of the George Washington Bridge in Fort Lee, with views of the Hudson River and New York City.
- Fiat House is set to offer more than 300 units ranging from studios to two bedrooms, including a number of furnished apartments, as well as 30,000 square feet of amenity spaces.
- Construction is well underway and the property is expected to open in early 2024, according to a press release, paralleling the North American launch of the Fiat 500e all-electric vehicle. A fleet of the cars will be available on site for residents to use through a car-sharing service.
Dive Insight:
Fiat is far from the first automaker to lend its name to branded residential developments in the U.S. The Porsche Design Tower Miami, developed by Sunny Isles Beach, Florida-based Dezer Development, opened in 2017. The Aston Martin Residences by Miami-based G&G Business Developments will open later this year and the Bentley Residences, also by Dezer, will open in 2026.
All three luxury condo towers are located in Miami, and the Porsche and Bentley buildings feature elevators to take renters’ cars to garages in their units.
The Fiat House exterior will feature tall windows with black borders in asymmetric arrangements. Fiat branding will be featured throughout the interior, including residential and amenity spaces, according to the press release. More details about the project will be available in early 2024, according to the development team.
The property site sits at the center of multiple major highways leading onto the George Washington Bridge, including I-95, U.S. Route 1/9 and U.S. 46. The Palisades Interstate Park is also located nearby, providing 30 miles of walking trails.
Beyond Fiat’s branded car-sharing plan, demand has risen across the board for electric vehicle infrastructure at multifamily properties. In a 2022 National Multifamily Housing Council survey, 27% of renters said they were interested in EV charging stations, and respondents said they would pay $28.12 more per month for them.
