The Connell Company Celebrates Topping Out of Luxury Residential Tower at The Park in Berkeley Heights
BERKELEY HEIGHTS, N.J., July 14, 2025 /PRNewswire/ -- The Connell Company, one of the largest diversified, privately held corporations in the U.S., hosted a Topping Out ceremony on July 10th to celebrate the structure completion of RT500, an eleven-story tower which will comprise of 179 apartment units. The tower, which will be one of two at The Park under the Round Table (RT) Residences brand, will feature a wide range of resort-style amenities including an outdoor pool, entertainment lounge, game room, state-of-the-art fitness center and more.
Designed by Minno & Wasko Architects and Planners in collaboration with David M. Sullivan Inc., each residence will showcase modern finishes and neutral, calming tones with floor to ceiling windows, contemporary quartz countertops and wood plank flooring. The tower will also feature a fitness center, a game room with multi-sport simulator, pool table and ping pong table, as well as co-working and outdoor lounges. In addition to the amenities within the building, residents will also have access to the broader community that is taking shape at The Park, which will include new restaurants, entertainment and lifestyle spaces.
"We're thrilled to take steps closer to bringing our vision of what The Park could be to reality and we are truly excited for the momentum that we're continuing to build here," said Shane Connell, Executive Vice President of The Connell Company. "Our RT Residence towers are an important piece of the larger community we are building at The Park and I'm immensely proud of our dedicated team and the progress we're making."
Dubbed by many as New Jersey's first "work resort," The Park is already home to 1.5 million square feet of Class A offices that host companies such as Samsung, L'Oreal, and Aon, as well as a 176-room Embassy Suites hotel, FIELDHOUSE, a luxury fitness and wellness facility, Grain & Cane Restaurant, Starbucks, Lifetime Fitness, outdoor walking and jogging trails, and its signature co-working social club called Round Table Studios.
"RT Residences is truly something special and it is exciting to reach this step within The Park's redevelopment project. There's strong demand for hospitality-driven residential buildings like this—especially supported by a thoughtful mix of culinary experiences, green space, and retail, all within a vibrant, walkable community that is coming together at The Park," said John Dionis, Managing Director of Real Estate and Development at The Connell Company.
RT500 is slated to open Summer 2026 and will begin leasing early next year. To learn more about The Park and stay informed on upcoming updates and leasing opportunities, please visit: https://www.theparkatnj.com/residences
About The ParkThe Park, formerly known as Connell Corporate Park, is undergoing a $500 million repositioning to bring an urban energy and community to the suburbs. The Park is situated on a walkable, 185-acre campus with a 176-room Embassy Suites Hotel, 112,000 square foot Lifetime Fitness center and over 1.5 million square feet of work resort offices, flexible workspaces and collaborative lounges all anchored by a hospitality, culinary, and wellness culture. The Park is currently adding The District at The Park, which will include 328 apartments and 185,000 square feet of restaurants, entertainment, and retail concepts, bringing the whole campus together into one vibrant destination. To learn more about The Park, please visit: https://theparkatnj.com/
About The Connell CompanyThe Connell Company, founded in 1926, is one of the largest diversified, privately held corporations in the United States. Since its inception, there have been five generations of the Connell family owning and involved in the business. Over its 99 years in business, Connell has evolved from a commodities-based organization to a real estate and finance-based firm. To learn more about The Connell Company, please visit: https://connellco.com/
View original content to download multimedia:https://www.prnewswire.com/news-releases/the-connell-company-celebrates-topping-out-of-luxury-residential-tower-at-the-park-in-berkeley-heights-302503730.html
SOURCE The Connell Company
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles

Associated Press
16 minutes ago
- Associated Press
Tesla's Autopilot system is in the spotlight at a Miami trial over a student killed while stargazing
NEW YORK (AP) — A rare trial against Elon Musk's car company began Monday in Miami where a jury will decide if it is partly to blame for the death of a stargazing university student after a runaway Tesla sent her flying 75 feet through the air and severely injured her boyfriend. Lawyers for the plaintiff argue that Tesla's driver-assistance feature called Autopilot should have warned the driver and braked when his Model S sedan blew through flashing red lights, a stop sign and a T-intersection at nearly 70 miles an hour in the April 2019 crash. Tesla lays the blame solely on the driver, who was reaching for a dropped cell phone. 'The evidence clearly shows that this crash had nothing to do with Tesla's Autopilot technology,' Tesla said in a statement. 'Instead, like so many unfortunate accidents since cellphones were invented, this was caused by a distracted driver.' The driver, George McGee, was sued separately by the plaintiffs. That case was settled. A judgement against Tesla could be especially damaging as the company works to convince the public its self-driving technology is safe during a planned rollout of hundreds of thousands of Tesla robotaxis on U.S. roads by the end of next year. A jury trial is rare for the company, which often settles lawsuits, and this one is rarer yet because a judge recently ruled that the family of the stricken Naibel Benavides Leon can argue for punitive damages. The judge, Beth Bloom of the U.S. District Court for the Southern District of Florida, issued a partial summary judgement last month, throwing out charges of defective manufacturing and negligent misrepresentation against Tesla. But she also ruled plaintiffs could argue other claims that would make the company liable and ask for punitive damages, which could prove costly. 'A reasonable jury could find that Tesla acted in reckless disregard of human life for the sake of developing their product and maximizing profit,' Bloom said in a filing. The 2021 lawsuit alleges the driver relied on Autopilot to reduce speed or come to a stop when it detected objects in its way, including a parked Chevrolet Tahoe that Benavides and her boyfriend, Dillon Angulo, had gotten out of near Key West, Florida, to look up at the sky. The Tesla rammed the Tahoe at highway speeds, causing it to rotate and slam into Benavides, tossing her into a wooded area and killing her. In legal documents, Tesla denied nearly all of the lawsuit's allegations and said it expects that consumers will follow warnings in the vehicle and instructions in the owners' manual, as well as comply with driving laws. Tesla warns owners in manuals that its cars cannot drive themselves and they need to be ready to intervene at all times. —— Former AP auto writer Krisher reported from Detroit.
Yahoo
16 minutes ago
- Yahoo
'We Were Not Planning On This Kind Of Expenditure At This Point In Our Lives,' How These Parents Are Dealing With Their 'Boomerang Kid'
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Two parents from Sherman Oaks, California, moved their 24-year-old daughter back into the family home in early 2024. In their mid-60s, the parents, who asked to remain anonymous when speaking to CNBC, expected that they'd be closing in on retirement at this point in their lives. Instead, they're canceling vacations and delaying retirement in order to accommodate their daughter's $5,000 a month living expenses. "We were not planning on this kind of expenditure at this point of our lives," the mother told CNBC. "The reason we do it is because we don't want to see her on the street." The family isn't alone in having their plans upended by the unexpected return of an adult child. The phenomenon, which experts have termed "boomerang kids," has been steadily growing over the last few years. Don't Miss: In terms of getting money back, . Warren Buffett once said, "If you don't find a way to make money while you sleep, you will work until you die." A Thrivent study on boomerang kids released in 2025 found that 46% of parents report that their adult children, ages 18-35, have moved back home at some point. The reasons for these moves vary from economic factors like debt, stagnant wages, and rising housing costs to personal factors like divorce or illness. While many parents say they are happy to provide a safety net for their children, there's also recognition that it often has a significant and negative impact on their own finances. According to the survey, 38% of boomerang parents say that having their children move back in has impacted their ability to save for long-term goals like retirement. The Sherman Oaks parents say they are feeling that pinch, to the point that it has caused tension in their relationship with their daughter. So they've turned to parenting coach Kim Muench for help navigating their new situation. Trending: Named a TIME Best Invention and Backed by 5,000+ Users, Kara's Air-to-Water Pod Cuts Plastic and Costs — The move is a great first step in healing the rifts that boomerang situations can create, Muench told CNBC. "Parents sometimes hesitate to get help for themselves and invest in their health ... because they're already spending more than they would like to support their adult or emerging adult children," she says. Ultimately, though, Muench says open and honest conversations about money and timelines are the only way to ensure the familial bonds won't be permanently affected by a return home. She suggests starting with small financial boundaries, like asking your child to contribute towards a bill or put a set amount of money away in a savings account to mimic paying rent. "When their son or daughter is not taking [financial responsibility] on incrementally, [parents] actually get very worried that they will be financially providing for the rest of their lives," Muench told CNBC. "It takes consistent conversations, because it's probably not going to happen in the first conversation," she continued. "And it takes an emotional maturity level on both the parents and the emerging adult side to figure out how they can work together." Read Next: Maximize saving for your retirement and cut down on taxes: . With Point, you can Image: Shutterstock This article 'We Were Not Planning On This Kind Of Expenditure At This Point In Our Lives,' How These Parents Are Dealing With Their 'Boomerang Kid' originally appeared on
Yahoo
19 minutes ago
- Yahoo
Fed Chair Powell's finally fighting back as the White House looks to fire him "for cause"
Federal Reserve Chairman Jerome Powell may finally have had enough of the White House's pressure campaign to have him either slash rates or resign. For months, Powell has resisted reacting to constant public berating from President Donald Trump, but the final straw may have come last week when White House advisers alleged Powell either lied to Congress about the Fed's headquarters renovation or grossly mismanaged it. Either of those, if proven true, could give Trump cover to fire Powell 'for cause.' Powell and the Fed are finally fighting back. Over the weekend, the Fed quietly posted a FAQ explaining what happened with the renovation of the Fed's headquarters, and Powell reportedly has asked the central bank's inspector general to review its $2.5 billion headquarters renovation project. A Powell firing could sow doubts over the Fed's independence and wreck the central bank's credibility to manage monetary policy unfettered by policy makers. 'Equities would likely sell off on impact, on a risk-off flight to safety trade,' said Padhraic Garvey, regional head of research, Americas, at Dutch bank ING. 'After all, this would be an effective forced exit of a reputable Fed Chair by the U.S. president, an unprecedented event for the market to get its head around. "But thereafter, equities could quickly reassess and choose to rally, on the theory that deep cuts in rates are a boon for corporates, as is a potentially steamy economy," he said "And inflation is not necessarily a bad thing for equities." The original cost of the renovation of the Fed's three office buildings overlooking the National Mall in Washington D.C. was estimated at $1.9 billion in 2019 but swelled to $2.5 billion. The more than 33% increase in budget was due to design changes, costs of materials, equipment, and labor and other 'unforeseen conditions' like more asbestos than anticipated and toxic contamination in soil, the Fed's FAQ said. Last week, Trump's budget director Russell Vought wrote a letter suggesting Powell either made false statements to Congress about the expensive renovation or failed to comply with permitting rules around capital-area construction. Trump also named three White House advisers to the National Capital Planning Commission, which must sign off on major construction projects in the area. Vought called out, among other things, luxe VIP dining areas and rooftop terrace gardens. However, the Fed's FAQ says 'no new VIP dining rooms are being constructed' and 'garden terrace' refers to 'the ground-level front lawn of 1951 Constitution Avenue, which serves as the roof of the parking structure beneath.' It also noted 'Green roofs are found on other federal government buildings, like the Departments of Justice, Interior, and many others, and are encouraged by the General Services Administration.' To some, Powell has already done damage, whether he stays on as Fed chair. 'It is easy to argue the market has lost confidence in the Fed,' said Nancy Tengler, chief executive of Laffer Tengler Investments. She noted some of what she sees as Powell missteps as Fed chair, including raising rates in 2018, which she says caused the 'intra-year bear market in response to Trump 1.0 tariffs. He was forced to capitulate months later.' Then in 2021, the Fed 'waited way too long to hike rates as inflation morphed from a controlled burn into a wildfire' that allowed consumer prices to soar to 9.1% by June 2022, Tengler said. Other economists say if Powell goes, the impact could be limited. 'Basically, it is likely that this would lead to a sizeable initial sell-off that could be calmed by the other governors forcibly reiterating Fed independence,' said Jim Reid, Deutsche Bank's global head of economics and thematic research. ING's Garvey said likely, 'an early departure of Powell would be followed quickly by a replacement super-dove as head of the Federal Reserve.' A dove is someone who leans toward keeping interest rates low to grow the economy, compared with a hawk who favors higher interest rates to keep inflation controlled. But even with a 'super-dove' atop the Fed, Garvey questions how much policy would change. 'We can acknowledge that the (Fed's policy-making arm) would swing more dovish than it has been. But we can't conclude that the Committee would then cut rates just because Trump commands it. In the end, it's a majority decision, and the Committee is likely to remain as divided as the latest minutes suggest, but with a bias to keep rates on hold until the coast is clear to cut them.' Medora Lee is a money, markets, and personal finance reporter at USA TODAY. You can reach her at mjlee@ and subscribe to our free Daily Money newsletter for personal finance tips and business news every Monday through Friday. This article originally appeared on USA TODAY: Could renovations finally sink Fed chair and stocks? Experts weigh in Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data