Parsippany historic site gets grant; mixed-use project secures $188M refinancing
The Bowlsby-DeGelleke House received preservation funding while The District at 15fifteen completed a major loan restructuring to support its residential and retail operations.
A historic property in Parsippany-Troy Hills has been selected for financial assistance as part of a broader Morris County initiative. On July 8, the Morris County Board of County Commissioners approved more than $4.9 million in grants through the Historic Preservation Trust Fund. This funding supports restoration and planning efforts at landmarks throughout the county.
The Bowlsby-DeGelleke House was awarded a non-construction grant totaling $12,472 to prepare construction documents for future work. The money will help advance planning efforts for this historic property in Parsippany-Troy Hills. Officials state that these grants position sites like the house for eventual restoration projects.
This specific award is one of 35 grants distributed countywide under the new funding cycle. Construction grants funded exterior restorations and roof replacements, while non-construction grants support architectural assessments and planning documents needed before work begins. The total value of this year's awards reaches $4,920,231.
Major Awards Across Morris County
Other significant recipients include the Scott Farm Barn in Mendham Borough which received $428,900 for rehabilitation efforts. The Seward House in Mount Olive Township was awarded $400,000 specifically for interior restoration work. Additionally, the First Reformed Church of Pompton Plains in Pequannock Township secured $365,184 to restore a fence.
The Phoenix House in Mendham Borough received $357,200 for Phase 2 exterior restoration projects. In Dover, the Orchard Street Cemetery Gatehouse was granted $349,760 for its second phase of restoration work. These large awards highlight the diverse range of historic structures benefiting from the trust fund.
The Historic Preservation Trust Fund has helped preserve dozens of Morris County landmarks since it was created. The program provides municipalities and nonprofit organizations with financial assistance to restore historically significant buildings. This year's distribution includes both construction and non-construction grants spread throughout the district.
Large Scale Refinancing Announced
In a separate development regarding local real estate, Cushman & Wakefield announced on July 8 that it arranged an $188 million refinancing for The District at 15fifteen in Parsippany. This mixed-use property includes 498 residential units and 58,789 square feet of retail space across three buildings.
Cushman & Wakefield described the project as Morris County's largest mixed-use development. The floating-rate loan was provided by Affinius Capital to support the borrowers Claremont Development, Stanbery Development Group, and PCCP. John Alascio, Chuck Kohaut, and Meredith Donovan from Cushman & Wakefield represented these entities in securing the deal.
Chuck Kohaut, an executive director at Cushman & Wakefield, noted that significant lender demand reflected the strength of the sponsorship and asset quality. He stated that The District has established itself as a premier mixed-use destination in Morris County since its delivery. The firm expressed gratitude for representing the sponsors on this transformative project.
Community Amenities And Housing Mix
The development features three buildings containing market-rate, age-restricted, and affordable housing options to serve different resident needs. A standalone retail pavilion sits adjacent to a landscaped pedestrian plaza designed specifically for community events and outdoor activity. Retail tenants include restaurants, fitness operators, and service-oriented businesses serving both residents and the surrounding area.
The property includes more than 1,000 parking spaces to support the full development operations. Residents have access to amenities such as lounges, fitness centers, coworking areas, a pool, and various outdoor spaces. These features are designed to create a comprehensive living environment within the complex.
Strategic Location And Connectivity
Located at 1515 Route 10, the approximately 13-acre property offers direct access to interstates 287 and 80 as well as Route 202. This location provides convenient connectivity to Newark Liberty International Airport, Jersey City, Hoboken, and Manhattan for commuters. The site is surrounded by corporate headquarters and a deep base of retail and dining options within a short drive.
The refinancing announcement comes just one day before the Morris County Board approved preservation grants that include projects in Parsippany-Troy Hills. Both events highlight significant financial activity impacting historic sites and modern developments in the same township during July 2026.
Questions residents are asking
How much money did the Bowlsby-DeGelleke House receive for preservation?
The house was awarded a non-construction grant of $12,472 to prepare construction documents. This funding is intended to advance planning efforts and position the property for future restoration work.
What type of housing does The District at 15fifteen offer?
The development includes a mix of market-rate, age-restricted, and affordable housing across its three buildings. It also features retail spaces and amenities like fitness centers and coworking areas.
Which other towns received large preservation grants this year?
Mendham Borough, Mount Olive Township, Pequannock Township, and Dover all received significant awards for projects ranging from barn rehabilitation to church fence restoration. The total funding distributed across Morris County was nearly $5 million.