Russo Development Plants Roots in Paramus: A New Era for North Jersey’s Housing Giant
the staff of the Ridgewood blog
Paramus NJ, the landscape of North Jersey real estate is shifting—literally. Russo Development LLC, the powerhouse behind some of the state’s most recognizable mixed-use communities, has officially broken ground on its new corporate headquarters in Paramus, New Jersey.
Currently based in Carlstadt, the developer is moving to a custom-built, 45,000-square-foot facility on From Road. This strategic relocation places the firm in the heart of its most active development hub, just steps away from its latest residential milestones.
Building More Than Just Homes
The new three-story headquarters isn’t just an office; it’s a testament to the company’s 60-year evolution. Founded by Lawrence Russo in 1964, the firm has successfully pivoted from industrial warehouses to internet-era data centers, and finally, to the high-density Vermella-branded luxury apartments that define its modern portfolio.
“The opportunity to move into a modern building that’s built to be a collaborative environment for our team is going to be an amazing improvement,” says CEO Ed Russo.
The Paramus Transformation: Malls to Multi-Family
Russo is currently a lead architect of the “live-work-play” movement in Bergen County, transforming traditional retail corridors into vibrant residential neighborhoods. Key projects include:
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Vermella Paramus: A 360-unit luxury apartment and retail project next to Paramus Park Mall, set to open its first phase in April 2026.
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Bergen Chapters: A massive 426-unit joint venture next to the Bergen Town Center on Route 4, scheduled for a 2027 completion.
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The Woodcliff Lake Project: Demolition has begun on the former BMW headquarters to make way for 300+ apartments and townhomes.
Navigating the 2026 Housing Market
While the “building boom” is real, Ed Russo notes that the industry faces unique challenges. Despite New Jersey’s updated master plans and affordable housing mandates, financial barriers remain high.
“The financial barriers to getting projects built are still there; costs are still high,” Russo noted, highlighting a national trend where construction starts have slowed despite increased zoning. However, with over 7,000 units completed across the state, Russo remains a dominant force in providing transit-oriented, high-quality housing at moderate price points.
What’s Next?
As construction on the new From Road headquarters nears its Fall 2026 completion, Russo Development is doubling down on North Jersey. With rent growth stabilizing and a fresh wave of state-mandated housing projects on the horizon, the move to Paramus positions the company perfectly to lead the next decade of Garden State growth.
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Tags: #RealEstateNJ #Paramus #BergenCounty #RussoDevelopment #Vermella #NJHousingMarket #UrbanDevelopment
Pffffft
Get out while you can
As a “thank you” to the political backers.
The Woodcliff Lake Project: “… to make way for 300+ apartments and townhomes.”
Not what the area roads need. Ever tried to traffic through Saddle River in the AM or PM rush hours? What about schools for these new residents after the low income additions in SR?
And you didn’t mention the other “amenities” associated with the project. Who approved this project? What was the emollient to get it through?
Any updates on the projects up Chestnut Ridge Rd at the mall? Is Trader Joes going ahead?
Bad news.
Another developer looking after the affordable needs of a community(s) he doesn’t live in. In the end, he gets paid. Any approvals for a large-scale development should come with a substantial contribution to the infrastructure. You want it, you pay.