500 Parq Ln

The full picture AI research · Nov 1, 2026

The county record describes five-plus-family apartment buildings of about 309,979 sq ft at 500 Parq Lane in Parsippany-Troy Hills. The reported construction cost is about $57.2 million. Public coverage ties this address to the first building of PARQ, a redevelopment of the former Lanidex Plaza office campus near Interstates 287 and 80.

That first building has 275 apartments and is already built. Its ribbon-cutting was in May 2024. The wider PARQ plan was reported to cover 23 acres. Phases 1 and 2 would bring about 600 homes: two apartment buildings and 75 townhouses built by a separate builder. It also includes small convenience retail, a pool and fitness amenities, and an athletic field with a playground. A second apartment building of 250 units was part of the approved plan. Later phases are described as adding more apartments, shops and green space. Part of the project is meant to help the township meet its state affordable housing obligation.

What it could mean nearby

• Adds rental homes in place of an underused office campus, with part of the project counted toward the township's affordable housing obligation.
• Phase 1 includes an athletic field and playground, and later phases mention open green spaces and onsite retail.
• Later phases could add more residents and traffic near the Interstate 287 and Interstate 80 junction. The sources found do not study this.

Where it stands

The first apartment building at this address has been built and opened for leasing, and it was reported as nearly fully leased in 2025. Later phases would normally need or follow their own township approvals, then permits and construction. The sources do not show where those later phases stand today.

• May 2025 Press release reported the 500 PARQ building was nearing full lease-up
• Jun 14, 2024 Latest county filing for the project
• Jun 5, 2024 Trade press reported the completion of the 275 apartments
• May 2024 Ribbon-cutting for the first apartment building
• Jan 2021 Planning board approval of Phases 1 and 2 reported by a news site

Want to weigh in? The Parsippany-Troy Hills Planning Board reviews site plans for this project, and residents can comment at its public meetings, which are listed on the township website.

Who's behind it

PARQ Parsippany · The developer of the PARQ Life Reimagined mixed-use redevelopment of the former Lanidex Plaza; the apartments are managed by Greystar and the townhomes are built by NVR.

Around the web

• 500 PARQ celebrates completion of its 275 multifamily residences in ParsippanyROI-NJ · Jun 5, 2024Confirms the 275-apartment building is complete, replaced Lanidex Plaza, and that later phases are planned.
• Phases 1 and 2 of Parq Parsippany Get Green Light From Planning BoardJersey Digs · Jan 1, 2021Reports planning board approval of Phases 1 and 2, with about 600 homes on 23 acres.
• Milestone moment: PARQ debuts first 275 apartments at Parsippany office campusReal Estate NJCovers the opening of the first 275 apartments on the former office campus.
• 500 PARQ Nearing StabilizationPR Newswire via StreetInsider · May 1, 2025Press release saying the building was nearing about 95 percent occupancy.

Researched by AI from public sources on Nov 1, 2026. It can make mistakes, so check the linked sources and the municipality before relying on it.