Amidst the changing automotive industry, Stellantis (STLA) -) brand Fiat is getting into a new venture beyond its compact cars.
And the project in the works might surprise Fiat enthusiasts.
Related: Toyota has an important warning for electric vehicle enthusiasts
In a statement released on Oct. 25, the Italian carmaker is collaborating with regional real estate development, investment and property management company UNLMTD Real Estate for a unique development near the Hudson Waterfront in New Jersey.
The company's Fiat House project will see the construction of an apartment complex with over 300 units and Fiat design language at its core #car #auto #cars https://t.co/IGfw0uWA1i
— Carscoops (@Carscoop) October 26, 2023
Dubbed the Fiat House, the namesake is not given to a large car with a Fiat badge, but rather a large, 300-unit apartment complex in Fort Lee, N.J.
Located a stone’s throw away from the George Washington Bridge, the Fiat House is aimed straight at commuters looking for a short drive or bus ride into New York City, and is slated to accompany the launch of the new Fiat 500e in North America in early 2024.
The 300 apartments in this complex are planned to be split amongst studios, as well as one and two bedroom apartments, some of which will come fully furnished. The “premium” furnishings, as well as the apartment layouts, are meant to reflect the design and “efficient use of space” of the Fiat 500 subcompact car.
In addition to the 30,000 square feet of amenities, social spaces and concierge services included with the units, the Fiat House will also offer commuters access to a car-sharing service via a fleet of Fiat 500e electric vehicles.
More Technology:
- The company behind ChatGPT is now facing a massive lawsuit
- Prominent EV company says latest deal will be the first of many
- Apple makes a big new move with Elon Musk's Twitter
"Collaborating with Fiat on this endeavor forges a unique opportunity to transcend traditional real estate development boundaries," said UNLMTD Real Estate development lead Gabriella LoConte. "We envision a future where people embrace mobility, live efficiently, and experience life to the fullest. We look forward to bringing that vision to life in a dynamic location, where in a few minutes of time, one can easily bike over the George Washington Bridge to Manhattan or just as easily access unparalleled hiking and walking trails on the Palisade cliffs."
Real Estate is usually a luxury carmaker's second specialty
Fiat is not the only automaker to collaborate with property developers. In the past, sports car makers Bugatti and Aston Martin have lent their names and stylistic touches to buildings and units in Miami, New York City and Dubai for the jet-set who seek to have the full experience with their respective cars.
View the original article to see embedded media.
Aston Martin’s New York City ‘condos,’ for instance, come furnished with pieces from the British marque’s home collection, as well as an Aston Martin DBX crossover SUV parked at a train station in Connecticut.
"FIAT is a love brand around the world and our partnership with UNLMTD has created a very unique opportunity to showcase what FIAT stands for: sustainable mobility with optimistic, forward-looking living," said Fiat CEO and Stellantis Chief Marketing Officer Olivier Francois.
Action Alerts PLUS offers expert portfolio guidance to help you make informed investing decisions. Sign up now.
