Developer S. Hekemian Group (SHG) purchased the parcel at 213-235 Birchwood St. in Cranford, NJ, from a private owner for $8 million. The three-acre plot will be the site of the Cranford Riverfront Redevelopment, which will feature 150 residential flat units, 17 town homes, a 300-stall parking area and 15,000 square feet of street level retail. The project is estimated to be worth $75 million when complete.