Klein Enterprises Breaks Ground on Luxury NJ Community
The 272-unit property is the firm's second project in northern New Jersey.
Klein Enterprises and the city government of Metuchen, N.J., have broken ground on The Kempson, a new apartment community in the municipality. The $71 million, 272-unit luxury apartment community is Klein’s second multifamily project in northern New Jersey.
Financing was led by LGA Capital, along with JLL, and provided by Northwestern Mutual. Klein selected IMC Construction as general contractor for the project. With site work complete, vertical construction is underway. Final delivery is expected in early 2026.
The project faced several hurdles, including gaining the numerous necessary approvals, Sean Garland, Klein Enterprises’ chief investment officer, told Multi-Housing News. “The environmental remediation was an incredibly large challenge given the expanse, the intricacy of approvals and the multiple stakeholders involved.”
Metuchen’s first PILOT project
The project was Metuchen’s first-ever PILOT (Payment in Lieu of Taxes) project, under which the state pays municipalities to conserve open, undeveloped lands that are owned by the state government and tax-exempt nonprofit organizations.
Klein Enterprises overcame the obstacles by striving to identify solutions that would be acceptable to all stakeholders. “Mainly, we established an incredibly strong relationship with the municipality through our RDA (Redevelopment Agreement) and PILOT negotiations, including borough representatives on the mayor’s team and in Middlesex County,” said Garland. “We also had an incredibly strong environmental team to deal with the remediation and a sophisticated legal team to work through the numerous agreements and approvals required to get to this point.”
The apartment community will emphasize green programs, such as a rooftop solar array and other design components whose incorporation is key in meeting National Green Building Standard Gold Certification Standards. Among building amenities are electric charging stations.
Earlier this month, Garden Communities commenced construction on a luxury project in New Providence, N.J.
