Kushner Breaks Ground on Monmouth County Project

Kushner Companies broke ground on a residential community in Colts Neck, N.J., on July 31. Located at 7 Route 537, Livana Colts Neck will offer 360 rental residences spread across 15 buildings situated on a 30-area plot of land.

The property will include a fully-amenitized clubhouse and a modern farmhouse exterior aimed at harmonizing with the surrounding picturesque landscape of rural Colts Neck. The three-story structures were designed by Minno & Wasko Architects and Planners.

Construction is expected to span approximately three years, with an anticipated completion date of February 2027.

“Monmouth County’s unique blend of coastal beauty, historical charm, economic strength, top-rated schools, and vibrant amenities makes it an ideal location for innovative development,” Michael Sommer, Chief Development Officer, Kushner, told Commercial Property Executive.

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“Our projects are tailored to reflect the distinct character of each area,” said Sommer. “In Long Branch, we’re enhancing the beachfront lifestyle; in Eatontown, we’re transforming the Monmouth Mall into a modern, open-air town center; and in Colts Neck, we’re introducing the township’s first luxury apartment community. Each development is designed to tap into and amplify the unique attributes of its location, meeting the county’s diverse needs and evolving market.”

The groundbreaking in Colts Neck is the latest in an active year for Kushner Companies.

The developer recently began redeveloping the Monmouth Mall in Eatontown into Monmouth Square, transforming it into a modern town center that will feature 1,000 residential units, 900,000 square feet of retail, an active public green space and pedestrian pathways. Additionally, Kushner broke ground on a mixed-use residential and retail development in Long Branch, which will include 299 rental residences, a SuperFresh grocery market and a neighborhood café, enhancing the Lower Broadway corridor and connecting downtown to the beachfront while integrating with Kushner’s vibrant Pier Village community, which includes the Wave Resort & Spa.

The Long Branch market in New Jersey has 18 rental properties totaling 2,525 units and 97.1% occupancy as of June, according to Yardi Matrix data. Average rents in June were $2,663.

In northern New Jersey, Kushner recently launched leasing at two new luxury rental communities developed on former vacant office building sites. Livana Fair Lawn features 307 residences for those 55 and better, while Livana East Hanover offers 265 residences.

Kushner is also actively developing its ambitious 1723-unit One Journal Square project in Jersey City, adjacent to the PATH Station offering metro access to New York City. The nearly $1 billion mixed-use development, one of the largest in the region, will create over 2 million square feet of residential, retail, amenities, parking and open space in the heart of the historic Journal Square neighborhood.