Hundreds of rental homes are slated to come to Colts Neck, one of New Jersey’s most affluent communities, with developers already breaking ground on the town’s first apartment complex.
The 15-building complex along Route 537 in the town will feature a total of 360 luxury apartments, according to the project’s developer, New York-based real estate firm Kushner Companies.
Construction on the 30-acre site, named Rivanna Colts Neck, broke ground last month despite opposition from neighbors and environmentalists.
In the years leading up to the start of construction on the complex, formerly known as Colts Neck Manor, Kushner Companies filed a lawsuit against Freehold Township in 2020, seeking to use the township’s water and sewer lines for the apartments.
Freehold, which abuts the development, has countersued Kushner, arguing that the company is forcing the town to pay millions of dollars to accommodate its massive housing project.
Kushner later revised the plans to include an underground wastewater treatment and disposal system on the site, a change that has been controversial.
Residents launched a petition against the development last year, and local environmentalists have also raised concerns about the system, including the Sierra Club of New Jersey, which passed a resolution opposing the project.
The groups argue that the sewer system could result in thousands of gallons of sewage being discharged daily into local wells that provide drinking water to residents.
But despite those concerns, the New Jersey Department of Environmental Protection last month granted the developer a permit to build a wastewater treatment facility, according to state documents.
Town officials did not immediately respond to a request for comment.
A rendering of Rivanna Colts Neck, a 360-unit apartment complex being developed in Colts Neck by New York City-based Kushner Companies. Kushner Companies
The apartment complex, which will feature amenities such as a fitness center, yoga studio, pool and work-from-home space, will be the first of its kind in the affluent Monmouth County community.
It will have a mix of one-, two- and three-bedroom floorplans, as well as 72 units designated as affordable housing, according to Kushner’s people. Construction is expected to be completed by February 2027, the people said.
Colts Neck Township’s median household income is $187,969, one of the highest in New Jersey and nearly double the statewide median. The average value of residential property in the Monmouth County township is over $1 million.
Celebrities like Jon Stewart, Queen Latifah and Bruce Springsteen call the town home, and Trump National Golf Club’s Colts Neck branch is located about two miles from the new development.
“We are excited to develop Colts Neck’s first luxury rental apartments,” Kushner’s chief development officer, Michael Sommer, said in a statement. “Our team has developed a plan that respects the character of the neighborhood while providing essential housing and a luxury lifestyle worthy of the beauty of the location.”
“We are committed to ensuring this project strengthens the community and provides lasting value for current and future residents.”
Kushner is also the real estate firm behind the $500 million redevelopment of Eatontown’s Monmouth Mall, which it plans to transform into a town center with 1,000 residential units, and in May broke ground on a luxury resort-style condominium complex in Long Branch, where the penthouse recently sold for a record $5.95 million.
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Nyah Marshall can be reached at Nmarshall@njadvancemedia.com
