🏘️ NJ town getting its first apartments 🏘️ Rentals built 18 years after land purchase 🏘️ Wastewater treatment site a part of plan COLTS NECK — The same well-off town called home by Jon Stewart, Bruce Springsteen and some short-lived “Real Housewives of New Jersey” will soon have its first-ever apartment complex. Kushner Companies recently broke ground in Colts Neck on a 360-unit luxury apartment community expected to be open in 2027, NJBiz reported. Read More: Tim Walz is familiar with New Jersey, thanks to Springsteen It has become a considerably different project in the nearly two decades since the real estate developer first acquired the land.
The site was originally dubbed Colts Neck Manor, as Two River Times reported. In 2006, the plan was to build 48 townhomes, RE-NJ reported. Now, the multi-family rentals would include 72 affordable units, as a way of fulfilling state housing mandates for the town, according to the same report.
About a third of existing homes in Colts Neck are worth more than $1 million, while more than half are valued between $500,000 and a million dollars, according to U.S. Census data from 2022.
The NJ real estate developer’s Livana projects have been billed as a “new level of luxury” in six different towns. North Jersey has seen the first such residential complexes, with units in Fair Lawn and East Hanover already opened. Another was being developed in Livingston.
There were three residential complexes “coming soon” i.