Kaplan Companies Unveils “101 Roosevelt” in Carteret Luxury Rentals are the Latest Redevelopment in Lower Roosevelt Avenue Business District

Carteret, NJ – High-end urban living is often out of reach for those who can’t afford the soaring rents of Manhattan, Jersey City or Hoboken for sleek, newly-constructed apartments with all the amenities and on-site parking.

And that is why “101 Roosevelt” in Carteret – the latest development by Kaplan Companies – is getting plenty of attention.

The elevator building has the look and feel of a luxury hotel. There are concierge services in a lobby, units overlooking landscaped courtyards and 24-hour gated access from a built-in parking deck connected directly to the living floors. The building, with a signature clock tower, also includes a public plaza to accommodate street-side shops that help maximize the urban feel.

Each apartment in 101 Roosevelt has the latest in Manhattan design, such as contemporary slab style cabinetry, stainless steel appliances, granite countertops and all-wood floors. Rents for one-bedroom units start at $1,650; two-bedroom units begin at $1,950.

“What is attracting people to 101 Roosevelt is the urban lifestyle offered in a sleek building with every amenity imaginable,” said Jason Kaplan, president of Kaplan Companies. “We are attracting people of all ethnicities and backgrounds, from throughout New Jersey and metro New York, who want to experience what it is like living in an upscale Manhattan building, but at a price that most everyone can afford.”

It was nearly a decade ago that Kaplan first visited the Chrome neighborhood for preliminary talks with borough officials about redevelopment opportunities along the lower section of Roosevelt Avenue.

It was an old, depressed area of Carteret, sitting in an industrial area with abandoned buildings and limited amenities for local residents. But Mayor Daniel Reiman and others shared a common vision for Chrome – a once-grand community that could become a haven for commuters, empty-nesters and others who wanted to be just minutes from major roads, rail and the airport.

Kaplan saw the logic and the potential of investing in the neighborhood. Two earlier Kaplan developments are nearly 100 percent occupied and 101 Roosevelt already has leases signed on a quarter of the 99 units.

101 Roosevelt is the third in a series of Kaplan Companies developments in Carteret within its Gateway community.  Kaplan Companies broke ground in 2006, following an extensive paving and streetscape improvement project. The first residential development that opened was “Brownstones at Gateway,” followed by “Camelot at Gateway.” Kaplan is now constructing “88 Roosevelt,” which is similar in design and features to 101 Roosevelt.

“The convenience factor is one of the main attractions to our Gateway communities,” Kaplan explained. “It is a short drive to the Garden State Parkway and the New Jersey Turnpike, and just 12 minutes to the Newark airport. There is also nearby train stations, a bus station right on Roosevelt Avenue and talk of a Manhattan-bound ferry service coming to Carteret. You can really live, work and play right here.”

Carteret Mayor Dan Reiman said Kaplan’s ongoing project has been a welcome improvement to the Lower Roosevelt neighborhood.

“Gateway promises to be among the vanguard of urban revitalization projects throughout the state,” Reiman said. “This historic part of Carteret will ultimately be returned to its former commercial and residential stature, while offering comfortable residency, convenient access to commuter resources, as well as enticing retail space.”

“For close to 40 years, administrators and residents of Carteret have talked about redeveloping lower Roosevelt Avenue, and we are happy to be getting it done,” the mayor added.

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