Carteret, NJ – Mayor Dan Reiman has announced that Kaplan Companies has received permits to begin Phase II of construction on Gateway of Carteret. The mixed-use redevelopment project first broke ground in 2006 with the completion of its rental office.
32 luxury townhomes have subsequently been completed, and offered for sale or rent.
PhaseII will call for the $25 million addition of 130 new residential units, housed in 20 and 30 unit buildings along Roosevelt Avenue and Essex Avenue, from McKinley St. to Pershing Avenue. Each will have a garage with private access and luxury amenities, according to Jason Kaplan, President of Kaplan Companies.
Construction has begun with footings and foundations now in place. The entire phase will take 18 months to complete, according to Kaplan, with the first occupancies to be made available by the Fall of 2010.
Planning for “Gateway at Carteret,” has been completed by Kaplan Companies of Highland Park in coordination with Carteret’s Redevelopment Board. Kaplan is known throughout the region for its achievements in urban revitalization, transforming distressed urban communities into vibrant resources for living, shopping, and commuting.
The entire Gateway project, once completed, will offer numerous loft-style condos and condominium flats, as well as for-sale townhomes, luxury rental apartments, and 42,000 square feet of retail space. The construction of a public plaza has also been planned, making way for street-side cafes. The Roosevelt Avenue streetscape will include decorative pavers, ornamental-style street lighting and green space, maintaining consistency with the town’s many other completed streetscape projects.
“Gateway at Carteret will evolve into a complete town center, including a parking deck to accommodate many new residents, employees and visitors expected to flow into Chrome,” said Jason Kaplan.
“Kaplan’s ongoing project has been a welcome improvement to the Chrome neighborhood,” Mayor Dan Reiman stated. “Gateway promises to be among the vanguard of urban revitalization projects throughout the state. 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 retail space.”
“This project has always been a 7-10 year build out,” Mayor Reiman added. “While we would love to have seen Phase II start earlier, the national and regional economy has impacted every construction dollar and permit across the nation. We are fortunate that although this process has been slow-going, vacant building lots have been a far cry from the abandoned buildings, crime and prostitution that formerly characterized this neighborhood.”