Apartment Complex Set for 104-Acre Redevelopment Zone

ABERDEEN, NJ-More than a year ago, this northern Monmouth County township set aside some 60 acres adjoining the Aberdeen-Matawan commuter rail station as a redevelopment zone. That move was followed last summer by neighboring Matawan’s decision to add 44 acres adjacent to its own side of the rail station site for the same purposes.

Now, in the first new project announced for the combined 104-acre tract, Irving, TX-based homebuilder JPI has started work on a 290-unit upscale apartment complex that will cover 14 acres along Mohingson Creek. Unit sizes will range between about 750 and 1,300 sf and rents will be between $1,250 and $2,300 per month. The centerpiece of the complex will be a 5,600-sf clubhouse featuring a business center, a surround-sound theater, exercise facilities and swimming pool. The apartment units will be arrayed in a half-dozen, four-story buildings with elevators.

While JPI is currently developing apartment communities in almost two-dozen states, this is its initial excursion into the New Jersey market, according to W. Pretlow Riddick, the company’s eastern division manager. “Architectural design will feature Victorian period detail,” according to Riddick.