(To read more on the multifamily market, click here.)

RED BANK, NJ-K Hovnanian, based here, has rolled out plans forthree multifamily projects at different locations, and all threeface a number of issues related to the environment, governmentregulations and zoning. The largest of the proposals is FourSeasons at Rockaway which, if built, would consist of 188age-restricted townhouses, a 6,600-sf clubhouse and a variety ofrecreational amenities on 51 acres, according to a Hovnanianspokesman.

The site was originally proposed for Villages at Rockaway, asupermarket-anchored strip shopping center. Proposed by WellfleetDevelopers Inc., it was to have combined with a residentialcomponent on an adjacent tract with an English Village-style designto create a larger mixed-use development. The Rockaway planningboard approved Villages at Rockaway in 2000, but the process ofgetting the necessary environmental permits relating to water tookso long that the potential supermarket tenant backed out, accordingto attorney Richard Oller, representing the site's currentownership, citing Highlands watershed development restrictions.

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