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

BOUND BROOK, NJ-The Kalian Cos. is set to start work on CarriagePark at Bound Brook, a 144-unit active adult condominium community.The project follows Kalian's completion of its initial projectunder the Carriage Park name, Carriage Park at Lawrence, a 210-unitcommunity in the Princeton market. It will be the developer's sixthcommunity overall, five of which are located in New Jersey.

According to Patrick Kalian, president of the Red Bank, NJ-basedcompany that bears his name, previews of the property will startthis summer. The individual one-story units will range from 1,350to 1,630 sf.

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