search

The Real Deal Logo

Trending

Brookfield’s deal to sell 777 Tower in Downtown LA collapsesBrookfield’s deal to sell 777 Tower in Downtown LA collapsesHousing deal finally passes; here are the detailsHousing deal finally passes; here are the detailsGlossier founder is buyer of $22M Brooklyn townhouseGlossier founder is buyer of $22M Brooklyn townhouseDevelopers have a new tax break. Now they must figure it outDevelopers have a new tax break. Now they must figure it out
Residential
Tri-State

200-unit luxury senior housing complex coming to Bergen County office park

Pending zoning approval, Reuten Associates and Metropolis Property Group expect to complete Closter, NJ project by 2023

MPG managing partner James Ashley Johnston and Reuten Associates managing partner Mike Reuten with a rendering of 231 and 239 Herbert Avenue in Closter, NJ (MPG, Reuten Associates)
MPG managing partner James Ashley Johnston and Reuten Associates managing partner Mike Reuten with a rendering of 231 and 239 Herbert Avenue in Closter, NJ (MPG, Reuten Associates)

A nearly 200-unit luxury senior housing community is coming to Bergen County.

Reuten Associates and developer Metropolis Property Group announced plans for the 195-unit facility in Closter, New Jersey, which will be called The Residences at Reuten Park.

The proposed complex will replace post-war manufacturing buildings at Reuten Corporate Park, a more than 200,000-square-foot office and warehouse park owned by the Reuten family since 1945.

The developers did not reveal the expected cost of the project, which is still pending approval from the Closter Zoning Board of Adjustments.

The community will be located on a six-acre property at 231 and 239 Herbert Avenue. The developers expect construction to take 14 to 16 months.

Sign Up for the undefined Newsletter

The luxury development is being designed for independent living, as well as assisting living and memory care. All-inclusive rental options will include studio, one-bedroom and two-bedroom apartments.

Amenities will include private outdoor spaces, a fountain, an outdoor dining courtyard, a cafe, an outdoor swimming pool, a spa/salon, a fitness center, a cinema, a game room and walking trails.

The developers cited an unmet need in the area for senior housing as the impetus behind the community, which will be located about 10 miles north of the George Washington Bridge.

“Often times, seniors like me have to move outside of their communities because of the lack of senior housing options,” said Reuten Associates co-owner Pat Reuten. “This new development will be a wonderful way to allow seniors to stay close to their families in Closter while still giving them the opportunity to embrace their independence.”

Senior living facilities closer to urban centers are the subject of growing interest from developers and investors. In July, Brookfield Asset Management spent $31 million for a senior living facility in Brooklyn. Later that month, Brookfield was confirmed as the buyer behind the $664 million Sunrise Senior Living deal.

Read more

Tags
Senior Housing