REAL ESTATE

Monmouth Mall is approved for live-work-play remake

BY Al Urbanski

The owners of New Jersey’s fourth largest mall have received approval from the Eatontown Planning Board to add 700 residential units and transform the property into a mixed-use community.

Kushner Companies’ Monmouth Mall will re-emerge as The Heights at Monmouth. Plans call for the two-story, 300,000 sq. ft. wing that includes Boscov’s department store — a longtime anchor of the 1960s-era mall — to be demolished in the reconstruction.

The Eatontown Planning Board, which had required that 12.5% of the apartments be affordable housing units, approved the project with a 7-to-1 vote.

Gross leasable area will increase from 1.54 million sq. ft. to 1.62 million sq. ft., and will be devoted to entertainment, dining, and medical tenants as well as traditional retail.

Patrick McNamara, partner in the Scarinci Hollenbeck law firm that represented Kushner, appealed to board members that “malls must offer not only retail but recreational opportunities, entertainment and a wider variety of dining opportunities.”

The next step is for Kushner and Eatontown Borough Council to enter into a developer’s agreement, which will establish a timeline for construction. County Planning Board approval is also needed for the project to proceed.

Kushner is headed by Jared Kushner, husband of Ivanka Trump and senior adviser to President Donald Trump.

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