(To read more on the multifamily market, click here.)
INDEPENDENCE TWP., NJ-This Warren County township's planning board has given its approval for Heritage at Independence, a 118-unit active adult community proposed by the Kaplan Cos. The Highland Park-based Kaplan is currently working to secure county and state permits and to finalize construction plans before launching actual work. Cost of the project has not been released.
For Kaplan, it's the first project the company has done in North Jersey's Warren County. It's also the first active adult project for this community. "This is a new product for us, designed with the young active adult in mind," says Jason Kaplan, president of the Kaplan Cos.
"This new community will be a benefit for our residents, as well as for people living in the surrounding towns," says Independence Mayor Robert Giordano. "It will be a very good source of property tax revenue and will not put any children in the school system."
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