Adult community under construction in N.J

Real Estate Weekly, Sept 11, 2002

Westminster Communities, the development and construction arm of Kushner Companies, a leading diversified private real estate organization, is nearing completion on the first building at its new lifestyle rental community for active adults ages 52 and older.

Situated on Franklin Avenue in Franklin Lakes, N.J., just minutes from Routes 208 and 287, Horizons will include three elevatored buildings, each three stories, with 120 luxury apartment homes. The first units in the upscale community will be ready for occupancy by September.

"Horizons affords residents the opportunity to continue enjoying their active Bergen County lifestyle, while shedding some of the daily responsibilities of home ownership, such as property maintenance, landscaping and snow removal," noted Jeffrey Freireich, managing partner at Kushner Companies. "This is really the first project in northern Bergen County for empty-nesters, older adults and retirees who want to enjoy a more carefree lifestyle while they remain near family and friends."

The eight-acre development has been designed to mirror the traditional charm of its prestigious neighborhood. The spacious apartment homes feature balconies, full kitchens, formal dining rooms, dens, washer/dryers, card-access security and basement storage. Rental rates start at $1,700 per month for one-bedroom units and $2,200 for two-bedroom units with up to 1,200 SF of living space.

Horizons at Franklin Lakes will offer state-of-the-art communications and computer hook-ups for each apartment, reflecting the computer/technology-focused lifestyle of today's older adults. "Many empty-nesters and retirees continue to work, some from home, and nearly all of the retiring generation of baby boomers are computer savvy," Freireich explained. "The wiring of the Horizons will allow residents to immediately 'plug in' while they reap the benefits of discounts based on group rates."

Memo

Residents will also enjoy property amenities such as a community room, advanced fitness center, card and billiards room, and an attractive outdoor patio. Westminster Communities is adding fine finishes and extensively landscaped grounds with lighted walking paths throughout the property. A grocery store, local bank, and numerous retailers are just a short walk from the community, and Bergen County's largest malls are within easy driving distance.