Counsellors Title Agency is closely monitoring the significant real estate developments in Middlesex County, particularly the renewed interest of Kushner Companies in Perth Amboy. This surge in investment activity could be linked to the anticipated construction of Netflix’s new studio in the former Fort Monmouth area, signaling a potential economic boom for the region.
Perth Amboy Waterfront Development
Kushner Companies, through its affiliate Perth A Urban Renewal LLC, is poised to make a substantial $200 million investment in Perth Amboy’s waterfront. The project, which includes the construction of 602 apartments across five five-story buildings, represents a major commitment to the area’s real estate market. Key Project Details:
■ 602 residential apartments
■ Five five-story buildings
■ 909 parking spaces
Three-phase Construction Plan
The City Council has introduced an ordinance to approve a long-term tax break and financial agreement with Perth A Urban Renewal LLC, demonstrating the local government’s support for this large-scale development.
Historical Context and Challenges
This project is part of the larger Landings at Harborside complex, initially agreed upon in 2000 between the Perth Amboy Redevelopment Agency and Charles Kushner of Kushner Companies. While the development has faced some challenges, including a settled consumer fraud lawsuit in 2017, Kushner Companies has maintained ownership of the property and is now moving forward with renewed vigor.
Potential Economic Impact
The resurgence of interest from Kushner Companies in Perth Amboy, coupled with the possible influence of Netflix’s planned studio in Fort Monmouth, suggests a promising outlook for Middlesex County’s real estate market. This large-scale residential development could attract more residents to the area, potentially increasing demand for various real estate services, including title insurance.
Counsellors Title Agency’s Perspective
As a leading title insurance agency, Counsellors Title Agency recognizes the significance of this development for the local real estate market. The agency stands ready to provide comprehensive title services for this and other projects in the area, ensuring smooth transactions and protecting the interests of all parties involved in these exciting new developments. The renewed interest in Perth Amboy’s waterfront and the potential ripple effects from the Netflix studio project underscore the dynamic nature of Middlesex County’s real estate landscape. Counsellors Title Agency remains committed to facilitating these transformative projects by offering expert title services and supporting the growth and development of the region.
If you have any questions about this information or title insurance, please contact Ralph Aponte: 732.914.1400.
Counsellors Title Agency, www.counsellorstitle.net, founded in 1996, is one of New Jersey’s most respected title agencies, serving all 21 New Jersey counties with title insurance, clearing title, escrow, tidelands searches, and closing and settlement services for commercial or industrial properties, waterfront properties and marinas, condominiums, townhouses or residential single-family homes. Counsellors Title also features its own Attorney Settlement Assistance Program™ [ASAP], which is an individual resource customized to fit the needs specifically of real estate attorneys, including, Documentation, Preparation, Disbursement of Funds, Attendance at Closing, HUD Preparation or Post-Closing Matters.