AMS Acquisitions, in partnership with [Vector group], recently purchased a 14-acre property at 6461 Route 9 on Howell Township in N.J., for $5.25M. Construction has begun on a 116.800 sq. The 55+ community consists of four buildings, with 100 total units. There is also a clubhouse, an outdoor patio and a pool.
The property is located along Route 9 and provides residents with dynamic access to retail shopping, goods and service. According to AMS, construction on the complex will take about 18 months.
Units will have a mixture of one- and two-bedrooms. They’ll feature high ceilings and oversized windows. There will also be central air conditioning, large kitchens and top-of-the-line appliances. The community amenities include a large room with a communal kitchen and bar, a workout studio, tenancy lounge, and movement studio. A pool, lounge, and patio area with a fireplace and barbeque are included in the outside amenities.
Rafi Mitnick, Co-Head Acquisitions of AMS, said that this project was important to meet the needs of seniors who are downsizing in the community. The development is intended to be a premier rental community for Monmouth County seniors.
AMS is actively expanding its suburban development platform, having completed construction of a 96 unit project in East Brunswick. AMS Acquisitions, a NJ-based firm specializing in retail, office and residential properties is one of the fastest growing developers in the area.
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