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298-unit adult community to be built on 100 acres. (New Jersey).

Continental Properties has recently closed on the purchase of a 100-acre site in Monmouth County's Ocean Township.

The Woodbridge, N.J.-based homebuilder will develop the property for its newest active adult community, Cedar Village at Ocean, an enclave of 298 ranch and two-story single-family homes, according to Steven Fisch, a partner at Continental Properties. Site improvements for the $50-million project are expected to begin in early 2002.

"Cedar Village at Ocean -- the latest edition of our line of successful adult communities -- will feature the distinctive designs, quality construction, meticulous attention-to-detail and array of quality recreational amenities which have become synonymous with a Continental Properties community," says Fisch.

Priced from the mid-$200,000s, Cedar Village at Ocean will offer age-restricted, single-family designs with 1,500 to 2,500 square-feet of living space. The community will feature a 10,000-SF, state-of-the-art clubhouse complete with exercise room, business center, library, computer room, card room, billiard room and meeting rooms, an on-site pool, tennis courts, a boccie court and horseshoe pits.

In addition to Cedar Village at Ocean, Continental Properties is currently developing several other active adult communities in New Jersey. These include Cedar Village at Holmdel, a community of 158 single-family homes; Rolling Meadows at Wayside, an enclave of 328 single-family homes in the Wayside district of Ocean Township;, and two rental communities for active adults -- Woodbridge Hills, a community of 427 luxury rental apartments; and Holmdel Village, a complex of 70 income-restricted apartments in Holmdel. Continental is also participating in a joint venture with Premier Homes and Garden Homes to develop, Canal Walk, a 1,500-unit active adult community in the Somerset section of Franklin Township in Somerset County.
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Title Annotation:Continental Properties
Publication:Real Estate Weekly
Article Type:Brief Article
Geographic Code:1U2NJ
Date:Jan 30, 2002
Words:279
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