Developers Eye Monmouth St For Apartments, Retail Space

RED BANK, NJ - A New Jersey developer is seeking to build 32 apartments on a vacant Monmouth Street lot across from the Count Basie Center for the Arts, according to documents from the Red Bank Zoning Board.

During a May 6 meeting of the borough zoning board, officials noted that 32 one- and two-bedroom apartments are included in the proposal, as well as 1,300-square-feet of retail space on the ground level.

According to planning board documents, the developer is calling for a two-story residence and green roof deck to be built above a 42-space residential parking lot. The garage would be accessible by a driveway on Pearl Street, according to testimony. Apartment units would range in size from 800 to 1,100 square feet. Each would include a private balcony.

The property was reportedly purchased by Park Valley Monmouth LLC for 1.43 million in 2018. The vacant lot was previously home to a gas station and a Crossfit gym.

The apartment complex is slated to include five units for low- and moderate-income residents at 120 Monmouth Street. The complex would satisfy all of Red Bank’s affordable housing requirements, according to testimony.

Dynamic Traffic engineer John McCormick stated that the impact of the Pearl Street ground floor exit on traffic would be minimal, according to a 2020 traffic study.

The apartment complex would be the latest development to transform Monmouth Street, alongside the Station Place luxury apartment building, Sickles Market (a gourmet grocery store that opened in 2020) and the Count Basie Theatre’s multi-million dollar expansion.

The Red Bank Zoning Board did not make a decision during the meeting. The hearing is slated to resume on May 20.