Kushner Turning Monmouth Mall Into Open-Air Town Center

On May 13, 2024

Real estate development and management firm Kushner broke ground May 9 on Monmouth Square, a $500+ million project derived from the redevelopment of the Monmouth Mall in Eatontown. Th open-air town center will boast 900,000 square feet of retail and restaurant space – including a Whole Foods Market – an expansive public green, a network of pedestrian pathways, 1,000 residential units, and medical office space.

Monmouth Square represents an initiative by Kushner to “de-mall” the historic mall, once one of the nation’s largest of its kind with over 60 years of service to the community. Despite its former success, shifting retail trends and changing consumer preferences have led to the need to re-consider the highest and best use for this well-located real estate.

Principals of Kushner hosted Senator Vin Gopal (D-Monmouth), Eatontown Mayor Anthony Talerico, Jr., fellow council members, and other local dignitaries to mark the commencement of the multifaceted project.

Laurent Morali, CEO of Kushner, remarked, “This notable project will serve as a model for transforming underused malls into vibrant, community centers that cater to residents’ lifestyle needs. We are turning the traditional mall concept inside out, creating free-standing, easily-accessible retail and dining spaces seamlessly integrated with a public green and new luxury apartments.”

Kushner’s latest endeavor begins with the demolition of approximately 600,000 square feet of retail space, shrinking the retail footprint by 40%. Lord & Taylor, the first department store to be razed, closed its location in 2018 prior to filing for bankruptcy, while JCPenney, which shuttered its space in 2022 as part of the retailer’s shift to an online marketplace, will also be demolished. Whole Foods Market is slated to move into space currently occupied by Barnes & Noble, which will be relocated to a new retail building in the town center. The remaining retailers including AMC movie theater, Macy’s, and Boscov’s will remain open during construction.

Located at 180 NJ-35, less than one mile from Exit 105 of the Garden State Parkway, Monmouth Square has been designed by residential architect Minno + Wasko Architects and Planners and retail architects from Benoy and the Dietz Partnership. In addition to the retail, dining, medical, and green spaces, the innovative mixed-use destination will include 1,000 apartment residences with a distinct mix of offerings, a portion of which will be under Kushner’s newly-launched Livana brand, designed to meet the demand for sophisticated rental options and an aspirational lifestyle. Project interiors have been designed by Stonehill Taylor.

Monmouth Square will feature a mix of one-, two-, and three-bedroom homes, complemented by a rich array of upscale lifestyle amenities and social spaces. These include a 40,000-square-foot clubhouse inclusive of a fitness center, spa/wellness space, juice bar/café, coworking lounge, media room, library, pickleball court, half basketball court, golf simulator, children’s room, pet spa and TULU room.

Nicole Kushner Meyer, president of Kushner, expressed her enthusiasm, stating, “Monmouth Square represents a transformative vision that will significantly enhance Eatontown and the surrounding area. We are committed to creating a destination that not only elevates the quality of life for residents but also positively contributes to the fabric, appeal, and economic vitality of the entire community.”

Michael Sommer, chief development officer for Kushner, added, “Monmouth Square reflects Kushner’s strategic investment in Eatontown and Monmouth County that will also help shape the future of retail and residential spaces. This project is about more than just modernizing infrastructure; it is about fostering a vibrant, sustainable environment that enriches the experience for residents and visitors alike. We are excited to lead this innovative endeavor, setting a new standard for adaptive reuse and community development.”

To access more business news, visit NJB News Now.

Related Articles: