Red Bank NJ apartment plan saves house for affordable housing

RED BANK – A revised plan for a 45-unit apartment building now calls for preserving one of two houses that were expected to be torn down and turning it into affordable housing.

The proposed apartment building, dubbed 121 Monmouth St., first came before the zoning board in February 2020 and was revived in February of this year

Originally, the plan would build a five-story building with 52 apartments and two floors of parking. Since then, one parking level has been removed and the number of units has been reduced to 45. The ground floor is proposed to be for retail spaces and the developer’s real estate business. 

In addition to the house behind the Pearl St. Consignment and Custom Clothes store being razed, the office building and vacant gym neighboring the Red Bank Charter School will be torn down. 

Renderings for 121 Monmouth St. on Thursday, May 19, 2022 in Red Bank, New Jersey.

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In February, concerns were raised about the developer’s affordable housing plans and communication with the development’s neighbors

Previously, the developer said it was exploring options to turn a couple of houses the developer owns on Mechanic Street into affordable housing. The current proposal would turn six of the 45 apartments into affordable housing and the house that will not be razed into the seventh required affordable housing unit, according to Michael Simpson, architect for the developer.

https://www.app.com/story/news/local/red-bank-middletown-area/red-bank/2022/05/20/red-bank-nj-apartment-plan-affordable-housing/9808024002/