Rouse Properties and Kushner Cos. To Transform Monmouth Mall into The Heights at Monmouth

by Katie Sloan

Eatontown, N.J. — Kushner Companies and Rouse Properties have created a new joint venture to redevelop Monmouth Mall into the Heights at Monmouth, an innovative mixed-use destination that is expected to create a new destination marketplace for the area’s residents.

The partners say the Heights at Monmouth is inspired by successful open-air centers like San Jose’s Santana Row, Austin’s The Domain and Pier Village in Long Branch, New Jersey (owned by Kushner).

Plans for the transformation of the property include space to house a mix of shopping, dining, entertainment, and leisure space; the companies plan to add residential space and common public areas. An indoor culinary marketplace, Culinary Heights, will feature a range of food providers from upscale restaurants to themed eateries, wine bars and tea boutiques. A public facing town square that includes a streetscape with prominent retail and dining options is also planned.

The joint venture is currently working on a site plan application and anticipates starting construction on the project in 2018. Kushner Cos. became the sole owner of Monmouth Mall in 2015, acquiring Tornado Realty Trust’s 50 percent share in the center at that time. Rouse has repositioned a number of centers within its portfolio in recent years, among them Fig Garden Village in Fresno, California; The Shoppes at Gateway in Springfield, Oregon; and NewPark In Newark, California.

“This is a long-term investment in Eatontown and will transform Monmouth Mall into a 24/7 attraction unlike any other in the state,” says Laurent Morali, president of Kushner Cos. “We are thrilled to partner with industry leader Rouse to deliver a cutting edge project that will serve Eatontown, Monmouth County and New Jersey for years to come.”

Monmouth Mall is currently the single largest source of tax revenue for Eatontown, and a goal of both companies to help preserve that for the long term.

“We are excited to partner with Kushner to execute our shared vision for The Heights at Monmouth,” says Brian Harper, CEO of Rouse Properties. “Throughout this project, we will leverage each other’s deep redevelopment and transformational expertise to deliver an innovative community-focused destination center that truly revolutionizes the way people live, eat, shop and unwind in Monmouth County and beyond.”

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