M id A tlantic Real Estate Journal — Owners, Developers & Managers — September 17 - October 21, 2021 — 19A


O wners , D evelopers & M anagers

Metropolis Property Group serves as developer of the ‘Residences at Reuten Park Reuten Associates announces plan for luxury senior housing community in Closter, NJ

derful way to allow seniors to stay close to their families in Closter while still giving them the opportunity to embrace their independence.” The Residences at Reuten Park will bring additional benefits to Closter, including enhancing the borough’s tax base by an estimated $1 mil - lion each year. This includes $700,000 for the Closter Public Schools, nearly 10 times the amount the district currently receives in tax revenues from the property. Additionally, the new project will reduce cars and commer-

cial trucks on Herbert Ave., resulting in a safer, quieter neighborhood. The develop- ment’s proximity to down- town Closter will promote pedestrian foot traffic, which will bring more business for local retailers, restaurants and other small businesses. “We fully support plans to convert the industrial park into a residential community that will benefit seniors and add to the charm and beauty of our town,” said Mary Ann Hubschman, who owns and operates the Palisades Coun- try Day School. MAREJ

LOSTER, NJ — Re- uten Associates and Metropolis Property Group unveiled plans today for a 195-unit luxury senior housing development in Clo- ster. The Residences at Reuten Park will replace five obsolete post-World War II-era manu- facturing buildings located within the Reuten Corporate Park to create a modern, state- of-the-art senior housing com- munity. The luxury senior housing development – designed for independent living, assisted living and memory care – will offer all-inclusive rental units with studio, one-and two-bedroom apartments situ- ated on beautifully landscaped grounds. Amenities will in- clude private outdoor social spaces, fountains, an outdoor dining courtyard, multiple indoor dining areas, a café, an outdoor swimming pool, a pond with an elevated wooden deck, a spa/salon and fitness center, cinema, game room, community gardens, fire pits and walking trails. The Residences at Reuten Park will be located on an a six- acre property at 231 and 239 Herbert Ave. in downtown Clo- ster – within walking distance of downtown retail stores and restaurants including Closter Plaza, as well as the Closter Nature Center. The property is located 10 miles north of the George Washington Bridge in Bergen County. The project will be construct- ed in 14 to 16 months, pending the Borough’s Zoning Board of Adjustment’s approval of the application. The proposed Residences at Reuten Park is currently located within Clo- ster’s Zoning District No. 5 ‘I’ Industrial Area. Reuten Asso- ciates is requesting the Closter Zoning Board of Adjustments amend the property’s zoning requirements to allow for a senior housing community. “We believe that transform- ing the oldest portion of Reuten Corporate Park from a manu- facturing center to a beautiful luxury senior housing com- munity is the ‘highest and best use’ of our land,” said Mike Reuten, owner and managing partner, Reuten Associates. “It will beautify the neighborhood and add a significant asset to our community – benefitting seniors, families, neighbors and local businesses.” “Often times, seniors like me

The Residences at Reuten Park

have to move outside of their communities because of the lack of senior housing options,”

said Pat Reuten , co-owner of Reuten Associates. “This new development will be a won-

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