Larken Associates has broken ground on Monte View at Pohatcong, a 120-unit community in Pohatcong, N.J. The property is set to welcome its first residents by fall 2024, with completion expected in early 2025.
In July, Valley National Bank provided a $21.6 million construction loan for the developer, according to public records.
The community will encompass three low-rise, garden-style buildings and a four-story building that will also have a ground-floor clubhouse. Common area-amenities will include a swimming pool, dog run and fitness center. Units will be available in one- and two-bedroom floorplans.
The 9-acre community will rise at 1001 Monte View Drive, close to the New Jersey and Pennsylvania border. A host of dining options, along with Pohatcong Plaza are within a 2-mile radius from the site. Phillipsburg, N.J., is 3 miles northwest. The community will also be some 10 miles from The District at 15fifteen, a mixed-use development in Parsippany, N.J., expected to come online in the summer of 2025.
Larken Associates owns and manages 19 multifamily assets, or 2,500 units, across New Jersey and Pennsylvania. Earlier this year, the developer completed The Reserve at Crosswicks, a 272-unit community in Bordentown, N.J., together with The Ridge at Readington, a 254-unit community in Whitehouse Station, N.J.
