Lennar, U.S. Home Corp. Acquires Land for $125M Mixed-Use Development in Eatontown, New Jersey

by Alex Patton

EATONTOWN, N.J. — A partnership between Miami-based homebuilder Lennar Corp. and U.S. Home Corp. has acquired a 73-acre site in Eatontown, located approximately 50 miles south of New York City for the development of a $125 million mixed-use project. The Fort Monmouth Economic Revitalization Authority approved the sale of Parcel B, which is located on a former military installation, on Feb. 24, though the deal is subject to a 10-day veto period. Preliminary plans call for 302 residential units and 150,000 to 250,000 square feet of commercial space. A tentative construction timeline was not released.

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