Somerset Gate Called Redevelopment Success

Somerset Gate opening1

Representatives from the township and Redev Group in front of the newly opened tot lot at Somerset Gate.

The complete sell-out of the Somerset Gate development on Route 27 was celebrated Aug 17 by the developer and township officials.

The 106-townhouse development saw its final resident move in in June, said Charley Avery, a partner with the developer, Redev Group.

Redev Group representatives, along with members of the township’s Redevelopment Authority and Mayor Chris Kelly, were on hand to cut a red ribbon at the development’s tot lot.

“We opened up the tot lot, which is the last stage,” Avery said.

The development took about two years to build and sell out, Avery said, noting that that was fast “for this market.”

“Price, location, the fact that we have a great traffic route here with Rt. 27” all contributed to the development’s appeal, he said.

The units are identical, 1,500-square-feet with 2-bedrooms and 2-bathrooms with garages, Avery said.

He said the average price is between $250,000 and $260,000, but redevelopment Authority chairman Michael Gianotto said some units are selling for as high as $310,000.

The owners are mainly first-time home buyers, Avery said.

“Not a lot of children,” he said.

Gianotto said Somerset Gate’s success is “proof” that Rt. 27 can be redeveloped with market-rate housing.

“This was a concept that I envisioned and thought was going to be a success for owner-occupied housing, and this proves it,” he said.

“The success for the developer, the success for the township, is just proof for me and everyone else that Rt. 27 can be developed market rate and not no- or low-income if you have the right product and the right price,” Gianotto said. “I’m going to use this development with the rest of the developers to prove my point that it will work if you try.”

Gianotto also praised Redev Group.

“This developer in particular has been absolutely superb,” he said,

Any difficulties that cropped up during the process “were always resolved in a quick manner, in an amicable manner,” he said.

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