Project Profiles

Urban Condominiums
Site: Condominium Site, New Brunswick, NJ
Client: Major Development Group
 

After years of flight to the suburbs, demand for urban communities is returning as empty nesters and young professionals flock to environments offering a pedestrian-focused, amenity-rich lifestyle. Capitalizing on this trend is New Brunswick, NJ which is undergoing a renaissance of its central business district. Home to Rutgers University, worldwide headquarters for Johnson & Johnson, and location of one of the busiest commuter rail stations in the region, New Brunswick has emerged as a vibrant community and desirable place to live. In recent years, restaurants, hotels, theaters and shops have opened along with many new condominium developments.
 
Fulton Research evaluated the feasibility of introducing a new luxury condominium community on property owned by the client. The analysis included profiles of the targeted buyers–empty nesters, professional couples and singles–and an estimate of market depth. Additionally, Fulton Research evaluated comparable communities from around the region to provide a complete picture of the choices available to the home shopper. Recommendations were made to develop an upscale community targeting commuters to New York City, as well as empty nesters living in the region, who want to move down in size, reduce maintenance responsibilities, but still have access to upscale urban amenities.

 

[Project Profiles]