A new centerpiece for Downtown Carteret’s Cultural Arts & Business District officially opened its doors on Nov. 7. The Arthur, a $41 million mixed-use development, celebrated its grand opening with a ribbon-cutting ceremony and building tour attended by Mayor Daniel Reiman, Borough Council members, and the project’s development team.
The new property, located at 21 Washington Ave., adds 153 luxury apartments, a two-story parking garage, and 4,885 square feet of first-floor retail space to the borough’s rapidly growing commercial core.
Reiman highlighted that The Arthur is part of a larger, long-term vision that has seen over $7 billion in private investment in Carteret over the past two decades.
“This is part of the expanded redevelopment, and the creation of a new downtown is something that we’ve talked and dreamed about for quite some time,” Reiman said. “This is the urban mixed-use that everybody strives for, and every town is trying to duplicate.”
The Arthur stands near other major downtown projects, including the Botanic residential complex and the growing $50 million Performing Arts Center. Reiman noted that over $300 million has been invested in Downtown Carteret alone in the past five years.
Don Epstein of Donald Epstein Family Properties praised the municipal leadership, stating the final building design was largely a realization of the mayor’s vision. “It’s great working with the administration. It’s great to see the growth here, and there’s a lot more growth to come,” Epstein said.
The Arthur offers residents a range of high-end amenities, with common areas designed for both relaxation and fitness:
- Third-Floor Courtyard: Features two large screen TVs, grilling stations, extensive seating, decorative flora, and a turf center space.
- Lounge: A well-decorated space complete with a kitchen, leading directly to the courtyard.
- Fitness Center: A well-equipped on-site gym.
- Rooftop Terrace: Still under construction, the rooftop promises stunning views of the New York City skyline and will include an outdoor kitchen.
At the time of the grand opening, the residential portion of the building was approximately one-third leased, offering studio, one-bedroom, and two-bedroom apartments. One of the expected four commercial tenants has already signed a lease for the first-floor retail space.
