Lennar breaks ground on $70 million housing project near upcoming Netflix studio
Developers have started building a $70 million residential complex in Eatontown, NJ, to accommodate the future workforce of the Netflix Studios East campus.
On Wednesday, Lennar Corp and the borough of Eatontown broke ground on The Premiere at Monmouth, a $70 million project that will replace a two-decade-old vacant Army housing area with 275 new homes, a public park, grocery and convenience stores, and a gas station. The site lies about ten minutes from the forthcoming Netflix Studios East, a 292-acre, $1 billion production hub scheduled to open in 2028 on the former Fort Monmouth base.
The studio’s construction has already sparked a surge in local real-estate prices, illustrated by a recent $2.6 million sale in Little Silver. Lennar’s New Jersey-New York Division President Dana Romano and Eatontown Mayor Anthony Talerico Jr. said the housing will serve demand from first-time buyers to families seeking more space, helping the community transition from a former military base to a new residential hub. The development also benefits commuters, being close to the Jersey Shore, Red Bank train station and New York City. While national new-home construction shows modest declines, this local project reflects optimism tied to the upcoming entertainment hub.
Why it matters
The new homes will supply housing for workers drawn by Netflix’s studio, influencing Eatontown’s growth and local economy.
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