Clearing Up Rumors: Update On The Cottages At Compass Point

BARNEGAT – When the Cottages at Compass Point were first proposed to the Planning Board in 2020, the project faced considerable opposition. Concerns about increased traffic and potential tax revenue shortfalls were voiced by residents. The project continues to be a source of controversy for area locals.

Since construction began in 2021, skepticism has persisted, with criticisms about the homes being too close to one another and the project’s slow progress. Some have even compared the luxuriously designed cottages to military barracks.

Rumors have also circulated, with some claiming that the developer is facing bankruptcy and that the homes will be converted into Section 8 housing. Others have speculated that the property has been sold to another builder who plans to build single-family homes like those in Ocean Acres.

Setting The Record Straight

Chris Vernon, the developer behind the Cottages at Compass Point, has firmly dismissed these rumors. Vernon hosted a personal tour of the complex and answered questions about the project.

While Vernon acknowledged that he’s spoken with D.R. Horton and regularly gets calls from other major homebuilders, he added that he has no interest.

“We’re in the real estate business,” asserted Vernon. “I have no desire to move anywhere; we’re in this for the long run.”

Indeed, Vernon’s entrepreneurial success within the local area alone speaks of an individual who makes plans and turns them into reality. Among his other well-known businesses in Southern Ocean County are the Valet Auto Wash on Route 72 in Manahawkin, the Mainland Hotel in Manahawkin, Hotel LBI, and the Spray Beach Oceanfront Hotel.

According to Vernon, the Department of Housing and Urban Development (HUD) has recognized the Cottages at Compass Point as a model for smart development. Vernon described the community as a “lifestyle community” where neighbors can connect through activities like cooking classes, yoga, pottery, and pool aerobics at the clubhouse.

Current Status

The Cottages at Compass Point sit on West Bay Avenue, on land previously owned by Shoreline Sand and Gravel. One of the many over 55 communities along West Bay Avenue, the development is unique in that it only features manufactured homes.

The inside of the homes are substantial considering their outside appearance, with the smallest model measuring 1,400 square feet of living space. State-of-the-art appliances are in each of the cottages, which are also landscaped with an assortment of flowers.

When construction began in 2021, the lowest asking price was $300,000, an increase from the figures discussed during the Planning Board stages. The smallest home available now is listed at $433,000, with some models and extras going as high as $547,000.

Homeowners at Compass Point do not pay property taxes or HOA fees. Instead, they incur a land lease of $995 per month, a rate that has remained unchanged since the project first began. As the owner of a commercial property, the developer is responsible for the real estate taxes. This arrangement is similar to apartment complexes, where the property owner covers the taxes.

Rental and lease to own options also are available for those not inclined to own a home. These require a two-year commitment and range in monthly fees from $2,009 to $4,000.

A total of 48 cottages have already been added to the site. All of the current residents at Compass Point live there full-time. They come from all areas of the state, as well as from Pennsylvania and New York. Some have relocated from as close as Ocean Acres and the Greenbriar development in Waretown.

When Vernon first proposed the project, he highlighted his company’s strong background in hospitality, promising to make Compass Point’s clubhouse the best in the area. The result is a suite of amenities that create a resort-like atmosphere.

An outdoor pool sits adjacent to an indoor pool covered by a rooftop. In cooler weather, garage-style doors close around the indoor pool, and the heated flooring ensures no cold feet when temperatures drop. The indoor area also boasts a spacious 20-person hot tub and nearby cabanas.

For sports enthusiasts, there are pickleball and tennis courts. Inside, a well-stocked library offers books and tables for chess and checkers. Two bocce ball courts invite friendly competitions, and dedicated rooms for card players add to the clubhouse’s resort-like charm.

A dog run is in the works, providing a space for residents’ pets to play. Golf lovers can enjoy an indoor golf simulator and an outdoor putting green. The gym is equipped with top-of-the-line equipment, including multiple Peloton bikes. Planned classes will cater to both fitness enthusiasts and those with creative inclinations, with a variety of crafts and activities on offer. A billiards room is also available for residents to enjoy.

Vernon has made it clear that these amenities are exclusively for Compass Point residents, with no plans to offer memberships to outsiders.

Unplanned Testimonials

Before Vernon arrived to host the tour, a couple of residents at the Cottages agreed to be interviewed, sharing candidly why they chose to move to this community. Notably, the interviews were not planned or requested in advance.

Maralyn and George Zink recently relocated from Barnegat 67 to the Cottages and couldn’t be happier with their decision. They love their home and the resort-like feel of the development. Originally from Robbinsville, the Zinks have also lived in Florida.

“We were going back and forth from Florida to see our grandkids for years,” George explained. “And now that we’re aging, I didn’t want to drive the 1,000 miles and deal with traffic anymore.”

With real estate market prices soaring, the Zinks saw an opportunity to cash out and secure their finances. They chose the lease option at the Cottages as the best fit for their needs.

“We are going to permanently lease,” said George. “I don’t see the point of buying to make money twenty years down the road. I’d rather see the cash work for itself – that offsets the cost of living and raises your standard of living.”

Erica Volchik had the pool to herself as she floated along, enjoying the tranquil setting. She was the third person to take up residence in the Cottages. Having lived in Jackson for 18 years and grown up in East Windsor, Volchik chose this location for its proximity to LBI and the appealing amenities offered by the community.

Before moving to the Cottages, Volchik lived with her brother in Hamilton and had a winter rental on LBI, which made her fall in love with the area.

“I’m here for the rest of my life,” Volchik said.

Moving Forward

Vernon reiterated that the project is designed to be a 20-year endeavor, with the flexibility to build between 10 and 50 units annually for a total of 777 homes. He acknowledged that the project experienced some delays due to the pandemic, a common challenge for developers nationwide.

“This is a generational property,” emphasized Vernon. “It’s a family business, and we have no intention of selling it. We believe in Ocean County. I live here. I love it.”

Part of the project includes Vernon’s commitment to help meet Barnegat’s affordable housing quota on the old Sweet Jenny’s property on Route 9.

“That’s due to start after 200 cottages are built,” said Vernon. “That’s realistically about four years away.”

A grand opening of the clubhouse by invitation only is slated for July 23. In September, the Cottages will host a major fundraiser for the fire department.

“We’re going to have a giant event with fire trucks, food trucks, and a big picnic for the community,” Vernon explained. “It’s a great way for families to come out, meet us, and form their own opinions.”