NEWARK and WASHINGTON TOWNSHIP, N.J. — The New Jersey Economic Development Authority (NJEDA) has approved two additional senior residential development projects for Aspire funds. The two projects, one located in Newark and the other in Washington Township, will include 164 housing units for seniors, all of which will be affordable. To date, the board has now approved a total of $294 million in Aspire funds for residential projects, leading to the creation and preservation of over 1,500 housing units, nearly 70 percent of which will be affordable. With the development …
ALLENDALE, N.J. — Marquis Health Consulting Services has started a renovation project at Allendale Senior Living, an assisted living and healthcare campus in the North Jersey borough of Allendale. The project follows a rebranding at Allendale Senior Living – formerly The Allendale Community for Mature Living. Located on 12 acres in a quiet, suburban Bergen County neighborhood, the campus spans 146,000 square feet. The number of units was not disclosed. While a development cost was not released, Marquis describes it as a multi-million-dollar project. Marquis has partnered with the community’s …
BRANCHBURG, N.J. — Walters has opened Cornerstone at Branchburg, a LEED-certified community featuring 150 premium age- and income-restricted housing units in Branchburg, approximately 35 miles west of Staten Island. Situated on nearly 12 acres in Somerset County, the two-building development offers one- and two-bedroom apartments ranging from approximately 700 to 900 square feet. Cornerstone at Branchburg apartments are available to residents whose incomes are at or below 60 percent of the area’s median income. Rental rates are based on the renter’s gross annual income, according to the rent/income requirements chart.
NORTH BRUNSWICK, N.J. — JLL Capital Markets has arranged $47 million in financing for the recently constructed Amaranth at North Brunswick, a 222-unit active adult community in North Brunswick, approximately midway between Newark and Trenton. JLL represented the borrower, The Kaplan Companies, in securing the seven-year, fixed-rate loan from Nuveen Real Estate. Proceeds were utilized to retire its existing construction loan. Amaranth at North Brunswick features one- and two-bedroom floorplans with up to 1,397 square feet of living space. Michael Klein, Matthew Pizzolato and Michael Meisner led the JLL Capital …
MARLTON, N.J. — Capitol Seniors Housing has completed Arbor Terrace Marlton, an 87-unit assisted living and memory care community in Marlton, approximately 15 miles east of Philadelphia. Project partners include operator The Arbor Co., architecture and design firm Meyer, and builder IMC Construction. The three-story, 76,500-square-foot community features 60 assisted living apartments, 27 memory care units and 15,000 square feet of amenity space. Construction began in April 2021.
GLASSBORO, N.J. — Pennrose, The Housing Authority of the Borough of Glassboro (GHA), Gloucester County and other project partners have opened Village at Harmony Garden, an affordable seniors housing community in Glassboro, 20 miles south of Philadelphia. The $20M redevelopment transformed the 10-acre site that was the Ellis Manor public housing complex into 64 affordable apartments with supportive services for residents age 55 and older, as well as individuals with disabilities, and one resident superintendent unit. Village at Harmony Garden includes a mix of one- and two-bedroom apartments in one-story, …
HOWELL, N.J. — A partnership between New Jersey-based investment firm AMS Acquisitions and Miami-based holding company Vector Group has broken ground on a 100-unit seniors housing project in Howell, located east of Trenton near the Jersey Shore. The site spans 14 acres, and the four-building project will feature one- and two-bedroom units that will be reserved for renters age 55 and above. Amenities will include a pool, great room with a communal kitchen, fitness center, outdoor grilling areas and a tenant lounge. Construction is expected to last about 18 months.
BRANCHBURG, N.J. — Walters is nearing completion of Cornerstone at Branchburg, a 150-unit age- and income-restricted community in Branchburg, approximately 45 miles west of Manhattan. As the developer puts the “finishing touches” on the community’s second building, the company expects to open the property later this month. “Amid continued demand for age-restricted housing in the regional marketplace, Cornerstone at Branchburg already is popular among active seniors and empty-nesters,” says Joe Del Duca, partner and director of affordable housing for Walters. Designed to attain LEED and Energy Star certifications, Cornerstone at …
LIVINGSTON, N.J. — Sunrise Senior Living has opened the doors on Sunrise of Livingston in Livingston, approximately 20 miles west of Manhattan. The three-story property totals 86,000 square feet of space for assisted living and memory care. Although the number of units was not disclosed, Sunrise said the property can serve “more than 120 residents.” Lantz-Boggio Architects designed the property, which Wohlsen Construction Co. built.
MILLVILLE, EGG HARBOR TOWNSHIP and HAMMONTON, N.J. — New Standard Senior Living has completed development of three Medicaid-focused assisted living communities in South Jersey. All three communities feature individual (single-occupant-only) studio apartment-style residences. The Millville community offers 154 units while the second, Egg Harbor Township location offers 166 units. The last of the initial three communities, located in Hammonton, is nearing its completion with 174 units this spring. The communities are the first of their kind in the state of New Jersey, according to New Standard, and are designated to …