HAINESPORT, N.J. — New Jersey-based developer Walters is underway on the development of Cornerstone at Hainesport, a 73-unit affordable housing project in Hainesport, roughly 23 miles east of Philadelphia. The property will consist of six buildings. Units will come in one-, two- and three-bedroom layouts. The community will be available to households earning 60 percent or less of the area median income. Amenities include a basketball court, children’s play area and a clubhouse with computer workstations. The first apartments are expected to be available for occupancy by December.
POHATCONG, N.J. — Larken Associates is nearing completion of Monte View at Pohatcong, a 120-unit complex located at 1001 Monte View Drive in Pohatcong, roughly 23 miles east of Allentown, Pennsylvania. The property consists of three garden-style buildings and one four-story elevatored building. Units come in one- and two-bedroom floor plans. Residents have access to amenities such as a clubhouse, pool, dog run, tot lot, fitness center, coworking center and game room. Monte View at Pohatcong is slated for full completion by April 2025. The property is currently approximately 50 …
JERSEY CITY, N.J. — Alpine Residential has received $81.2 million in financing for Atlas and Starling, two properties located in the Bergen-Lafayette section of Jersey City. Thomas Didio, Thomas Didio Jr. and Michael Mataras of JLL Capital Markets originated the two five-year, interest only fixed-rate Freddie Mac loans. The proceeds will be used to take out the existing construction loans, which were also arranged by JLL. Located at 270 Johnston St., Atlas comprises 169 apartments, including 11 affordable units. The community was built in 2025. Starling is located at 66 Monitor St. and offers …
JERSEY CITY, N.J. — Alpine Residential has received a $142.7 million construction loan and equity placement for Scholars Village, a 500-unit project in Jersey City. The development is situated at 189 Phillip St., adjacent to the Liberty Science Center and across from Liberty State Park. Scholars Village will consist of two 12-story buildings with 4,101 square feet of ground-level commercial space. The community will feature studio, one-, two- and three-bedroom floor plans. Planned amenities include a fitness center, coworking spaces and rooftop terraces. Thomas Didio, Thomas Didio Jr. and Michael Mataras …
HACKENSACK, N.J. — The Hampshire Cos. has launched leasing at Ora, a 270-unit complex in downtown Hackensack. The seven-story building features a mix of studio, one- and two-bedroom floor plans. Units feature in-unit washers and dryers, plank flooring, stainless steel appliances and quartz countertops. Monthly rents start at approximately $2,100 for a studio. Residents have access to a rooftop clubroom with a bar and billiards, outdoor terrace with fire pits and a courtyard with barbeque grills and dining areas. Additional amenities include a fitness center, coworking spaces and conference rooms, …
UNION, N.J. — An affiliate of The Inland Real Estate Group of Cos. Inc. has acquired Summit Court, a 393-unit property located at 450 Clermont Terrace in Union, approximately 20 miles southwest of New York City. A joint venture between Fidelco Realty Group and Diversified Properties sold the community for $131.5 million. Built in 2018 and 2023, Summit Court offers a mix of 351 market-rate apartments and 42 affordable housing units. However, income restrictions for the affordable residences were not disclosed. Apartments come in one-, two- and three-bedroom floor plans. The property was …
ORANGE, N.J. — Gateway Merchant Banking has secured site plan approval from the City of Orange Township Planning Board for the redevelopment of 188 South Essex Ave. The $350 million phased redevelopment project will convert the former Orange Memorial Hospital into a mixed-use development with 1,005 apartment units. Apartments will come in one-, two- and three-bedroom layouts. Up to 20 percent of the units will be set aside as affordable housing units. Additionally, Gateway states that it is pursuing partnerships in order to bring senior and student housing to the …
ABERDEEN, N.J. — Beachwold Residential has purchased The Forge at Glassworks, a 170-unit community located at 118 Glassworks Blvd. in Aberdeen, roughly 40 miles south of New York City. Ingerman Group sold the property for $57 million. Built in 2017, The Forge at Glassworks offers a mix of one- and two-bedroom apartments, as well as three-bedroom townhome units. The average unit size is 1,077 square feet. Amenities include a lobby and clubroom, pool, fitness center with a sauna and yoga studios, game room and multiple outdoor spaces, such as a …
READINGTON, N.J. — Berkadia has arranged $11.9 million in low-income housing tax credit equity for Apartments at Three Bridges, an affordable housing development in Readington. Conifer Realty is the developer. Senior Vice President and Head of Acquisitions Chris McGraw of Berkadia Tax Credit Solutions led the financing effort. Apartments at Three Bridges will consist of 80 townhome units across seven buildings. The homes are reserved for tenants earning between 20 and 60 percent of the area median income. Additional financing for the project will include a construction loan through Fulton …
HOBOKEN, N.J. — Locally based developer LCOR has broken ground on Charlie, a 386-unit project in Hoboken. The 27-story building will be located within the $900 million Hoboken Connect mixed-use development. Consigli Construction Co. is the general contractor for Charlie, a tentative completion date for which was not disclosed. Units will come in studio, one-, two- and three-bedroom floor plans. Twenty percent of the units will be set aside as affordable housing, although specific income restrictions were not disclosed. Amenities will include a resident lounge with package room, concierge and …