Brownfield Redevelopment will Emerge as Luxury LEED Apartment Asset
Walters Group is excited about the area's improved economic conditions.
By Andie Lowenstein, Associate Editor
Haddon Twp., N.J. – Walters Group is redeveloping a brownfield site into LEED-certified multifamily housing and the first building is approaching completion.
Albertson Village’s first out of four buildings is scheduled for completion in September 2015. The luxury apartment community is under construction on West Albertson Avenue in the Westmont section of Haddon Township.
The first 19-unit building is part of an 82-unit apartment community, rising on a former industrial site in Camden County. Redevelopment efforts began in the fall of 2014 with full project completion slated for January 2016. The next three buildings will include 22 units and are scheduled for delivery in November, December and January, respectively. The first building will also house one of the eight affordable housing units planned for the community.
Redevelopment efforts of the 3.5-acre brownfield site involved demolition of the Russell Cast and Stone cement factory, which remained vacant for more than 10 years. Walters is using environmentally friendly “green” technologies in the construction of the new buildings and plans to achieve the strict standards of LEED-Gold certification.
“This is our first project in Camden County, and it’s been in the works for a long time,” said Ed Walters, Jr., president and founder of Walters Group. “Once it’s completed it will be well worth the wait. Economic conditions have improved to the point where we felt this was a good time to move forward on this type of redevelopment.”
The four three-story buildings will offer an assortment of one- and two-bedroom apartments with some offering loft spaces. The one-bedroom units will vary from 827 to 1,034 square feet. The two-bedroom units will range from 1,127 to 1,454 square feet.
The chic interior design will combine amenities such as granite kitchen countertops and Energy Star appliances. The exterior will highlight landscaped open spaces with paved pathways for resident enjoyment of a community clubhouse, 24-hour fitness center, elevators and parking garages. Albertson Village will feature exterior lighting and security cameras throughout the property. Situated just a few blocks from Westmont Station, the PATCO high-speed rail line provides convenient access to Philadelphia.
“There’s a strong sense of community in Haddon Township,” said Walters. “New businesses moving in and a redevelopment boom have turned Haddon Township into a vibrant community with an excellent quality of life.”