Ingerman Closes on Land for Development of Affordable Community
- Jul 31, 2014
Wood-Ridge, N.J.—Multifamily builder and manager Ingerman has announced that it has closed on a 2.6-acre property in Wood-Ridge, Bergen County, N.J., where it plans to construct a 104-unit affordable rental community. The parcel is located within Somerset Development’s Wesmont Station development, an in-the-works 70-acre, pedestrian friendly neighborhood that is seeing a flood of development including luxury rentals, a new N.J. Transit train station and eventually single family homes as well.
“One of our responsibilities as a developer is to help communities realize their potential as places where people of all cultural and economic backgrounds can lead enriched lives and raise families,” says Brad Ingerman, CEO of Ingerman. “We are pleased to be able to partner with the Borough of Wood-Ridge and Somerset Development in creating such a place at Wesmont Station.”
The Ingerman project will be located adjacent the train station and will provide residents with direct commuting access to Midtown Manhattan.
The community’s three buildings will be comprised of one-, two- and three-bedroom apartment homes, as well as an assortment of amenities. Each unit will include private entrances from breezeway corridors, either a private balcony or patio and energy-efficient appliances, which includes washer and dryer.
The communal amenities include a fitness center, a large community center with socialization areas, a warming kitchen, management offices and a service suite.
The site is currently in the process of being prepared for vertical construction and the project has been designed to meet Energy Star Home and New Jersey Housing and Mortgage Finance Agency (NJHMFA) Green Building standards for energy efficiency.
“We are designing these apartments to provide a high-quality environment both in the home and throughout the property,” says David Holden, a principal of Ingerman. “Ingerman’s decades of experience in development has proven that success depends on the co-existence of affordability and quality.”
The community will begin accepting applications from prospective residents starting early next year, with completion and move-ins scheduled to begin sometime in 2015.
Other developments in the Wesmont Station neighborhood include a 406-unit luxury AvalonBay Communities community, Avalon at Wesmont Station, which will also include 27,000 square feet of retail, and the Pulte Homes development, Liberty Square at Wesmont Station, which will add 217 luxury for-sale townhomes to the area. Future phases will include single-family and live/work townhomes.
The new train station is scheduled to open in 2015 and will connect to N.J. Transit’s Main-Bergen County line. More immediate Garden State Parkway transit options will include access to routes 3, 4, 17, 46 and 80.