January 2023

10C — January 2023 — Owners, Developers & Managers — M id A tlantic Real Estate Journal


O wners , D evelopers & M anagers

Community designed by Spiezle Architectural Group Prism announces Nell grand opening in Dunellen, NJ

Enterprise Community Dev. closes on Brookland Park Apts.


UNELLEN, NJ — Residential leasing launched at The Nell,

marking a major milestone for Prism Capital Partners’ new luxury apartment and retail community in Dunellen. The redevelopment of the former Art Color industrial facility sits adjacent to Dunellen’s down- town, directly across from the Dunellen Train Station. “Dunellen is known for its small-town charm and vibrant downtown – it’s a wonderful place to live in Central New Jersey,” said Prism’s Robert Fourniadis , senior vice presi- dent, residential. “Early inter- est in The Nell shows its ideal location – with easy access to transit, shopping and dining – is a big draw for potential renters. Additionally, The Nell is introducing a standard of apartment living that is second to none in the area.” Located at 100 South Wash- ington Ave., The Nell offers upscale, modern rental homes. Its bright, airy apartments feature nine-foot ceilings, open layouts, luxury plank flooring, chef-inspired kitchens and spa- like bathrooms. On-site garage parking, smart lock entry, in- home washer/dryer, secured package room and indoor bike storage add convenience to life at The Nell. PHILADELPHIA, PA — Xeal , a provider of electric vehicle (EV) charging stations and smarter technology for the multifamily industry an- nounced an agreement with Friedman Realty Group (FRG) , to provide charging stations for FRG's Philadel- phia portfolio. This partner- ship will bring charging capa- bilities to 300 units in housing communities situated on the historic Main Line of PA. Xeal's EV charging stations are part of FRG's goal to pro- vide environmentally-friendly improvements to their portfo- lio. The project will introduce EV charging to the historic Philadelphia Main Line re- gion, which was first built by Pennsylvania Railroad in the early 19th century and grew to become one of the most influential suburbs of Philadelphia. "We are excited to partner with Xeal to provide best-in-

Brookland Park Apartments

Home National Program Re- quirements. Brookland Park Apartments is located in the Highland Park neighborhood of Richmond, im- mediately west of Six Points, an area that has seen major public investment over the last decade and a community of opportunity offering access to public transportation, ample options for shopping, youth programs and public amenities including the Northside branch of Richmond Public Library, Hotchkiss Field Community Center and Anne Hardy Park. Redevelopment of the nearby Bank of America building at Six Points promises to bring a pharmacy and additional health care amenities to the neighborhood in addition to the Bon Secours Northside Medical Center that currently serves the community. “We believe the development of Brookland Park Apartments continues to drive investment in the Highland Park com- munity,” said Matt Engel , senior director of real estate development for Enterprise Community Development. “We hope this has a ripple effect that brings more residential and retail development into this wonderful neighborhood.” Support for the project comes from Richmond City Council vice president Ellen F. Robertson (District 6) and City of Richmond Housing & Community Development. The total development cost for project is $21MM. Financ- ing for the project comes from 4% Low-Income Housing Tax Credits, a tax-exempt loan issued by Harrisonburg Re- development and Housing Authority, a construction loan from Truist Bank, Virginia Housing Trust Funds and Virginia HOME funds, City of Richmond Affordable Housing Trust Fund, and a grant from Bank of America. Torti Gallas + Partners is the project architect and UrbanCore Construction is the general contractor. MAREJ

RICHMOND, VA — En- terprise Community Devel- opment, Inc. closed on the purchase of the former Mizpah Presbyterian Church and the Nehemiah House Commu- nity Center located in the 1200 block of Brookland Park Blvd. in the Highland Park neighbor- hood of Richmond. Enterprise Community Development will redevelop the site into the Brookland Park Apartments, featuring 66 new, affordable apartments for individuals and families built to U.S. Depart- ment of Energy Zero Energy Ready Homes and Enterprise Green Communities standards. Once complete, the four-story Brookland Park Apartments will feature one-, two- and three-bedroom apartments serving families from 40% to 60% AMI. Brookland Park Apart- ments’ unique design cel- ebrates the history of the Gothic Revival-style church currently located on the site, incorporating and preserv- ing a section of brick. Units will have washer and dryer hookups, electric split HVAC systems, LVT flooring, and EnergyStar energy efficient appliances and lighting. Seven units will be designed to Uni- versal Design Standards, including two for vision- and hearing-impaired residents. Community amenities include a fitness center, community room, community retail flex space, an outdoor plaza and on-site parking. In addition to working towards an En- terprise Green Communities certification, Enterprise Com - munity Development seeks to make the apartments DOE Zero Energy Ready Home- certified, signifying a high- performance home that is so energy efficient that a renew - able energy system could offset most or all the home's annual energy use. Each DOE Zero Energy Ready Home meets rigorous efficiency and performance criteria found in the DOE Zero Energy Ready

The Nell living room-kitchen

A clubhouse with a state- of-the-art fitness center, yoga room, resident lounge, com- munity kitchen and meeting rooms establishes The Nell’s live/play environment. Out- doors, curated spaces for rec- reation and gathering include a resort-style pool, landscaped courtyard and entertainment area, private barbeques, a firepit, and an outdoor bar with televisions and lounge seating. With apartments available immediately, The Nell is offer- ing introductory net rents from $2,142 for one-bedroom and $2,585 for two-bedroom layouts. Designed by Spiezle Archi- tectural Group , The Nell re- flects the character of its neigh - borhood, with the clubhouse and retail elements incorporat- ing a transit theme. “At Prism, we are proud to have worked class EV charging technology to our residents while at the same time furthering our commitment to initiatives that promote sustainability at our properties," said David Friedman , president of FRG. "We're also proud to be among the first companies to bring EV charging to our Greater Philadelphia apartment com- munities. Xeal's easy-to-use, reliable platform will be a tremendous benefit to our residents and their guests and we look forward to expanding our relationship with them." Xeal's charging platform leverages its patent-pending Apollo protocol, which uses encrypted tokens and distrib- uted ledgers via smartphones to operate charging stations in a self-reliant and more secure way, while maintain- ing all smart functions. By eliminating the need for smart chargers to depend on a cen- tral server external to the

closely with local officials in Dunellen to bring to market a quality development,” said Prism’s Edwin Cohen, princi- pal partner. “The Nell already is playing a key role in the bor- ough’s continued renaissance, and now it is bringing both new residents and retail tenants to the area.” In November, Prism an- nounced leases with Blue Foundry Bank and Kessler Rehabilitation Center. The remaining 3,700 s/f within The Nell’s free-standing retail component is ideally suited for two additional retail users, such as an independent cof- feehouse, restaurant or local convenience store. The Nell campus also in- cludes 130 for-sale townhouses developed by K. Hovnanian Companies . MAREJ building, Xeal eliminates IT and network infrastructure capital expenditure (capex) entirely and maximizes return on investment (ROI) for build- ing owners, while offering superior reliability for drivers. The simple, user-friendly platform ensures residents have a frictionless charging experience while property managers and ownership can control access, set driver rates, and monitor charger usage on demand. The Apollo technol- ogy allows for these and all of the smart charger's functions to work seamlessly without the reliance on a cellular or WiFi connection. "Xeal is excited to partner with FRG to bring reliable EV charging infrastructure to Philadelphia's historic Main Line, which has been a part of Pennsylvania history for over 200 years," said Zander Isaa- cson , co-founder and CEO at Xeal. MAREJ

Xeal & FRG team to bring ev charging to work- force and affordable housing in Philadelphia

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