M id A tlantic Real Estate Journal — Owners, Developers & Managers — July 23 - August 19, 2021 — 11C
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O wners , D evelopers & M anagers
Mayor Tony Vauss and local officials celebrate affordable apartment community The NRP Group break ground on a 56-unit affordable apt. community in Irvington, NJ I
ner on this project. Adenah is a tireless and visionary entrepreneur dedicated to this community and improving the lives of Irvington residents.” The property will create new construction and prop- erty management jobs, and improve the streetscape of the corner of Chancellor and Union avenues, two major Irvington roadways. A New Jersey Transit bus stop will be conveniently located directly outside of the community; ac - cess to the Garden State Park- way is only minutes away, providing a gateway to New York City and other neighbor-
ing metros. The building will be situated in a designated Redevelopment Area, Urban Enterprise Zone (UEZ) and Smart Growth Area. Financing partners include the New Jersey Housing Mortgage Finance Agenc y, JPMorgan Chase Bank, Hudson Housing, The Township of Irvington and Greater Newark LISC. In addition, the Irvington Hous- ing Authority is providing five project based vouchers. Leasing will begin in June 2022, with final completion scheduled for November of 2022. MAREJ
RVINGTON, NJ —May- or Tony Vauss joined state and county officials, as well as The NRP Group , a vertically integrated, best- in-class developer, builder and manager of multifamily housing, to break ground on a 56-unit affordable apartment community in Irvington. Located at 722 Chancellor Avenue, the five-story mid- rise building will offer a mix of one-, two- and three-bedroom residential units with park- ing. The apartments will be reserved for residents earn - ing 60% or less than the area median income. Five of the 56 units will be set aside for residents with special needs, who will receive supportive services from the YMCA of Greater Newark. The Urban League of Essex County will also provide social services to all residents of the com - munity. The NRP Group is develop- ing the community in partner- ship with Adenah Bayoh , a local developer and entre- preneur who has been spear- heading the redevelopment of Irvington General Hospital on Chancellor Avenue. Bayoh manages an extensive real estate portfolio, consisting of multiple multifamily homes and apartment buildings throughout Irvington, New- ark and northern New Jersey. “With NRP’s mission to provide exceptional housing for people regardless of in - come, we’re looking forward to helping fulfill the signifi - cant demand for affordable options within the Irvington community,” said J. David Heller , principal, president and chief executive officer at The NRP Group. “By working in tandem with the Township and Adenah, this project will encourage the growth of, and investment in Irvington, while also enabling working families to continue contributing to its strong sense of community and sharing in the fruit of its resurgent economic prosper- ity.” “722 Chancellor Avenue will create ripples far beyond the building’s physical footprint,” said Jonathan Gertman , vice president of Development at The NRP Group. “We’re thrilled to be working closely with the Township of Irving - ton and thankful that The NRP Group was selected to be Adenah’s development part-
Ground breaking ceremony held at 722 Chancellor Avenue.
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