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Real Estate Journal — Central New Jersey — November 10 - 23, 2017 — 5B
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M id A tlantic
Community Investment Strategies develops new bldg. 5 years after SuperstormSandy Bayshore Village reopens P ORT MONMOUTH, NJ — State and lo- cal officials gathered
In South Plainfield, NJ BusselRealtyleases76,640 s/f at 140 South Ave.
together with developer Com- munity Investment Strate- gies, Inc. (CIS) and residents of Bayshore Village to officially cut the ribbon and celebrate the opening of this much antici- pated senior community. “It’s a dream come true,” said resident Ed Sheridan. I am so happy to be back home. It’s such a beautiful place and my new apartment is even located around the same spot as my old one.” Damaged by Sandy, the orig- inal Bayshore Village com- munity was demolished and replaced with a brand-new structure that incorporates state-of-the-art resiliency fea- tures and now rests on a site that has been raised consid- erably above the floor plain elevation. “The rebuilding of Bayshore Village is the culmination of the hard work and dedication by many stakeholders and partners,” said Monmouth County Freeholder Director Thomas Arnone. “The property provided homes for too many low-income seniors to let it just disappear from our local hous- ing stock.” Echoing similar sentiments, Middletown Mayor Gerry Scharfenberger noted that many of the residents have lived in Middletown their en- tire lives. “Making it possible for residents to return to the neighborhood they know and love was important to us.” The new three-story build- ing is handicap accessible with multiple elevators and consists of 14 two-bedroom and 95 one- bedroom apartments, with an additional one-bedroom apart- ment for the live-in superin- tendent. Apartment amenities include central heating and air conditioning, patios/balconies, high speed internet access, emergency pull cords, energy efficient appliances, dishwash- ers, and washer/dryer hookups. The smoke free, pet friendly community includes a fitness room, community room with fireplace and catering kitchen, library, lounges, computer &
State and local officials gathered together with CIS and residents of Bayshore Village cut the ribbon and celebrate the opening of the
much anticipated senior community. meeting rooms, wellness cen- ter, laundry facilities, key fob entry, security cameras, 24- hour emergency maintenance, and ample on-site parking. Rents range from $755 to $889 for a one-bedroom and $905 to $1,025 for a two-bed- room apartment and serves seniors age 62+ whose income is at or below 60% of Area Median Income ($39,480 for a one-person household). “Middletown was ground zero for the interagency relief efforts working hard to bring normalcy back to the Garden State after Hurricane Sandy. To that end, it’s only appropri- ate that we gather here today to celebrate another example of critical partnerships – Bay- shore Village,” said Lynne Patton, HUD Regional Admin- istrator for New York and New Jersey. “It’s great to see how $18.9 million in HUD disas- ter recovery funding through NJHMFA can transform lives, and reassuring to know that this development was built with resiliency in mind to with- stand the impact of potential future disasters.” "Resiliency represents a new way of thinking about build- ing, reconstruction, and rehab, especially in areas prone to weather-driven disasters," said Barbara Schoor , project manager and vice president at CIS. "We have also turned toward new techniques and materials," she explained. "We use high quality durable exte- riors; hurricane rated, impact resilient windows; a state of
the art insulation and weather barrier system; an energy efficient ventilation system; LED lighting; and installed an emergency generator, which powers an elevator, as well as a bathroom and shower that will be accessible during times of extended power loss.” “We will be providing an on-going resident engagement program for preparedness and resiliency and are also are in close coordination with the Office of Emergency Manage- ment,” added Christiana Fo- glio , CEO of CIS. “Residents suffered too much during and after Sandy. We want to pre- vent any chance of a similar situation.” she concluded. The project was financed with a combination of public and private resources, includ- ing construction and perma- nent loans from the New Jer- sey Housing and Mortgage Finance Agency through the tax-exempt bond financing program, equity from Enter- prise Community Investment Inc. through the Low Income Housing Tax Credit program, and Community Development Block Grant Disaster Recovery (CDBG-DR) Funds. Speakers included Middle- town Mayor Gerry Scharfen- berger, Ph.D; Anthony P. Fiore, Committeeman; Thomas A. Arnone, Director, Monmouth County Freeholder; Anthony Marchetta , Executive Di- rector of NJHMFA; Lynne Patton, Regional Director of HUD; Christiana Foglio, CEO of CIS. n
140 South Ave.
Estate . 140 South Ave. is located directly off Exit 4 at I-287, and is near Exit 10 of the New Jersey Tpke., Rtes. 1, 9, and 440, as well as the Out- erbridge Crossing to Staten Island and Brooklyn, NY. The property totals 119,935 s/f and has 20-foot ceilings, 32-foot by 32-foot column spacing, tailboard and drive- in loading, wet sprinklers, ample power and parking. n Forwood holds a B.A. in Architecture fromMiami Uni- versity in Oxford, Ohio, and is a member of the US Green Building Council , through which he holds the Leadership in Energy and Environmental Design accreditation. Mladjen’s career includes over 10 years of interior de- sign experience for civic, cultural, institutional, and education clients. She serves as M+Sa’s interior designer, managing projects as well as engaging with vendors and contractors to ensure design integrity. Mladjen holds a B.F.A. in Commercial Interior Design from Arcadia University in Glenside, PA. She is an as- sociate member of the Inter- national Interior Design Association . n
South Plainfield, NJ — Bussel Realty Corp. (BRC) announced The Gradus Group LLC has leased 76,640 s/f at 140 South Ave. in South Plainfield, 119,935 s/f indus- trial building. Senior VPs Earl Lapides, Stephen Nozza and John Cascio of BRC represented the owner, Teitelbaum Part- ners, LP, in the transaction. The Gradus Group was rep- resented by Imperial Real Princeton, NJ —Princ- eton-based architecture and historic preservation firm, Mills + Schnoering Ar- chitects, LLC, (M+Sa) an- nounced the promotion of two staff members to associate. Robert Forwood, LEED AP, and Amy Mladjen, As- soc. IIDA , joined the firm’s leadership effective October 1. “Both Amy and Bob of- fer depth of design experi- ence, project management expertise, and the ability to navigate challenging contex- tual and historic building constraints,” said principal Michael Schnoering, FAIA . “The promotions recognize their commitment to the firm and our clients.” Forwood’s career spans more than 20 years of design experience for civic, cultural, institutional, and education
Mills + Schnoering Architects names two associates clients.
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