14B — October 10 - 23, 2014 — New Jersey — M id A tlantic

Real Estate Journal


S outhern N ew J ersey

In five weeks, applications received for more than 40% of the 70 apartments Ingerman announces strong pre-leasing activity at phase II of The Collings North


is a continuation of Inger- man’s resounding success with phase I of the commu- nity, which leased out in just two months. A number of factors have contributed to the community outperforming the market. These include a central location in Colling- swood’s downtown business district, near mass transit and a plethora of restaurants and shops, as well as the incorporation of numerous desirable lifestyle amenities available for residents. “Ingerman developed The Collings with an eye for the

needs of modern renters, who desire to be in accessible, walkable downtown locales with access to lifestyle servic- es and amenities that create a seamless living experience,” said Brad Ingerman , presi- dent and CEO of Ingerman. “Based on these trends, and the unique opportunity that The Collings represents in the local market, our early success is exciting, but not surprising.” Housed in a five-story, new construction mixed-use build- ing that includes ground-floor retail as well as Ingerman’s

OLLINGSWOOD, NJ — Ingerman , a developer, manager

and builder of multi-family apartment communities, an- nounced a flurry of pre-leas- ing activity at The Collings North, the second and final phase of The Collings at the Lumberyard in downtown Collingswood, NJ. In just five weeks, Ingerman has received applications for more than 40% of The Collings North’s 70 rental residences. The strong demand for the newest residences at The Collings at the LumberYard

The Collings North rendering

new corporate headquarters, the one- and two-bedroom luxury apartments at The Collings North range from 800 s/f to nearly 1,300 s/f. In 2013, Ingerman opened and fully leased The Collings South, the first phase of The Collings at The LumberYard. n Atlantic City’s great transition. . . continued from page 10B residential townhouses along the Boardwalk. The new hous- ing will serve to support a more diversified local economy and improve residential opportuni- ties for the regional market. Ready-to-Use Land As part of its mission to attract new businesses and investments to Atlantic City, the CRDA has also readied available land for investors. The CRDA currently has 10 acres of land available at vari- ous locations and prepped for use, including residential lots within the South Inlet. While it is not clear when the national gaming market will be stabilized, what is clear is that Atlantic City has a plan in place to respond to these challenges by diversifying its economy, attracting new busi- nesses and offering support from groups like the CRDA. Atlantic City is not unique in the challenges it is facing from an oversaturated gaming mar- ket, but what is unique about the city is that it has a head start over other markets. The CRDA has had a strategy in place since 2011 and Atlantic City will continue to expand, diversify and become more vibrant. John Palmieri is the ex- ecutive director of the New Jersey Casino Reinvestment Development Authority. n

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