8C — March 18 - April 21, 2022 — Owners, Developers & Managers — M id A tlantic Real Estate Journal
www.marej.com
O wners , D evelopers & M anagers
Operation plans presented for Closter, NJ senior living community
By Patten Mills, ROCK Commercial Real Estate, LLC MILLENNIALS&BABYBOOMERS… Breathing new life into downtowns
A
s described in ROCK’s June 2019 blogs, “The Rise of the Silver Tsu-
to the area.3 It is expected to attract the attention of Millen- nials and Baby Boomers, which could stimulate the borough’s economy without putting strain on the local school systems.4 The building will be located on Locust Street within walking distance of the blocks between 2nd and 5th Streets that are crowded with restaurants, ca- fes, and shops. It will also fea- ture two first floor commercial spaces on-site that are avail- able for lease through ROCK’s own, Nate Resh. Eberly Myers, the devel- oper behind the project, is also behind an infill project in Lancaster City proposed for 215 N. Queen Street. “As people are becoming more fo- cused on wellness and mental and physical health, getting away from the density of city centers while retaining walk- able amenities is increasingly important,” said BenjaminMy- ers, Director of Development at Eberly Myers. “There are intrinsic values that smaller communities have that you can’t find in major cities. Co - lumbia rises to the top due to its proximity to Lancaster with access to the city and views across the river that create a sense of connectedness.” Eb- erly Myers is passionate about finding ways of creating com - munities of economic diversity through integration of differ- ent price points and retail that supports community. Columbia Borough is the location for several recent and ongoing projects that appeal to the mindsets of Hipsturbia and the Silver Tsunami, including the Columbia Market House redevelopment and Starview Brews. The Columbia Market House reopened in May of 2021 after being vacant since 2017. Established in 1869, the Market House again brings the community together by offering local produce and spe- cialty foods with year-round vendor stands in addition to a restaurant and event space.5 Starview Brews, an adaptive reuse project at the former tobacco warehouse located at 224 Locust Street, has also re- cently opened. The site is now a restaurant and brewery with PA-produced beer.6 Daisy Pagan, a local resident and owner of Perfect Settings on Locust Street, commented on Columbia’s evolution in correlation to Millennial and Baby Boomer trends, “When
I came to Columbia 19 years ago, the majority of the down- town storefronts were boarded up. We got involved in the strategic planning process the Borough implemented, and got to work. Now, entrepreneurs are hard-pressed to find a storefront that is available for lease. As the Vice President of the Merchant’s Association of Columbia, I take pride in that. Businesspeople are seeing the value in their investment in Columbia. We’ve been striving for that for years, knowing that businesses that target the in- terests of a younger generation will bring along the revitaliza- tion that we need. It’s been a long haul, but the renaissance is finally here.” The inclusive, walkable, amenity-filled communities that these projects help create showcase the desires of Hip- sturbia and the Silver Tsuna- mi. Although we’ve highlighted areas of Lancaster County in this blog, the influence of Hipsturbia and the Silver Tsunami is evident throughout our region. From cities like Harrisburg and Lancaster to towns such as Red Lion and Columbia, these projects dem- onstrate that fostering these mindsets can breathe new life into our local downtowns. Patten Mills is project co- ordinator at ROCKCommer- cial Real Estate, LLC. MAREJ Sources https://lancasteronline.com/ business/local_business/lancaster- countys-top-business-stories- of-2021-skyscraper-restaurant- closures-economic-rebound-and- more/article_b88d738a-68bf- 11ec-87a9-83c1bd3e3f47.htm https://lancasteronline.com/ business/local_business/south- ern-market-food-hall-to-open- in-january-meet-the-first-chefs- picked-to-be/article_764f241a- 2c5f-11ec-a496-af83b065a8f4. html https://local21news.com/news/ local/after-50-years-a-new-colum- bia-building-project-is-underway https://www.cpbj.com/lancaster- developer-breaks-ground-on-new- columbia-apartments/ https: / /www.ydr.com/story/ news / 2021 / 04 / 12 / c o l umb i a - market-house-opening-3-new- b u s i n e s s e s - y o r k - l a n c a s t - er/7137631002/ https://lancasteronline.com/ business/whats_in_store/star- view-brews-opens-in-columbia/ article_b2e35b02-8048-11ec-8957- 5b5a07901fe9.html Additional Resources https://www.columbiapa.net/ community/projects/index.php https://www.columbia-edc.org/
nami ” and “ M e e t U s In Hipstur- b i a , ” c u r - rent Millen- nial housing preferences are compara- ble to Baby Boomers’ as
Patten Mills
they enter retirement. With convenience and community being important factors to both generations, opportunities abound for brick-and-mortar businesses and underutilized properties in downtowns. This is seen locally in Lancaster County, with new development projects in Lancaster City and Columbia Borough that provide convenience for resi- dents while also increasing the customer base for businesses within walking distance. Mosaic, a 20-story, luxury 55+ community that is under- way in the center of Lancaster, is projected to be the tallest building in the city. The tower is proposed to have 147 apart- ments and upscale amenities including a spa, pool, ballroom, roof-top garden, and restau- rants at the ground level.1 Plans for the iconic building ex- emplify the influence of the Sil - ver Tsunami, the retiring Baby Boomer generation desiring convenient access to retail, din- ing, housing, entertainment, and health care. Willow Valley Communities, the developer behind the Mosaic project, is also involved in the revitaliza- tion of the Southern Market Lancaster across the street. The Southern Market, which opened January 27th, 2022, features restaurant start-ups, a central bar, small retail spac- es, and coworking spaces. Built in 1888, the Southern Market building was long vacant in an underutilized section of down- town before its transformation into a community centerpiece.2 With more than 1,000 new apartment units planned for Lancaster City alone, develop- ers are focusing heavily on the county’s urban center for new housing projects.1 Additionally, growth guided by preferences of Millennials and Baby Boomers is also spilling out to smaller towns like Columbia Borough. Riverview Terrace is the first new residential building to be built in Columbia in 50 years and will add 33 apartments
Residences at Reuten Park
MOSAIC programming, a wellness system that offers activities for all interests and abilities, such as arts, social engagements, exercise classes and educational courses. In addition to maintenance-free living and 24-hour nursing available on-site, the develop- ment will provide transporta- tion services for guest use. “Our mission is to create a vibrant space where seniors within our community can thrive,” said Mike Reuten, owner andmanaging partner of Reuten Associates. “Through- out the development process, I’ve constantly asked myself, ‘is this a space that mom can call home?’ This project has become very personal to me for several reasons, mostly because it’s more than just a building or a structure. We’re creating an environment to which our resi- dents, some of whomwill be my family members and friends, will feel connected.” Operations plans will also include a fully functional tech ecosystem including medical, consumer and educational technology. To ensure the health and safety of residents, wearable devices that track health metrics will be avail- able for use, and air purifica - tion systems, such as BiPolar Ionization, will be outfitted throughout the building’s interior. MAREJ Any business considering of- fering disaster relief payments is encouraged to consult with a Withum tax advisor who will assist in the proper structur- ing and implementation of the plan. Stuart B. Koch is partner emeritus at Withum. MAREJ
CLOSTER, NJ — Develop- ment and operation plans for the Residences at Reuten Park, a proposed 195-unit luxury senior-living development in Closter, were presented to the borough’s Zoning Board of Ad- justments. Expert testimony highlighted the project’s com- prehensive health and wellness offerings and user-friendly technology resources. Property owner Reuten Associates and developer Metropolis Property Group are seeking a variance to transform outdated industrial buildings at Reuten Corporate Park, lo- cated at 231 and 239 Herbert Ave., into a modern community providing a mix of independent living, assisted living and memory care. “We pride ourselves in im- proving the quality of life for our residents,” said Kelly An- dress, founder and president of SageLife, which develops and operates congregate, indepen- dent and assisted living com- munities throughout the East Coast. “Regardless of the sector – whether it’s independent liv- ing, assisted living or memory care – it’s imperative that we create a space equipped with top-tier amenities, services, technologies and resources, and most importantly, a space that feels like home.” During the hearing, An- dress discussed the SageLife
Qualified Disaster Relief Payments . . . continued from page 2C
cost of a personal computer, printer, supplies, internet service, telephone service, postage, messenger service, housekeeping, etc. • Commuting expenses
• Funeral expenses • Professional fees
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