April 2024

O wners , D evelopers & M anagers

M id A tlantic Real Estate Journal — April 2024 — 17A


Revitalization will preserve and expand access to high-quality, affordable housing in Easton Pennrose and Housing Commission of Talbot break ground on Doverbrook Apartments redev. E ASTON, MD — Pen- nrose and the Hous- ing Commission of

housing in an area that has been severely underserved,” said Patrick Stewart, regional vice president at Pennrose. “Today’s groundbreaking is a major step forward in welcom- ing future and returning resi- dents into a new, healthy, and amenity-rich home.” The 50 replacement units will be converted from public housing assistance to Section 8 via the Streamlined Voluntary Conversion process through the Department of Housing and Urban Development (HUD). An additional 14 project-based vouchers will be provided to the 14 new units. The revitalization will help meet the high demand for af- fordable housing in the region. According to the National Low Income Housing Coalition, there is a shortage of more than 134,000 rental homes in Mary - land. In Easton specifically, the waitlist for affordable units is up to one year long. MAREJ keyless entry systems. “Wood Brook at Randolph will provide residents with the ultimate luxury living experi- ence at every level — from its thoughtfully curated amenities to its upscale design and finish - es — all set against a stunning landscape as its backdrop,“ said Jack Tycher, Partner at CBD. “We look forward to welcoming residents upon the project’s completion in 2026.” Conveniently located in the central building, Wood Brook at Randolph’s suite of lifestyle amenities caters to work, play and everything in between. For hybrid or remote professionals, the coworking space offers an easily accessible haven for productivity. Health and well- ness enthusiasts will appreci- ate the holistic fitness center and yoga room. For residents seeking entertaining spaces, the media lounge and clubroom are ideal for gathering, and a cutting-edge sports simulator and billiards lounge round out the experience. MAREJ

Talbot (HCT) celebrated the groundbreaking of the Doverbrook Apartments rede- velopment, which will replace the outdated 50-unit public housing community with 64 brand-new, energy-efficient mixed-income homes and on- site community amenities. Project partners plan to begin welcoming returning and new residents in Spring 2025. Plans for the transforma- tional redevelopment include preserving the affordability of all 50 existing apartments at the community, with one- for-one replacement, and the addition of 14 new apartments supported by Low-Income Housing Tax Credits (LIHTC). The community is 100% af- fordable, with apartments available at 30% to 80% of the Area Median Income (AMI), about $21,700 to $57,900 for RANDOLPH, NJ — Wood- mont Properties (Wood- mont) and Canoe Brook De- velopment (CBD) announced the start of construction for Wood Brook at Randolph, a luxury rental community bringing 199 sophisticated res- idences to Randolph, New Jer- sey. The development is com- prised of a four-story building, home to 97 traditional flats, neighbored by seven two-story townhome-style buildings comprising 102 residences. “With its central location, proximity to New York City and wealth of lifestyle offer- ings, Morris County remains one of New Jersey’s most de- sirable markets for suburban living,” said Stephen Santola, Woodmont’s Executive Vice President and General Coun- sel. “We’re excited to begin construction of Wood Brook at Randolph, the third residen- tial project with our esteemed partner Canoe Brook Devel- opment. We look forward to bringing our vision to life and

Doverbrook Apartments rendering National Green Building Standard silver certification, ENERGY STAR certification, and will meet criteria for the Department of Energy’s Zero Energy Ready Homes (ZERH) program. “The Housing Commission of Talbot is honored to be a part of this wonderful housing development,” said Don Bibb, executive director of the Hous- ing Commission of Talbot. “The Doverbrook community has served residents in Easton for

a one-person household. The sustainable devel- opment will utilize vari- ous features and strategies designed to reduce energy consumption costs for resi- dents, enhance operational sustainability, and limit the project’s overall carbon footprint, including the use of solar panels and water- saving and energy-efficient construction techniques, fix - tures, and equipment. Dover- brook Apartments will meet

over 50 years, but it is time for a new chapter. The opportu- nity to create a public/private partnership and bring new, energy efficient, and long-term sustainable housing to Easton on the same site is a notewor- thy accomplishment. We wish to thank all of the partners that have helped along the way.” “We are excited to work close- ly with HCT, current residents, and the local community to pre- serve, replace, and expand ac- cess to affordable and workforce

Woodmont Properties and Canoe Brook Development break ground for new luxury rental community in Randolph, NJ

Wood Brook at Randolph rendering built-in shelving; full-size front- loading washers and dryers, and private patios or balconies. Spa-like primary bathrooms feature spacious dual sink vanities with illuminated mirrors; quartz countertops; invigorating showers and soaking tubs with modern white subway tile. Sleek kitchens afford the ultimate

contributing to the growth of the Randolph community.” Catering to the distinct de- sires of today’s renters, Wood Brook at Randolph features one- and two-bedroom layouts, some including a loft, den and/ or vaulted ceilings. Residences offer 9’ ceilings; oversized win- dows; wood-style plank floors; expansive walk-in closets with

experience for home chefs with contemporary stainless- steel Whirlpool appliances, designer soft close cabinetry and marble tile backsplashes. Built-in garages are included with select townhome-style residences, and detached ga- rages are available for rent. All residences are equipped with state-of-the-art electronic

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