Ingerman, a developer, manager and builder of multi-family apartment communities, announced that it has commenced construction of Alder Creek, a new community of 56 affordable housing units located in Newark. The company is based in Cherry Hill, N.J.
Alder Creek will transform what is currently a vacant public housing property into a brand new residential community to meet the strong demand for high-quality affordable rental housing in the area. Ingerman is currently working with the Newark Housing Authority to demolish all existing buildings on the site to pave the way for construction of the new apartments.
The land is adjacent to Newark’s auto row, leading to speculation that the site at some point would be sold.
The Newark Post reported the Housing Authority has received 400 applications for the 56 homes.
Ingerman operates several apartment communities in Delaware and nearby in Cecil County, Md. “We are extremely proud to be taking what is currently an underutilized property to create brand new affordable housing options for the Newark community,” said Brad Ingerman, CEO of Ingerman. “With on-site amenities and services tailored to the needs of residents, Alder Creek promises to be a continuation of our more than 20-year track record delivering high-quality residential communities throughout the Mid-Atlantic region.”
Alder Creek’s 56 energy-efficient apartment homes will be housed in 13 newly constructed, two-story buildings, and will feature a mix of one-, two-, three- and four-bedroom home designs. Each residence will have a private entrance, front porch, rear balcony or patio, and ample parking. The buildings will be situated to create a large
community green that will allow for active and passive recreational opportunities.
A community building will be constructed to house the community’s leasing office, meeting room, laundry facilities, a fitness center, maintenance space and an after-school care center, supported by full-time, on-site maintenance and management staff. A large playground will be created for families with children, and a comprehensive services program will be established, complete with a part-time coordinator, to bring in outside service providers.
“Working collaboratively with the Newark Housing Authority, we are extremely pleased to be taking the next step in creating a new residential development that will provide an attractive family housing opportunity in a market dominated by demand from students at the University of Delaware,” stated David Holden, development principal with Ingerman. “There is an incredible need in the Newark market for quality affordable housing options, and Alder Creek will play an important role in helping to fill that demand.”
Funding sources for Alder Creek include the Delaware State Housing Authority, the Delaware Department of Natural Resources and Environmental Control, and Capital One Bank.Founded in 1988, the Company has developed 85 communities consisting of more than 6,700 residential units with total development costs in excess of $1 billion. For more information, visit www.ingerman.com or call 856-662-1730.
