A pair of new housing developments are coming to South Jersey following the sale of two parcels of farmland in Moorestown and Medford this fall.
Separate developers are behind the projects, which come as demand for housing in suburban New Jersey continues to swell, partly in response to Covid-19 pushing people away from more densely packed urban areas.
The Parkers Bend Retirement Community, a luxury 55 and over development, is set to span 32-acres near 650 Centerton Road in Moorestown. The site received final approvals from the township this summer and is located across from the Laurel Creek Country Club and adjacent to a commercial office building occupied by Comcast. Parkers Bend will include 130 units.
Parkers Bend LLC is affiliated with Nebraska-based luxury retirement community developer Resort Lifestyle Communities. The company bought the land from Toll Brothers’ for $2.65 million in September after receiving the approvals.
Bob Lewis, director of development for Cameron General Contractors, told the township planning board in July that the developer believes the project is a good fit for Moorestown. Cameron General Contractors will oversee the project.
Lewis cited a statistic that said 80% of seniors within an 8-mile radius of the township wanted to move and were looking at those types of communities. Monthly rent for a unit will cost roughly $4,700, it said in its planning board application. The cost includes amenities and a free shuttle service to appointments.
In order to meet Moorestown’s affordable housing requirement, Lawrencville, New Jersey-based Community Investment Strategies is building a three-story, 82 unit building of 100% affordable housing behind the Parkers Bend development. Called Heritage Village at Moorestown, the project will span 17 acres and include 76 one-bedroom apartments and six two-bedroom units.
About eight miles away in Medford, a 300-unit apartment and townhouse development called Autumn Park is already underway on a 56-acre parcel at 22 Evesboro-Medford Road.
Well-known area home builder Bob Meyer, who leads Bob Meyer Communities, secured approvals for the site. Meyer said Tuesday that he didn’t officially take the title for the property and instead sold the approvals to the current developer, Rochester, New York-based Autumn Park Urban Renewal LLC.
The project includes building 254 apartment units across 10 buildings and 46 three-story townhomes on the site, located near the cross section of Route 70 and Old Marlton PIke. The development will also have 90 affordable units. Amenities include a pool, fire pits, clubhouse and dog park.
Initial site development work has already started.
*Article courtesy of Philadelphia Business Journal
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