|
Mixed-Use Project to Transform Trenton Inner City Neighborhood
A New York/New Jersey-based developer was given approval to redevelop a section of an inner city neighborhood in Trenton, NJ. The mixed-use development, the largest of its kind within Trenton, will include 475 homes and apartments and commercial development.
Leewood Village Center (LVC) was granted development rights on Jan. 7 to redevelop a 22-acre neighborhood in the city’s South Ward. The project will include 355 townhomes, which will be owner-occupied, and approximately 120 apartments.
According to Michael Fink, president and CEO of LVC, approximately 80% of the townhomes will be market-rate, with the remaining 20% being affordable housing.
“The community will enable people who otherwise could not afford to purchase their own homes to now be able to afford the American Dream,” said Fink. “Their children, who were previously living in tight conditions, will soon be living in an environment that will help get them to think about becoming a doctor or lawyer or other possibilities.”
LVC is owned by Leewood Real Estate, a New York-based company that has redeveloped communities in once notorious inner city neighborhoods such as For Apache in the Bronx and Trenton’s Battle Monument area.
Fink said the project expects to break ground in 12-15 months and will have a five-year build-out.
|
