Ingerman Announces the Demolition of Final Woodbridge Gardens Building September 25, 2020
The Demolition Paves the Way for Completion of a Rebuilding Effort Two Decades in the Making
Woodbridge, NJ – September 25, 2020 – Mayor John E. McCormac joined Ingerman & BCM Affordable Housing, Woodbridge Redevelopment Agency and Woodbridge Housing Authority for the demolition of the last remaining building in the former Woodbridge Gardens public housing complex.
The demolition marks the clearing of the final hurdle needed to compete construction of Jacobs Landing, the 204-unit affordable rental community replacing the outdated 150-unit Woodbridge Gardens community constructed in the 1950s. The three-phase rebuilding effort has been over twenty years in the making and brings brand new, high quality affordable housing to Woodbridge, New Jersey residents.
When Phase Three of Jacobs Landing completes construction in summer 2021, it will consist of 60 low income tax credit rentals inclusive of 38 rental assistance demonstration (RAD) units across a variety of one-, two-, three- and four-bedroom layouts. Five apartments will be furnished and designated for individuals and familiars that are homeless. It brings the total number of affordable housing rentals to 204, along with a number of amenities including a resident lounge, playground, ample parking, onsite management, and a full supportive service package for residents, including mental health counseling, substance abuse programs and a host of medical and legal advocacy programs.
All the newly constructed apartments feature energy-efficient appliances and finishes, full size washers and dryers, oversized windows, central air, ceramic tile baths, plank flooring in the living rooms and wall-to-wall carpeting throughout the remainder. Kitchens showcase premium appliance packages including a dishwasher and a garbage disposal. There are both fully accessible and adaptable units available to residents as well.
“I first met Mayor McCormac roughly 20 years ago when he was the Woodbridge Township Business Administrator. At that time, he told me that his number one priority for redevelopment in Woodbridge was to redevelop the Bunns Lane public housing complex. Well, it has taken longer than I would have preferred to get to this day, but no one can say that we gave up on our goal,” said Bruce Morgan, President, BCM Affordable Housing. “Today is the beginning of the end with the start of great things to come for the residents of Jacobs Landing and I could not be happier to finally see this project come to fruition.”
Jacobs Landing was made possible via a creative and unique public/private partnership with financing provided through a combination of equity from the syndication of the Low Income Housing Tax Credits from the New Jersey Housing and Mortgage Finance Agency, transferred reserves from the Woodbridge Housing Authority, an Affordable Housing Trust Fund contribution from the Woodbridge Affordable Housing Corporation, HOME funds from Middlesex County and a permanent mortgage from the NJHMFA. No municipal or taxpayer funds were used to construct Jacobs Landing.
###
About Ingerman
Ingerman is a leading developer, builder and manager of award-winning multifamily communities throughout the Mid-Atlantic region. Since its inception, the company has been responsible for the development of more than 100 sites representing 9,000 units with total development costs exceeding $1.5 billion. Ingerman was founded on a guiding principal: to bring together a highly talented and motivated group of real estate professionals to create lasting, quality residential communities that are strategically financed and managed through persistent attention to detail. Today, that mission continues to drive our unwavering focus on delivering high-quality housing and superior services to all of our stakeholders — investors, community partners, and residents.
