The Willows at Toms River Begins Leasing November 02, 2018
Toms River, NJ – November 2, 2018 – Ingerman began leasing its newest affordable family rental community, The Willows at Toms River, this week. The 50-unit apartment complex will complete construction in the coming weeks and is temporarily leasing out of its sister Ocean County property, Birchwood at Waretown.
The Willows at Toms River consists of two walk-up buildings offering a mix of one-, two- and three-bedroom apartments for residents with varying incomes up to 60% of the average median household income. The apartments feature fully-equipped kitchens with breakfast bars, quartz countertops, hardwood flooring throughout, central air, washers and dryers, and are energy efficient. Five units are set aside for special needs households. There are both accessible and adaptable rentals available. A part-time supportive service coordinator will provide case management and run resident service programs.
Located off Cox Cro Road, The Willows at Toms River is minutes from downtown Toms River, the shore, marinas, parks, camp grounds and major highways. The community offers a resident lounge, gazebo and seating area, off-street parking, is pet friendly and will have an on-site management office. Additionally, the community carries a preference for households displaced by Superstorm Sandy.
Financing for this project was provided by an award of CDBG-DR from the Fund for Restoration of Multifamily Housing (FRM) Round 3B, 4% Low Income Housing Tax Credits from the New Jersey Housing and Mortgage Finance Agency (NJHMFA), and tax-exempt bond financing from the NJHMFA. The FRM program was created in the aftermath of Superstorm Sandy and provides qualified housing developers with subsidies in the form of zero- and low-interest loans to finance the development of affordable housing in the nine counties the federal government designated as the most impacted by the storm.
The community is currently leasing Monday - Friday from 10am - 3pm out of its temporary office space in the Birchwood at Waretown offices. To learn more and download an application please visit the website here.
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 8,400 units with total development costs exceeding $1.4 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.