THE RENNAISSANCE VILLAGE
Affordable Housing Development
LOCATION: ASBURY PARK, NJ
CLIENT: THE MICHAELS ORGANIZATION
MARKET SECTOR: REAL ESTATE
SIZE: 4-STORIES, 64 APARTMENTS, 1,200 sf RETAIL SPACE
The Opportunity
Asbury Park, NJ has poverty and unemployment levels above average compared to the rest of Monmouth County, making the creation of a new affordable housing development a welcoming addition. In a city that has lost so much to Superstorm Sandy, which made living circumstances worse for some inhabitants an opportunity to live in new construction while few developments can accept new applications for tenants a great addition to the community. This construction replaces not only vacant buildings located on the site but also sparks future development in the neighborhood to further provide more amenities and opportunities to Asbury Park.
The Challenge
Asbury Park, NJ has poverty and unemployment levels above average compared to the rest of Monmouth County, making the creation of a new affordable housing development a welcoming addition. In a city that has lost so much to Superstorm Sandy, which made living circumstances worse for some inhabitants an opportunity to live in new construction while few developments can accept new applications for tenants a great addition to the community. This construction replaces not only vacant buildings located on the site but also sparks future development in the neighborhood to further provide more amenities and opportunities to Asbury Park.
The PS&S Solution
The site is ADA accessible, and the developments are conveniently located near the
transportation hub of Asbury Park, which includes both rail and bus options. Parking
is available throughout the development to provide convenience to one’s place of stay.
Bicycle racks and a pleasant streetscape that was enjoyable to walk along were essential
to the development to encourage movement in the area besides using a car.
This project’s success has been an example of how a vacant site in a city threatened by
future extreme weather conditions can create new housing that is affordable, inclusive,
and an enjoyable streetscape for other community members to enjoy. The collaboration
between the community, the developer, local and state officials led to the success of this
revitalization project for the Springwood Avenue corridor on three vacant lots.